"These case studies examine the public pension systems in four states with a long tradition of being well-funded to determine what successful practices they have in common.... While each of the defined benefit plans has a unique history and legal framework, they share these practices: a commitment to fund the annual required contribution in both good and bad financial times; conservative, realistic assumptions that are adjusted based on experience; and changes to benefit levels and contribution rates as needed. The funded ratio for the plans studied ranges from 87.6 percent to 99.8 percent."