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.
According to the Milliman Pension Funding Index, the country's 100 largest public defined benefit pension plans demonstrated a “lackluster asset performance of 0.70 percent in aggregate” that resulted in a decrease of $23 billion.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
