What Every Employer Should Know
A funded ratio is a measure of a system’s assets to liabilities. As of April 1, 2014, our system’s funded ratio is 92.2 percent. According to the Public Fund Survey of the National Association of State Retirement Administrators, the average funded ratio of the plans in the survey is 73.3 percent.
However, even more important than the current funded ratio is the System’s discipline to collect the actuarially determined contributions. That is what sets us apart from many systems and one of the reasons we are so well funded.
The average employer contribution rates for 2016 will be 18.2 percent in ERS, and 24.7 percent in PFRS. This is a reduction of 1.9 percent for ERS and 2.9 percent for PFRS.