Report on State Retirements Systems: Funding Levels and Asset Allocation

Wilshire Consulting's 2014 Report on State Retirement Systems is Now Available

Wilshire Consulting estimates that the ratio of pension assets-to-liabilities, or funding ratio, for 134 state pension plans included in the report was 75% in 2013, up from 72% in 2012. Of the 111 state retirement systems that reported actuarial data for 2013, pension assets and liabilities were $2,117.7 billion and $2,897.4 billion, respectively. Wilshire forecasts a long-term median plan return equal to 6.63% per annum, which is 1.12 percentage points below the median actuarial interest rate assumption of 7.75%. One should note that Wilshire’s assumptions range over a conservative 10+ year time horizon, while pension plan interest rate assumptions typically project over 20 to 30 years.

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