Saturday, 1st May 2010

Issue Brief: The Funding of State and Local Pensions: 2009-2013

Issue Brief: The Funding of State and Local Pensions: 2009-2013
Source: Center for State and Local Government Excellent

An analysis of the effects the 2008 economic downturn has had on state and local government pension plan funding, along with future projections.

The brief's key findings are:

• State and local plans, which were headed toward full funding, were knocked off track by the financial crisis.
• Their funding ratio dropped to an estimated 78 percent in 2009 from 84 percent in 2008.
• Funding will likely continue to decline to 72 percent by 2013.
• Reversing this decline will be difficult, as plans face constraints in increasing revenues from either employee contributions or taxes.

+ Full Document (PDF)

Category:

• Age and Aging (DocuTicker)
• Business and economics (DocuTicker)
• Government and politics (DocuTicker)
• Labor (DocuTicker)

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