(The Center Square) – Washington state’s public pension system is among the best funded in the nation, but concerns remain that long-term planning decisions could end up costing taxpayers in more ways than one. While some stakeholders have called attention to optimistic investment forecasting, others believe the state should actually reduce spending into various pension plans expected to be overfunded.

During this year’s legislative session, state lawmakers enacted Senate Bill 5357, raising the assumed rate of return on pension investments from 7% to 7.25%. The change allowed the Legislature to avoid putting millions of dollars into the system without affecting the unfunded liability.

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