US. State, local pension plan funding dropped in 2016
As if there’s not enough to worry about in the retirement crisis, when people have so little saved, those who have pensions from states and local governments are likely not reassured about the performance of aggregate funding levels for those plans in 2016.
A brief from the Center for Retirement Research at Boston College finds that aggregate funding for state and local pension plans fell during fiscal year 2016, thanks to continued steady growth of liabilities even while poor stock market performance slowed asset growth.
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