San Diego’s Pension Payments Will Decrease by Over $30 Million
The city’s plan is on track to achieve full funded status by 2033.
A new report debunks the ‘myth’ that an 80% funded level means a plan is in good health.
Despite returns of nearly 13%, US corporate plans’ funded level remained flat for the year, thanks to falling rates, Willis says.
But financial strains on governments could make it harder to pay required contributions.
Funded levels fluctuated from 85% down to 72% and back up to 82% during first six months of the year.
Asset gain of $308 billion in April-June period lifts estimated funded ratio to 71.2% from 66%.