'It was a really bad quarter': Public pensions lost a median of 7.9% from fiscal year 2021 to 2022, their worst performance since 2009, The Wall Street Journal reported Tuesday. Public pensions last year had a record-setting median return of 27%, but retirement plans remain underfunded as the growth of costs has outpaced the growth in assets, according to the WSJ, citing data from analytics firm Wilshire Trust Universe Comparison Service.