State pension funding at 96%

From the Department of Retirement Systems:

Public employees in Washington State can take comfort in the security of their retirement funds. Our state pension system, administered through the Department of Retirement Systems, is 96% funded. This places us among the top 5 pension systems in the nation. The Office of the State Actuary calculates this funding status yearly.

Washington is a leader in designing and maintaining sustainable public pensions. Our state is one of the first to use hybrid defined contribution/defined benefit plans. Combined with the investment success of the Washington State Investment Board, these innovations have landed Washington’s…