Thirty-three states hold approximately $33 billion in OPEB assets as of FY13 according to a new report from NASRA and the Center for State & Local Government Excellence. This figure is up from 18 states reported for the period FY09-FY11. (Spotlight, Dec. 2014)
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)
Between 2009 and 2014, every state made changes to pension benefit levels, contribution rate structures, or both. (State & Local Fiscal Facts: 2015)
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, which is maintained by NASRA. 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. The database requires separate login; the Summary of Findings for fiscal year 2013 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.
Comprehensive Look at Annual Required Contributions A new paper, "The ARC Experience of State Retirement Plans, FY 01 to FY 13,” details the ARC experience of 112 state-wide and state-sponsored public pension plans finding that most states are meeting their commitments to fund their public employee pension funds with only a few conspicuously failing. Read the paper.