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U.S. Pension Assets Gained 16.4% in 2011, Wilshire Report Says

U.S. public pension funds rose 16 percent in the year ended June 30, narrowing the gap between their assets and liabilities to the lowest level since 2008, according to a report by Wilshire Associates Inc.

The 126 state pension plans had an average of 77 percent of the assets needed to pay their long-term obligations to retirees, up from 69 percent a year earlier, according to the study released today.