Milliman analysis: Public pension funded ratio rises to 80.8% in July, topping 80% mark for first time since March 2022
2024年8月15日 - 2:00AM
ビジネスワイヤ(英語)
Milliman PPFI plans gain $56 billion in
funding improvement after third straight month of market
gains
Milliman, Inc., a premier global consulting and actuarial firm,
today released the results of its latest Public Pension Funding
Index (PPFI), which analyzes data from the nation’s 100 largest
public defined benefit plans.
Thanks to a third consecutive month of market gains in July, the
Milliman 100 PPFI funded ratio improved from 79.9% as of June 30 to
80.8% as of July 31. The PPFI plans saw estimated aggregate
investment returns of 1.6% in July, with individual plans’
estimated returns ranging from 0.6% to 2.9%. The plans gained
market value of approximately $79 billion during the period, offset
by a net negative cash flow of around $10 billion. The deficit
between estimated plan assets and liabilities decreased from $1.266
trillion at the beginning of July to $1.210 trillion at month’s
end, representing a $56 billion increase in funded status.
“Strong market performance in July pushed the PPFI plans’
funding levels above the 80% mark for the first time in nearly two
and a half years,” said Becky Sielman, co-author of Milliman’s
PPFI. “Thanks to this growth, an additional two plans surpassed the
90% funding level in July, leaving 27 plans above this benchmark
and only 15 plans less than 60% funded.”
For more information, and to view the full Milliman 100 Public
Pension Funding Index, go to http://www.milliman.com/ppfi/. To see
Milliman’s full range of annual Pension Funding Studies, go to
https://www.milliman.com/en/retirement-and-benefits/pension-funding-studies.
To receive regular updates of Milliman’s pension funding analysis,
contact us at pensionfunding@milliman.com.
About Milliman
Milliman is among the world's largest providers of actuarial,
risk management, and technology solutions. Our consulting and
advanced analytics capabilities encompass healthcare, property
& casualty insurance, life insurance and financial services,
and employee benefits. Founded in 1947, Milliman is an independent
firm with offices in major cities around the globe. Visit us at
milliman.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240814547878/en/
Becky Sielman Milliman, Inc. Tel: +1 860 687 0125
becky.sielman@milliman.com