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They point to lessons learned from the Russian invasion of Ukraine, stating that many fiduciaries, including state pension plans, failed to recognize similar warning in 2022.
State pension plans are facing a massive $1.4 trillion funding gap, according to a new analysis from the Pew Charitable Trust. Pension liabilities in all 50 states increased by $295 billion to ...
North Carolina’s pension funds rank either 49th or 50th in investment performance, Briner said. ... The average state pension plan in our country is 70% exposed to stocks and 30% to fixed income ...
New York State Teachers: $115,637 $115,637 94.2% 7.5% 8 State of Wisconsin Investment Board: $109,960 $105,155 N/A N/A 9 North Carolina Retirement: $106,946 $96,094 88.3% 7.3% 10 Washington State Investment Board: $104,260 $86,615 85.5% 7.7% 11 Ohio Public Employees Retirement System: $97,713 $96,304 80.2% 7.5% 12 New Jersey Division of ...
Local plans are 78.2% funded in 2022, compared to 77.8% for statewide plans. However, the historical funding trends of municipally-managed plans are similar, if not identical to statewide plans. Locally-managed public pension plans account for approximately 12% of all unfunded liabilities of non-federal retirement systems.
However, since state and local plans are managed independently from one another, the scale of the challenges facing pension funds varies widely by state. The image below shows the 2021 and 2022 funded ratios of states as of July 2022 — illustrating both the spectrum of pension health in the US and the impact of market volatility on funded ratio.
The South Carolina State House. The South Carolina Statehouse corruption investigation was a probe into unlawful interactions between members of the South Carolina General Assembly, the political firm of Richard Quinn, Sr., and major state institutions and corporations from 2013 to 2021.
South Carolina state employees can expect a pay raise of $2,500 or 5%, whichever is higher, state budget writers have decided. With $800 million in additional money available to disburse in what ...