Pension funding at both the state and local levels appears to be stabilizing, according to the 12th annual public pension funding review announced Wednesday by Loop Capital Markets, which found minimal annual declines in fiscal year 2013.
Most of the data are as of June 30, 2013, from comprehensive annual financial reports. Loop Capital analyzed 247 state pension funds and 84 of the larger local funds.
While only five states saw their plans' funding ratios improve in fiscal 2012, that number grew to 19 states in 2013.
The aggregate funded level for the 247 state plans fell to 73.1% from 73.5% in fiscal 2012, based on fiscal 2013 data.
States with the largest annual increase in funded levels included South Dakota, Oregon, Utah, Arkansas and Montana. The top five states based on funded levels were South Dakota and Wisconsin at 100% funded, North Carolina and Washington at 95%, and Tennessee, 92%.