Average funded status of local, state retirement systems declined 6% in 2022

The average funded status for the top state and local retirement systems dropped by a little more than 6 percent in 2022, according to a research brief from the nonprofit Equable Institute,“ The State of Pensions 2022: Year End Update.”. Driven by poor investment returns, the pension funding shortfall increased nationally to $1.4 trillion during 2022 after…