State Pensions Reach 75% Funded Level

Tuesday, 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.