US. Public Pensions Reducing Fee Outlays to Improve Efficiency
Public retirement systems are squeezing down their expenses to operate more efficiently, according to an annual study by the National Conference on Public Employee Retirement Systems.
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The 2019 NCPERS Public Retirement Systems Study, based on responses from 155 state and local pension systems, shows that trustees, managers, and administrators are working to ensure funds’ fiscal and operational integrity, according to Hank H. Kim, executive director and chief counsel of NCPERS.
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“Pension systems are constantly looking for ways to strengthen their performance and provide a secure income for millions of public servants,” Kim said. Survey participants had 12.6 million active and retired members and assets exceeding $1.4 trillion in actuarial and market value. The majority—62 percent—were local pension systems while the remaining 38 percent were statewide systems.
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NCPERS conducted the ninth annual survey from September through December 2019 in partnership with Cobalt Community Research. It covered the most recently concluded fiscal year, which for most pension systems was calendar year 2018.
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