99% of public pensions underperformed  their assumed returns

99% of public pensions underperformed  their assumed returns

From 2001 to 2023, the most recent period with complete data available, 99% of public pension funds failed to meet their average assumed rates of return. The average investment return for public pension systems during this period was 6.5%, well below the average assumed rate of 7.59%. The failure of public pension funds to reach their assumed rates of return has implications beyond the disappointing investment returns themselves. It means govern…