State and local government retirement systems surged by 35percent over their last quarterly low point in 2009 to total $2.93trillion as of the end of 2010. The National Association of StateRetirement Administrators and the National Council on TeacherRetirement reported the findings in a recent brief.

The organizations say recent planredesign efforts underway in virtually every state, as well asmedian returns of 13.1 percent for 2010, help explain the dramaticimprovement.

“Discussions of pension funding should use these more recentfigures instead of depressed asset values that are no longeraccurate,” said Keith Brainard, research director for NASRA and thenew issue brief’s author. “Out-of-date numbers create misleadingimpressions about the true financial condition of public pensionplans and their state and local government sponsors.”

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