SEATTLE--(BUSINESS WIRE)--Nov 24, 2025-- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation’s 100 largest public defined benefit plans. For the seventh straight month, the PPFI funded ratio improved in October, rising from 85.4% as of September 30 to 86.3% as of October 31, surpassing the previous high-water mark of 85.5% set at the end of 2021. Another month of strong investment returns—estimated at 1.0% in aggregate for October—drove this result and helped to boost the PPFI funded status by $64 billion while the deficit between plan assets and liabilities shrank to $907 billion.