2016 Public Pension Funding Study

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By Rebecca A. Sielman | 06 October 2016
The Milliman Public Pension Funding Study annually explores the funded status of the 100 largest U.S. public pension plans. The 100 plans in this study reported assets totaling $3.24 trillion on a market basis, up from $3.06 trillion in the 2015 study. Funded ratios dropped by a few points in the 2016 study relative to the 2015 study, largely reflecting the downturn in the equity market in 2014 and 2015. The decline in the median discount rate from 2013 to 2016 provides a clear illustration of what many investment experts are referring to as the current “low return environment.”