While California's retirement woes continue to mount – with lawsuits and lower-than-expected earnings in the state's public pension plans – the City of Los Angeles found a small spot of good news in its own retirement system.
According to the Los Angeles Times, L.A. came out looking very good in a review of pension funds and retiree health plans prepared by the Pew Charitable Trust, with a pension system that's 89 percent funded.
In a study of 61 major cities across the U.S., the Trust found that the average funding level was approxmately 74 percent, and the collective pension obligation totaled more than $217 billion.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
