By Emily Boyle
Source: AI-CIO
The state and local pension funding ratio is projected to have increased to 77.7% in fiscal 2025, according to the Center for Retirement Research at Boston College. That ratio is up 1.5 percentage points since 2023, while the S&P Index jumped more than 40% over the same period.
Meanwhile, the National Conference of Public Employee Retirement Systems reported in its annual retirement study, released in February, that the funded level of the average public pension fund reached 83.1% through the first half of calendar 2024—a five-year high.
On Thursday, Milliman Inc. announced that June was another strong month for public pension funding: Monthly market gains of 2.3% lifted the nation’s 100 largest public defined benefit plans’ funded ratio to 82.9%.