Milliman analysis: Public pension funded ratio rises to 79.9% in June, in second month of growth
2024年7月18日 - 3:00AM
ビジネスワイヤ(英語)
Sustained positive returns lift assets of
Milliman PPFI plans above $5 trillion for the first time
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 second consecutive month of growth in public pension
plan assets in June, the Milliman 100 PPFI funded ratio improved
from 79.4% as of May 31, 2024, to 79.9% as of June 30. The PPFI
plans saw estimated overall investment returns of 1.0% in June,
with individual plans’ estimated returns ranging from 0.4% to 2.1%.
The plans gained market value of approximately $50 billion during
the period, offset by a net negative cash flow of around $9
billion. The deficit between estimated plan assets and liabilities
decreased from $1.293 trillion at the beginning of June to $1.266
trillion at month’s end, representing a $27 billion increase in
funded status.
“June’s positive market growth pushed two more plans over the
90% funded mark as of June 30,” said Becky Sielman, co-author of
Milliman’s PPFI. “Currently, 25 plans stand above this benchmark,
compared to 23 at the end of May. The lower end of the spectrum
remains consistent, with 15 plans at 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/20240717465888/en/
Becky Sielman Milliman, Inc. Tel: +1 860 687 0125
becky.sielman@milliman.com