Locally administered public pension plans, which had lagged behind state plans in funding levels, are making some progress, gradually closing the gap between the two.
That’s according to a brief from the Center for Retirement Research at Boston College. In its last comprehensive review of locally administered plans’ funded status compared with that of state plans, conducted in 2011, state plans were better funded with local plans trailing.
But there have been lots of changes since then, with numerous reforms to both state and local plans seeking to control rising pension costs and limit liability growth.
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