The Governmental Accounting Standards Board (GASB) Statement No. 67 requires the System’s disclosure of the ratio of the fiduciary net position to total pension liability. The fiduciary net position is the plan’s net assets at fair value. Total pension liability is the present value of projected benefits already earned by employees.
For the fiscal year ended March 31, 2021, the GASB 67 ratios are 99.95 percent of the total pension liability for the Employees’ Retirement System (ERS) and 95.79 percent of the total pension liability for the Police and Fire Retirement System (PFRS).