Iowa Gubernatorial Debate on Pensions

In 2016 Governor Terry Branstad opened a debate over the future of public employees’ pensions in Iowa that went nowhere until it turned up as a scare tactic in this years’ final gubernatorial debate:
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So how does IPERS look?

According to the June 30, 2017 actuarial valuation the large negative cash flow ($850 million) portends trouble ahead:

Plan Name: Iowa Public Employees’ Retirement System

Total participants @ 6/30/17: 355,372 including:

  • Retirees: 117,508
  • Separated but entitled to benefits: 67,955
  • Still working: 169,909

Asset Value (Market) @ 6/30/17: $30,779,116,326

Value of liabilities (7%) @ 6/30/17: $37,440,000,000 including:

  • Retirees: $19,335,000,000
  • Separated but entitled to benefits: $835,000,000
  • Still working: $17,270,000,000

Funded ratio: 82.21%

Unfunded Liabilities as of 1/1/17: $6,660,883,674

Employer Contributions: $704,766,114

Member Contributions: $473,354,932

Payouts: $1,943,103,208

Expenses: $83,960,081

 

2 responses to this post.

  1. Posted by dentss dunnigan on October 23, 2018 at 9:46 am

    Dow down 400 pts …….

    Reply

    • Posted by El gaupo on October 23, 2018 at 12:43 pm

      Not worried yet. I wouldn’t expect to much growth next year though.
      I am curious how Amazon earnings will turn out.

      Reply

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