
Pensions
Volatility Has Little Effect on Public Pension Funded Levels in March
The funded ratio of the 100 largest U.S. public pensions rose despite interest rate hike, banking failures.
Asset gain of $308 billion in April-June period lifts estimated funded ratio to 71.2% from 66%.
But market volatility caused by the coronavirus threatens to erase some of the gains.
Interest, new benefit accrual boosts total pension liability to almost $5 trillion.