Public pensions in Greece

William Whitman Joins NCPERS Staff to Support Continued Membership Growth, Build Strategic Alliances

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Thursday, November 16, 2023
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The National Conference on Public Employee Retirement Systems ( NCPERS ) has named William Whitman as its Director of Membership and Strategic Alliances.

Key Points: 
  • The National Conference on Public Employee Retirement Systems ( NCPERS ) has named William Whitman as its Director of Membership and Strategic Alliances.
  • He will also manage existing industry alliances and work to foster new relationships in order to further NCPERS’ mission to promote and protect pensions.
  • William has an extensive track record of creating impactful services and programs for a diverse range of member communities.
  • I’m looking forward to getting to know the current members and working to expand the organization’s reach and impact,” William said.

Milliman analysis: Public pension funded ratio dips to 72.8% as of December 31 due to market declines

Retrieved on: 
Tuesday, January 17, 2023
Public pensions in Greece, Pension fund, Milliman

SEATTLE, Jan. 17, 2023 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • During December 2022, the Milliman 100 PPFI funded ratio slipped to 72.8% as of December 31 from 74.7% on November 30.
  • After two straight months of investment gains, market declines dragged on plan assets in December, causing aggregate losses of 1.8% for the period.
  • This erased $94 billion in market value, on top of a net negative cash flow of approximately $8 billion.
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: Market gains lift public pension funded ratio to 74.7% as of November 30

Retrieved on: 
Wednesday, December 14, 2022
City, Health, Public pensions in Greece, Pension fund, Milliman

SEATTLE, Dec. 14, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • During November, the Milliman 100 PPFI funded ratio improved from 71.6% as of October 31 to 74.7% on November 30.
  • Public plans have now seen two straight months of investment gains, returning, in aggregate, 2.8% in October and 4.7% in November.
  • November's gains added approximately $200 billion in market value, which was offset by a net negative cash flow of $8 billion.
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: September market declines cause public pension funded ratio to drop from 75.0% to 69.3%

Retrieved on: 
Friday, October 21, 2022
Public pensions in Greece, Health, City, Pension fund, Milliman

During September, the Milliman 100 PPFI funded ratio declined from 75.0% on August 31 to 69.3% as of September 30.

Key Points: 
  • During September, the Milliman 100 PPFI funded ratio declined from 75.0% on August 31 to 69.3% as of September 30.
  • Public plans saw, in aggregate, investment losses of 6.6% for the period, erasing approximately $318 billion in market value, on top of a net negative cash flow of approximately $8 billion.
  • "September's poor investment performance pushed another seven plans below the 90% funded mark," said Becky Sielman, author of Milliman's PPFI.
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

New Research Examines the Impact of the Great Recession on U.S. Public Pension Plans

Retrieved on: 
Wednesday, October 5, 2022
National Institute, Time, Retirement, Review, National Institute on Retirement Security, Public sector, Longevity, Twitter, NIRS, Multimedia, Investment, Great, Financial crisis of 2007–2008, View, Great Recession, Environment, Public pensions in Greece, Doonan, Gingival recession, Pension fund, Life insurance, Risk management

WASHINGTON, Oct. 5, 2022 /PRNewswire/ -- A new report finds that state and local government retirement systems on the whole successfully navigated the 2007 to 2009 Global Financial Crisis. Moreover, public retirement systems across the nation have adapted in the years since the recession by taking actions to ensure continued long-term resiliency.

Key Points: 
  • Public pensions have adapted in the years since the Great Recession by taking actions to ensure continued resiliency.
  • These findings are detailed in a new study released today by the National Institute on Retirement Security (NIRS), Examining the Experiences of Public Pension Plans Since the Great Recession.
  • "No investor was immune from the devastating effects of the Great Recession, including public pension plans," Doonan said.
  • These changes, combined with the substantial growth in public plan assets during the past decade, attest to the strength and longevity of public pension plans."

Milliman analysis: Public pension funded ratio dips to 75% as August market losses erode July's gains

Retrieved on: 
Thursday, September 22, 2022
Health, City, Public pensions in Greece, Pension fund, Milliman

SEATTLE, Sept. 22, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • During August, the Milliman 100 PPFI funded ratio declined from 77.3% at the end of July to 75.0% as of August 31.
  • Public plans saw, in aggregate, investment losses of 2.6% for the month, which erased much of the short-term recovery experienced in July.
  • The combined plans lost market value of approximately $118 billion, on top of a net negative cash flow of approximately $8 billion.
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: Public pensions recover majority of June's market losses, reach 77.3% funded as of July 31

Retrieved on: 
Tuesday, August 23, 2022
Health, Public pensions in Greece, City, Pension fund, Milliman

SEATTLE, Aug. 23, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • During July, the Milliman 100 PPFI funded ratio increased, climbing from 74.0% on June 30 to 77.3% as of July 31.
  • Public pensions recovered the majority of June's market losses, thanks to an estimated 4.7% investment return for these plans, in aggregate.
  • During July, the plans gained market value of approximately $217 billion, which was offset by net negative cash flow of $8 billion.
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: Slump in June market causes $262 billion drop in public pension funded status

Retrieved on: 
Thursday, July 28, 2022
Public pensions in Greece, City, Pension fund, Financial adviser, Milliman

SEATTLE, July 28, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • "Public pensions have seen their funding tumble during June 2022, thanks to the continuing turmoil in financial markets"
    During June, the Milliman 100 public pension funded ratio dropped from 78.4% on May 31, 2022, to 74.0% as of June 30, 2022.
  • The drop in funding was the result of poor investment performance, with PPFI plans experiencing investment losses of 5.13% in aggregate for the month and shedding approximately $240 billion in the market value of assets.
  • "Combined with the normal growth in liabilities, these public pensions saw their aggregate deficit rise by $262 billion in June alone."
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: Public pension funded ratio stays steady in May at 78.4%

Retrieved on: 
Wednesday, June 29, 2022
City, TPL, Public pensions in Greece, Pension fund, Life insurance, Milliman

SEATTLE, June 29, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • SEATTLE, June 29, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.
  • During May, the Milliman 100 public pension funded ratio remained nearly flat for the month, inching down from 78.6% to 78.4%.
  • May's relatively stagnant market provided a reprieve for these plans after the volatility experienced between February and April of this year.
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: Rocky markets cause $167 billion drop in public pension funded status during Q1

Retrieved on: 
Friday, May 20, 2022
Public pensions in Greece, City, Pension fund, Milliman

SEATTLE, May 20, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the first quarter (Q1) 2022 results of its Public Pension Funding Index (PPFI), which consists of the nation's 100 largest public defined benefit pension plans.

Key Points: 
  • During Q1 2022, the Milliman 100 public pensions experienced investment losses of an estimated 3.36% in aggregate, driving down the funded status of these plans by $167 billion.
  • The PPFI funded ratio declined from 85.5% at 2021 year-end to 82.7% as of March 31, 2022.
  • This funded ratio, however, is still modestly higher than at the end of Q1 2021 (79.0%) and substantially higher than at the end of Q1 2020 (66.0%).
  • For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .