Reason Foundation's State Pension Tracker Projections for 2023

This table forecasts state-managed pension plans' unfunded accrued liabilities (UAL) and funded ratios (FR) at the end of the 2023 fiscal year. For states with pension plans that still need to report final 2023 investment returns, the table includes projections showing the state's unfunded liabilities based on 5%, 7%, and 9% returns in 2023.