CHICAGO — The funded ratios of state pension plans remains on the decline even as investment returns rebound from losses. That has put more pressure on state balance sheets and tested their commitment to meet actuarially based contribution requirements, Standard & Poor’s says in a new report.

“Without exception, reduced pension-asset values relative to estimated liabilities is placing upward pressure on the annual required contributions of state governments, compounding what is already a difficult budget cycle for most states,” analyst Gabriel Petek said in the agency’s annual state pension report, “U.S. States’ Pension Funded Ratios Drift Downward,” released Thursday.

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