The Milliman Public Pension Funding Study annually explores the funded status of the 100 largest U.S. public pension plans. We report the assessment by plans of their own funded status. We also recalibrate the liability for each plan based on our independent assessment of the expected real return on its investments. Main areas of discussion include:
Recalibrating the total pension liability
Actuarial Standards of Practice (ASOP) 51 and plan maturity measures
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2021 Public Pension Funding Study
Surging market returns have lifted pension assets, resulting in an estimated aggregated funded ratio mid-year of 85.0%, up from 70.7% at the same point in 2020.