Milliman analysis: Public pensions' funded ratio hits new hi

Milliman analysis: Public pensions' funded ratio hits new high at 79.0% in Q1 2021


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SEATTLE, April 19, 2021 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the first quarter 2021 results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.
In 2021, public pensions have continued their strong recovery from a year prior, with the funded status of the Milliman 100 plans increasing to 79.0% as of March 31, up from 78.6% at the end of December 2020 and 66.0% in Q1 2020. The Q1 2021 funded ratio is the highest recorded in the history of Milliman's Public Pension Funding Study.
"While 2021 has proven to be a strong year for public pensions so far, there are still lingering questions around the impact of the COVID-19 pandemic on these plans," said Becky Sielman, author of Milliman's Public Pension Funding Study. "The past year has seen workforce volatility and strain on state budgets which could put downward pressure on funding in the future."

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