US Public Pensions

Huge Returns, Opportunity to Lower Risk

Exceptional fiscal 2021 pension investment returns will provide cost relief to governments, but liabilities remain stubbornly high and volatility risks loom.

Recently strong investment performance will drive pension funding improvements and provide governments with pension cost relief. But low interest rates and potential investment volatility mean that pension risks will remain stubbornly elevated for many state and local governments.

  • Fiscal year 2021 investment performance and its affect on pension funding levels, government contributions and retirement system cash flow.
  • The significance of retirement liabilities in the current state and local government credit environment.
  • Why volatility risks faced by governments via their pension systems are at historically high levels.
  • Retiree healthcare, other post-employment benefits (OPEB), liabilities remain significant for a segment of municipal issuers.
  • Speakers keyboard_arrow_down
    Tim Blake Managing Director - Public Finance Group Moody's Investors Service Bio
    Thomas Aaron Vice President - Senior Analyst Moody's Investors Service Bio
    Marcia Van Wagner Vice President – Senior Credit Officer Moody's Investors Service Bio
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