In this article, we discuss increases in interest rates from historic lows, potential impacts on PERS' portfolio expectations, and policy issues surrounding changing the assumed rate of return. This article offers public plan stakeholders some considerations about the potential impact of the interest rate increases on the assumed rate of investment return assumption used in actuarial valuations.

This issue includes the following news summaries:

• CCA Releases Updated White Paper on Public Pension Plans Funding Policies and Practices
• GAO Releases Report on Social Security's Reform Options
• S&P Global Reports U.S. Public Pension Funded Ratios Continue to Improve in 2024
• MissionSquare Releases State and Local Government Workforce Survey Report for 2024

Layered amortization is an actuarial tool that can be used by a retirement plan to help achieve two primary objectives of:

1. paying off the existing Unfunded Actuarial Accrued Liability (UAAL); and
2. stabilizing annual contributions.

This article explores the layered amortization approach which may be utilized by a retirement plan to help meet its funding objectives in volatile times.

This issue includes the following news summaries:

• American Academy of Actuaries Publishes Issue Brief on the 2024 Social Security Trustees Report
• IRS Releases Final and Newly Proposed Regulations on RMDs
• NIRS Reports on the Views of Americans on Social Security
• NASRA Publishes Primer on State Retirement System Governing Authority Arrangements
• NASRA Publishes Analysis of Public Retirement System Disability Incidence
• Moody's Reports that State and Local Government Unfunded Pension Liabilities Decline for Fourth Consecutive Year

This issue includes the following news summaries:

• NIRS Releases Report on the Effect of DB Pension Plans in Recruiting and Retaining Public Safety Professionals
• CRR Publishes Issue Brief on the Comparison of Public Pension Plan Returns to Simple Index Investing
• NCPERS Releases Report on Hidden Costs of Pension Reforms
• NASBO Releases Spring 2024 Fiscal Survey of States
• CRR Reports on the Risks and Effects of Inflation on Near Retirees and Retirees
• GASB Releases Post-Implementation Review Report for Statements No. 67 and No. 68
• EBRI Reports on Employment Trends of Americans Ages 55 and Older
• Census Bureau Releases Findings from 2023 Public Employment and Payroll Survey