Research

Original data research from the PlainPension. Every page derives at least one statistic from our own database, cites primary sources inline, and documents its methodology and limits.

Download the plan-level funded-ratio extract cited on this page: public-pension-landscape.csv (PPD / Boston College CRR · CC0).

What can you learn from PlainPension research?

What this research covers

PlainPension research ranks US public pension plans from a live Public Plans Database mirror covering 197 plans across 51 states (latest plan year 2023); portfolio average funded ratio 75.5%.

197
public pension plans
51
states with plans
75.5%
avg funded ratio
2023
latest plan year

Studies below answer one ranking question each from the live PPD mirror; they are descriptive plan statistics, not investment, contribution, or retirement advice.

Funded Ratio Distribution, 197 US Public Pension Plans Histogram showing how 192 US public pension plans are distributed across funded-ratio buckets, from critically underfunded (under 40%) to fully funded (over 100%). 7 <40 4 40-50 16 50-60 38 60-70 56 70-80 32 80-90 30 90-100 9 >100 National avg 75.5% 60 39 19 0 plans Funded Ratio Bucket (% - actuarial assets / liabilities)
Distribution of 192 US public pension plans with a reported funded ratio, by bucket, Public Plans Database, current data vintage.

CalPERS 467 Billion in Assets: Top 10 US Public Pension Funds

Public Plans Database data shows CalPERS ($467B market assets), CalSTRS ($317B), and New York State Local Retirement ($250B) leading US public pension funds by market assets, with combined top-10 assets exceeding $2.1 trillion across California New York Texas Florida and Washington systems.

Sioux Falls Fire 24.4% Funded Ratio: Bottom 10 US Public Pensions

Public Plans Database data shows Sioux Falls Fire (24.4 percent funded), Providence Employees (24.6 percent), and City of Miami Fire/Police (25.8 percent) leading the worst-funded US public pension plans, with Louisiana Teachers at 28.2 percent funded and $66.4 billion unfunded liability anchoring the state-level distress tier.