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hand drawing arrows As of June 30, 2018, the PPFI deficit is the biggest it’s been since the index began in September of 2016, at $1.448 trillion. (Photo: Shutterstock)

Asset performance during the second quarter that was “lackluster” caused the funded ratio of public pensions to fall to 71.2 percent, representing a drop of $23 billion.

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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