The Federal Reserve reported that as of Q4 2013, state and local defined benefit assets are $3.88 trillion, which is held in trust for 15 million working and 8 million retired employees of state and local government. The pre-recession high was $3.2 trillion. (Economic Indicator News)
Since 2009, 16 states have changed COLAs for current retirees, 7 states have changed COLAs for current employees, and 6 states have modified COLAs for future employees. (Issue Brief, Feb. 2014)
Since 2009, 36 states have increased required employee contribution rates. (Issue Brief, Jan. 2014)
Public Fund Survey More than 85 percent of all state and local government pension assets and members in the U.S. are represented in the Public Fund Survey. Survey data is taken primarily from retirement system annual financial reports, and also comes from actuarial valuations, benefits guides, and interviews with retirement system staff members. It is intended to promote sound public retirement system policies and administration by increasing transparency and understanding of the public retirement system community. Public Fund Survey is a joint venture of NASRA and the National Council on Teacher Retirement. The database requires separate login; the Summary of Findings is available here.Roll Call Capturing notable events and developments in public retirement systems from reports since 2005, Roll Call is a perennial highlight of the annual conference. Members can view the most recent report as well as see previous years; login and then access it here.
Facts You Should Know National organizations representing the nation's governors, state legislatures, and state and local officials jointly released the 2014 edition of Facts You Should Know: State and Municipal Bankruptcy, Municipal Bonds, State and Local Pensions. The paper outlines the purpose of municipal bankruptcy and the degree to which it is permitted and used, the types and level of municipal debt, and the structure and condition of state and local pension trusts. Read it.