Pension reforms continue through 2016-2018
A new NASRA resource provides detailed information about key changes made to public pension plans since 2016. The report extends the listing of statewide pension reforms presented in "Significant Reforms to State Retirement Systems," published in 2016. (See "Selected Approved Changes to Select State and Local Public Pensions" on Pension Reform @NASRA.org)
Median public pension plan investment return assumption falls below 7.5 percent
Among 129 plans measured, nearly three-fourths have reduced their investment return assumption since fiscal year 2010, resulting in an all-time low median investment return assumption of 7.45 percent. (Latest Investment Return Assumptions @NASRA.org)
Stress testing public pensions
For a public pension plan, a stress test is an analysis or simulation designed to measure the effect on the plan of various projected—particularly adverse—investment and actuarial events. No consensus exists regarding the factors or processes that constitute a stress test. A stress test essentially is a more extreme version of a risk assessment, something that most public pension plans, particularly larger plans, have conducted for years, although typically not labeled a "stress test." For example, actuarial valuations and asset-liability studies, which virtually all plans conduct periodically, are relatively simple methods for measuring risk. Stress Testing@NASRA.org
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 Summary of Findings for fiscal year 2016 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.
Public Plans Data Individual and aggregated data on 150 state and local pension plans. Joint venture of The Center for State and Local Government Excellence, the Center for Retirement Research at Boston College, and NASRA. Read the press release; access the database.
Retirement System Data Access the latest market values of assets, active members, and annuitants for over 140 state and local retirement systems here.
Member Survey Results NASRA member surveys cover a wide range of issues pertaining to retirement plan administration and policy. Survey results are available to NASRA members. Login and then access results, organized by topic, here.
Interested in joining NASRA? The nation’s public pension plan leaders gather twice a year at the NASRA Annual Conference in August for five days of unparalleled discussions, education, and information and at the Winter Meeting in Washington, DC, covering pending federal and legal topics. In 2019, the Winter Meeting is scheduled for February 23-25; the Annual Conference is scheduled for August 3-7 and both are open to members only. Click on the 'Membership' tab above for more information and to complete the short membership application.