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.
