Investment earnings remained the largest source of funding for state and local pension plans, based on the National Conference on Public Employees Retirement Systems' Annual Public Retirement Systems Study that it conducted from September through December. Last year, it accounted for 63% of funding, although that's down from 67% in 2022. Employer contributions increased to 28% from 24%, while participant contributions were flat at 9%.
Investment earnings still bulk of state and local pension plan funding – NCPERS
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