(Bloomberg) -- The finances of more than two-thirds ofU.S. state pension plans improved infiscal year 2014, as a soaring stock market boosted returns andmany states stopped incorporating losses from the recession intotheir pension calculations.
The median state pension last year had 70 percent of the assetsneeded to meet promised benefits, up from 69.2 percent in 2013,according to data compiled by Bloomberg.
It was the second straight increase in pension funding. Publicpensions had median investment gains of 16.9 percent for the 12months ended June 30, 2014 according to Wilshire Associates.
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