Many public pension plans still recovering from economic downturn.

• Position: Brief article

The Center for State and Local Government Excellence 2014 report of state and local government pension funding finds that many plans are still recovering from the effects of the economic downturn. The paper, titled the Funding of State and Local Pensions 2013-2017, surveyed 114 state and 36 local plans.

Its key findings include the following:

* Despite a strong stock market, the funded status of public plans in 2013 remained unchanged at 72 percent for two reasons: actuarial smoothed assets grew modestly, and the California Public Employees Retirement System, one of the nation's largest plans, significantly revised its reported funded ratio.

* Funded levels among plans vary significantly.

* Many...