Liabilities outstrip asset growth at top public pensions
A study of about 85 percent of state and local retirement plans found assets had grown to $2.67 trillion, while liabilities totaled $3.63 trillion by the end of 2012.
By Dan Berman|December 05, 2013 at 08:36 AM
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The nation’s largest public pension funds, which cover about 20 million participants, saw their liabilities grow faster than their assets in 2012, according to the latest Public Fund Survey.
The survey of about 85 percent of state and local retirement plans found the funds had assets of $2.67 trillion at the end of last year, an increase of 0.9 percent over 2011. Liabilities totaled $3.63 trillion, a rise of 4.1 percent. The median funding level of the funds was 73.1 percent.
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