(Reuters) - The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves, according to a new actuarial study to be released on Monday.
The pension systems reported a median funding level of 75.1 percent. The study by the actuarial firm Milliman, which used different ways to value assets and measure liabilities, finds an aggregate level of funding of 67.8 percent.
But Milliman, one of the world largest actuarial firms took a close look at
Rebecca Sielman, the report's author, said results should reassure the public that
The difference between what public pensions across the
"The numbers really didn't change that much," she said. "It really didn't move the needle."
Both the pension funds' reported results and Milliman's findings fell within the range of previous estimates from other studies of the total size of the public pension shortfall in the