Public Pensions Reducing Fee Outlays to Improve Efficiency
WASHINGTON--(BUSINESS WIRE)--Jan 27, 2020--
Public retirement systems are squeezing down their expenses to operate more efficiently, according to an annual study by the National Conference on Public Employee Retirement Systems.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200127005606/en/
Hank H. Kim, Esq., executive director and counsel of the National Conference on Public Employee Retirement Systems (Photo: Business Wire)
The 2019 NCPERS Public Retirement Systems Study, based on responses from 155 state and local pension systems, shows that trustees, managers, and administrators are working to ensure funds’ fiscal and operational integrity, according to Hank H. Kim, executive director and chief counsel of NCPERS.
“Pension systems are constantly looking for ways to strengthen their performance and provide a secure income for millions of public servants,” Kim said.
Survey participants had 12.6 million active and retired members and assets exceeding $1.4 trillion in actuarial and market value. The majority—62 percent—were local pension systems while the remaining 38 percent were statewide systems. NCPERS conducted the ninth annual survey from September through December 2019 in partnership with Cobalt Community Research. It covered the most recently concluded fiscal year, which for most pension systems was calendar year 2018.
An interactive version of the study is available to NCPERS members at no cost. This login-protected “ dashboard ” enables public pension funds to build their own comparisons and peer groups in order to analyze their performance, assumptions, and expenses.
Among the key findings:
The National Conference on Public Employee Retirement Systems (NCPERS) is the largest trade association for public sector pension funds, representing more than 500 funds throughout the United States and Canada. It is a unique non-profit network of public trustees, administrators, public officials and investment professionals who collectively manage more than $4 trillion in pension assets. Founded in 1941, NCPERS is the principal trade association working to promote and protect pensions by focusing on advocacy, research and education including e-learning for the benefit of public sector pension stakeholders.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200127005606/en/
CONTACT: Debra Cope
KEYWORD: UNITED STATES NORTH AMERICA CANADA DISTRICT OF COLUMBIA
INDUSTRY KEYWORD: CONSULTING PROFESSIONAL SERVICES FINANCE
SOURCE: National Conference on Public Employee Retirement Systems
Copyright Business Wire 2020.
PUB: 01/27/2020 02:22 PM/DISC: 01/27/2020 02:22 PM