US public pension systems ended 2005 in a worse funded position than they were the year before, according to a recent survey of 102 systems. Still, the National Association of State Retirement Administrators (NASRA), whose membership includes the directors of public retirement systems, found, in its annual survey of public funds, that they have prefunded more than 86% of their future liabilities, down from the 88.2% in fiscal 2004. The survey notes that, for the 22 years ended in 2004, earnings from investment income comprised nearly two-thirds of state and local pension system revenue, while employee contributions represented 12% (the remainder was employer contributions).
US Public Sector Pensions Ended 2005 In Worse Condition, Says Survey
US public pension systems ended 2005 in a worse funded position than they were the year before, according to a recent survey of 102 systems. Still, the National Association of State Retirement Administrators (NASRA), whose membership includes the directors of
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