Finally, some good pension news
Many public sector pension funds are benefiting from double-digit annual returns as the stock market gained an average of 20% in the past year- June 2012-June 2013. Plans such as the California Public Employees’ Retirement System, Florida’s state fund, Ohio state teachers and Connecticut have reported returns well above 11 percent. Most others are expected to follow suit.
A recent report by Wilshire Associates found that in the 12 months preceding June all public funds had a median return of 12.4 percent. A report by the credit rating agency Standard & Poor’s said there are signs of stabilization in public pension underfunding. But there are still things to worry about. Read the Reuters story.