According to the Center for Retirement Research at Boston College, in The Funding Status of Locally Administered Pension Plans by Alicia H. Munnell, Jean-Pierre Aubry, and Kelly Haverstick, US state and local governments have suffered estimated pension losses of $865.1 billion for the 14 months ended Dec 16. This represents a 37% decline over that period.
The report states: “To return to 2007 actuarial funding levels by 2010, the 109 funds would need annual returns of 52% on assets.”