|
Laxman Pai, Opalesque Asia: For the fiscal year 2020, earnings on investments accounted for 71% of public retirement system revenues, according to a survey.
The share of revenues that comes from investment earnings edged up from 69 percent a year earlier, while the employer contribution dipped from 22 percent. The employee contribution share was unchanged, according to the 2020 NCPERS Public Retirement Systems Study.
Of the 138 state and local pension systems responding, 51% were state systems and the rest were local systems, with a collective 12.8 million participants and more than $1.5 trillion in assets.
Hank H. Kim, Esq., executive director and counsel of the National Conference on Public Employee Retirement Systems said that pension trustees, managers, and administrators use the survey's benchmarks to evaluate their operations and performance. NCPERS provides an interactive version of the study to its members at no cost.
Even before the disruption caused by the Covid-19 pandemic, a trend toward adopting enhanced communications capabilities was accelerating. Fifty-eight percent of pension systems said their board members could participate and vote by phone or videoconference, up from 19 percent.
About 54 percent of funds offered live web conferences to members, and 19 percent were considering it. The share of pension systems that had implemented enhanced online portals to allow members to access account information rose to 52 percent, from 47 percent a...................... To view our full article Click here
|
RSS
