Most state and local public retirement systems 'currently have assets sufficient to cover their benefit commitments for a decade or more,' despite suffering significant investment losses from the recent economic downturn, according to a [GAO] report released March 2.... '[E]ven if these plans received no more contributions or investment returns, most large plans would not exhaust their assets for a decade or longer, since they hold assets at least 10 times their annual expenditures[.]'  MORE >>