Public pension plans: Returns up, expenses down, more death audits, fewer staff

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Strong investment returns, increased oversight and digital communication efforts, and new concerns about staffing were among the key findings of a report on the fiscal condition of local and state government retirement funds and the latest trends in their operations.

The survey from the National Conference on Public Employee Retirement Systems – completed in partnership with Cobalt Community Research – includes responses from 156 local and state government pension funds with more than 17.7 million active and retired members and assets exceeding $2.6 trillion. Local and state pension funds were both represented in the responses (53% and 47%, respectively). NCPERS represents approximately 500 funds throughout the United States and Canada. The survey was held between September and December 2021.