The Federal Reserve reported that as of June 30, 2014, state and local defined benefit assets are $3.70 trillion, which is held in trust for 15 million working and 8 million retired employees of state and local government. This represents a one-year increase of $323 billion, or 9.6%. (Economic Indicator News)
Among the largest 126 public retirement plans, more than one-half have reduced their investment return assumption since fiscal year 2008. The average return assumption is 7.75%. (Issue Brief, Oct. 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.
PPCC Award Application Period is Open Applications are now being accepted for the annual Public Pension Coordinating Council Awards. The deadline for submitting an application is Friday, November 21st. Learn more about the PPCC or go directly to the store to pay the processing fee either by credit card or invoice in order to obtain the application.