National Association of State Retirement Administrators

Fast Fact

Average public pension plan investment return assumption falls below 7.0 percent

Among 131 plans measured, more than half have reduced their investment return assumption since FY 20, resulting in a decline in the average investment return assumption below 7.0 percent. This is the lowest level in more than 40 years. (Latest Investment Return AssumptionsNASRA)

73 percent of public pension plans using layered amortization 

Of the 79 variable rate plans in the sample that use closed amortization, 58, or 73 percent use layered amortization, with the remaining 21, or 27 percent using a single-layer amortization period. Among plans using layered amortization, the median amortization period for actuarial experience is 20 years, and the average is 20.9 years. (Overview of Public Pension Plan Amortization Policies, NASRA)

Risk-sharing in public retirement plans

Nearly every state enacted significant reforms to its pension plans in recent years, and for many plans, one outcome is that more risk has been shifted from employers to employees through use of plan designs such as variable contribution rates, variable benefits, and hybrid plans, among other features. "In-depth: Risk Sharing in Public Retirement Plans" describes broad risk sharing features established in one or more public retirement plans, as well as detailed case studies on systems whose plan designs include unique or notable risk sharing features.

See Also: NASRA Video, "Introduction to Shared Risk in Public Pensions

Research Center

Public Fund Survey Summary of Findings Maintained and published annually by NASRA since 2001, the Survey is a narrative description and analysis, accompanied by graphics, that describes and presents current and trending vital financial, actuarial, and demographic statistics about public retirement systems. Access the latest summary here.

Selected Industry Resources and Reports
 This page provides a listing of resources and reports, maintained by NASRA and other organizations, presenting information and data about the broad public pension community. Access the listing 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.

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.

NASRA welcomes all public retirement systems to join; for those that do not meet the size and coverage requirements, an Educational Alliance Membership is available. Private sector firms working with public pensions can join as Associate Members or if space is available, as Premium Associate Members; click here for more information and to complete the short membership application. NASRA provides exceptional research, industry intelligence and networking opportunities for our country's largest statewide public retirement systems.  In 2023, the Winter Meeting will be held February 25 to 27; the Annual Conference, located in Broomfield, Colorado, August 5-12, and both are open to members only, so join now for the latest in what's happening in public pensions!