Without the requirement to file 5500 forms for public pension plans it is difficult to get a clear overall picture of the status of these plans. You would need to review each of the public plan actuarial reports and pull off pertinent data. NASRA does it and now, starting with the state reports, so will we*.
Links to the websites where the reports can be accessed are here.
PDFs of the reports from which the data was taken are here.
The master spreadsheet of pertinent data here.
The next few blogs will examine in detail the data and the manipulations (looking at you, Wisconsin) that make the numbers appear rosier (if a trillion dollar deficit were ever rosy) than honest valuations would so as not to scare the children. But, for now, a summary in 5500 format:
Number of Plans: 154
Total participants: 22,099,755 including:
- Retirees: 7,701,486
- Separated but entitled to benefits: 2,936,628
- Still working: 11,411,521
- DROP: 50,130
Prior Year Asset Value (Market): $2,625,993,042,866
Gov’t Contributions: $94,289,259,198
Participant Contributions: $29,280,381,410
Latest Asset Value (Market): $2,747,889,141,368
Latest (ridiculously understated) Value of Liabilities: $3,716,722,967,978
Official Unfunded Liabilities: $968,833,826,610
Official Funded Percentage: 73.93%
* We, in this case being me doing the directing and interpreting and summer help (also known as my nephews Patrick and Paul) who did a diligent job compiling and putting the data into the spreadsheet. More interpreting of this data to come and, depending on circumstances, big city plan data next.