News

News

GFOA is always on the lookout for news items that will be useful for finance professionals, research that might help you do your job better, and legal and regulatory updates you need to know about. Check the GFOA news page for the updates and any relevant GFOA announcements.

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State Pensions Reach 75% Funded Level

March 18, 2014

State pensions reached an average funded level of 75% for the fiscal year ended June 30, 2013, up three points from the previous year, according to Wilshire Consulting, which cites the funds’ exposure to equities – the S&P 500 index rose 30% in 2013. This is the highest funding level since 2008, when it was at 81%, according to Bloomberg, which noted that “the 10-year peak was 95% in 2007, while the low was 64% in 2009.” Pension assets grew to $2.12 trillion in 2013.

State Health-Care Cost Containment Commission Releases Report

March 18, 2014

The State Health Care Cost Containment Commission, organized by the University of Virginia’s Miller Center, released a report on how the nation’s governors and other state leaders can transform the current health-care system into one that is more integrated, coordinated, patient-centered, and cost-effective.The report aims to jump start state-level action on health-care cost containment as states begin new legislative sessions.