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Consolidated Public Retirement Board reports most state pension plans improving, public employees plan fully funded
Summary
Jeff Fleck, executive director of the Consolidated Public Retirement Board, told the Senate Pensions Committee that the public employees retirement plan is 101.9% funded and other plans show varying levels of progress, while the board continues to monitor assumptions and membership tiers.
Jeff Fleck, executive director of the Consolidated Public Retirement Board, told the Senate Pensions Committee that the public employees retirement plan is now 101.9% funded and reached full funding about 10 years earlier than scheduled.
The update, presented during the committee's meeting, summarized funding levels across the 10 retirement plans the board administers, recent membership shifts between Tier 1 and Tier 2, and the board's long-term actuarial assumptions. "We all should be very proud of the retirement systems in West Virginia," Fleck said, describing the state as a national leader on some funding measures.
Fleck gave an overview of the consolidated board's "cheat sheet," a single-page snapshot of the plans. He said the board administers nine…
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