The Tell: State pensions finish 2021 with 25% gain, beat a key sustainability threshold for first time since financial crisis

State pension systems finished the 2021 fiscal year in the best shape since the financial crisis, thanks to fiscal discipline and the best market gains in 30 years, according to an analysis out Tuesday.

Retirement systems earned estimated returns of over 25%, according to the report, from the Pew Charitable Trusts. That pushed aggregate funding levels over the 80% threshold that’s often considered a marker of sustainability for the first time since 2008. In fact, Pew projects funding to be 84%, a big jump from 71% in 2019.

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