Pensions
State Pensions Reach Highest Funded Level in 13 Years
US public employee pension plans are projected to be more than 80% funded on average.
Despite small interest payments and not much price appreciation potential, many investors say it does deliver in this one area.
Asset gain of $308 billion in April-June period lifts estimated funded ratio to 71.2% from 66%.
Research shows that institutional investors rely on past performance to gauge future returns.
Report finds growth of liabilities is outpacing asset growth.