Link: https://equable.org/state-of-pensions-2021/
Graphic:
Link to PDF report:https://equable.org/wp-content/uploads/2021/09/Equable-Institute_State-of-Pensions-2021_Final.pdf
Excerpt:
State retirement systems in America improved from last year, but are still Fragile.
This an annual report on the current status of statewide public pension systems, put into a historic context. State and local governments face a wide range of challenges in general – and some of the largest are growing and unpredictable pension costs. The scale and effects of these challenges are best understood by considering the multi-decade financial trends and funding policy decisions that have brought public sector retirement systems to this moment.
The financial market volatility over the past 18 months of the COVID-19 pandemic has ultimately been a positive investment climate for institutional investors like state pension plans. And the federal government has provided substantial financial aid to states and municipalities, smoothing over what could have been seismic budgetary shortfalls in some jurisdictions due to tax revenue declines. The combined historically unprecedented nature of these events continues to create an unpredictable environment for state pension plans. However, in this report Equable uses patterns of behavior from the past two decades as a guide to what might happen in the coming decade while also a means to identify areas of concern that should be monitored closely or acted upon immediately.
Authors: Anthony Randazzo, Jonathan Moody, PhD
Publication Date: Accessed 23 Sept 2021
Publication Site: Equable Institute