US Public Pension Funds Reach 85% Benefit Coverage, Highest Since 2009
Updated
Updated · Bloomberg · Jul 23
US Public Pension Funds Reach 85% Benefit Coverage, Highest Since 2009
3 articles · Updated · Bloomberg · Jul 23
Summary
85% of promised benefits were covered by US public pension assets as of June 30, up from 81.2% a year earlier and marking the strongest funding level since 2009.
Soaring stock markets and larger government contributions drove the improvement, lifting retirement fund asset values across public plans.
The Equable Institute said the gains still leave many pension systems short of full funding and exposed to a market downturn.
The rebound pushes public pension funding to its best point since the Global Financial Crisis, underscoring both recent progress and lingering vulnerability.