The third quarter of 2014 brought good news and bad news for the 100 largest public pension plans in the United States.
The bad news: The Census Bureau reports that their total holdings in cash and security amounted to $3.305 trillion, down from the $3.365 trillion of the second quarter of 2014. Employee contributions to these public pension plans were down by 12.8% from the second to the third quarter of 2014, falling from $11.3 billion to $9.8 billion.
The good news is that the overall balance for these plans fell by only 1.8%. Better, the balance from the third quarter of 2014 was still 8% higher than the balance in the third quarter of 2013. And government contributions rose by 4.3% from the second to the third quarter, from $24 billion to $25 billion, and were 12.8% higher in the third quarter of 2014 than in the same quarter one year before.
The bad news: The Census Bureau reports that their total holdings in cash and security amounted to $3.305 trillion, down from the $3.365 trillion of the second quarter of 2014. Employee contributions to these public pension plans were down by 12.8% from the second to the third quarter of 2014, falling from $11.3 billion to $9.8 billion.
The good news is that the overall balance for these plans fell by only 1.8%. Better, the balance from the third quarter of 2014 was still 8% higher than the balance in the third quarter of 2013. And government contributions rose by 4.3% from the second to the third quarter, from $24 billion to $25 billion, and were 12.8% higher in the third quarter of 2014 than in the same quarter one year before.
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