The analysis explores how plan liabilities and funded ratios would be affected by using RP-2014, a new mortality table designed for private plans; and a stricter standard that fully incorporates future mortality improvements.
Under the first scenario, liabilities and funding would barely change. Under the second, the average funded ratio would drop from 73 to 67 percent. Since not even the private sector fully incorporates future improvements, public plans seem to be making a serious effort to keep their assumptions up to date.