The Governmental Accounting Standards Board (GASB) no longer requires the computation of the traditional (GASB 25) funded ratio. The more recent GASB Statement No. 67 requires the 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, 2020, the GASB 67 ratios are 86.39 for the Employees’ Retirement System (ERS) and 84.86 for the Police and Fire Retirement System (PFRS).