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Survey says public funds doing great financially August 31, 2006
State and local
retirement systems are financially sound, according to a survey of 102 public
pension funds commissioned by the National Association of State Retirement
Administrators and the National Council on Teacher Retirement. More than 86% of
the plans studied had pre-funded 85% of their future liabilities in 2005.
Earnings from investment income accounted for 63% of state and local pension
system revenue for the 22 years ended Dec. 31, 2004, a major factor behind the
funds' financial soundness, according to analysis by Keith Brainard, NASRA
research director. Worker contributions represented 12% of revenue, and employer
contributions accounted for 25%. |
