West Virginia Transforms Pension System from 9% to 90% Funding
West Virginia significantly improved its public pension funding by closing the Defined Contribution (DC) plan in 1991 and reopening a more sustainable Defined Benefit (DB) plan in 2005. The state's DB plan has since increased from approximately 9% to about 90% funded, with plans to eliminate unfunded liabilities by 2034–2035.
Topics: Defined Benefit (DB) Defined Contribution (DC) funding status retirement state pensions