Alabama ERS Basics

  • Established 1945
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, agent plan

Assets, Participants, and Benefits

Assets at Year-End, Alabama ERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 7.24
2002 6.42
2003 7.22
2004 7.80
2005 8.46
2006 9.00
2007 10.40
2008 8.65
2009 7.68
2010 8.18
2011 8.13
2012 9.19
2013 10.09
2014 10.88
2015 10.55
2016 11.18
2017 12.12
2018 12.72
2019 12.57

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

Fiscal Year Alabama ERS US State and Local Pensions
2001 3.0 2.5
2002 2.9 2.4
2003 2.8 2.3
2004 2.6 2.2
2005 2.5 2.1
2006 2.4 2.1
2007 2.4 2.0
2008 2.4 2.0
2009 2.3 1.9
2010 2.2 1.8
2011 2.0 1.7
2012 2.0 1.6
2013 1.9 1.5
2014 1.9 1.5
2015 1.8 1.5
2016 1.8 1.4
2017 1.8 1.4
2018 1.7 1.3
2019 1.6 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Alabama ERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 5.1 0.0 5.0 5.1
2002 4.9 0.0 4.8 4.9
2003 5.8 0.0 5.7 5.8
2004 6.3 0.0 7.3 6.3
2005 6.6 0.0 9.0 6.6
2006 7.9 0.0 9.3 7.9
2007 8.2 0.0 10.0 8.2
2008 9.3 0.0 10.4 9.3
2009 12.5 0.0 10.2 12.5
2010 10.4 0.0 10.5 10.4
2011 11.2 0.0 12.5 11.2
2012 9.8 0.0 12.9 9.8
2013 10.0 0.0 13.9 10.0
2014 0.0 11.0 14.5 11.0
2015 11.8 0.0 14.9 11.8
2016 12.2 0.0 14.8 12.2
2017 11.9 0.0 15.1 11.9
2018 11.6 0.0 18.1 11.6
2019 12.3 0.0 18.7 12.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Alabama ERS, 2001-2019

Fiscal Year Alabama ERS National Data
2001 100.2 106.5
2002 95.4 101.1
2003 91.1 94.2
2004 89.7 93.1
2005 84.0 91.1
2006 81.1 90.5
2007 79.0 91.2
2008 75.7 90.2
2009 72.2 83.2
2010 68.2 81.5
2011 65.8 80.4
2012 65.7 78.9
2013 65.7 78.7
2014 66.9 79.0
2015 67.3 78.2
2016 66.2 76.3
2017 67.8 76.4
2018 68.7 76.5
2019 68.2 76.3

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

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Investments

Asset Allocation for Alabama ERS, 2019

Category Percent
Equities 68.4
Fixed Income 31.6
Private Equity 0.0
Real Estate 0.0
Cash 0.0
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.0
Fixed Income 22.8
Private Equity 9.2
Real Estate 8.8
Cash 1.9
Other 0.0
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Alabama ERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 46.5 53.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 46.5 53.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 54.8 45.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 57.9 42.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2005 58.7 41.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2006 63.5 36.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2007 64.9 35.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2008 60.8 39.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2009 58.7 41.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2010 58.6 41.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2011 56.0 44.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2012 59.1 40.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2013 63.8 36.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2014 65.1 34.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2015 63.2 36.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2016 64.4 35.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2017 70.7 29.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2018 70.5 29.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2019 68.4 31.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Source: Public Plans Database

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Annual Return as of September 30 for Alabama ERS, 2001-2019

Fiscal Year Alabama ERS Assumed return
2001 -6.36 8.00
2002 -9.29 8.00
2003 16.48 8.00
2004 10.06 8.00
2005 10.98 8.00
2006 8.37 8.00
2007 17.92 8.00
2008 -15.21 8.00
2009 -10.03 8.00
2010 8.47 8.00
2011 2.21 8.00
2012 18.01 8.00
2013 14.60 8.00
2014 12.02 8.00
2015 1.05 8.00
2016 10.22 7.88
2017 12.86 7.75
2018 9.29 7.70
2019 2.78 7.70

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Alabama ERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -150.9 7,236.7
2002 -155.9 6,424.4
2003 -140.5 7,222.8
2004 -153.0 7,795.6
2005 -172.1 8,464.5
2006 -166.3 9,001.9
2007 -197.2 10,401.2
2008 -179.4 8,647.7
2009 -80.8 7,679.0
2010 -199.0 8,176.7
2011 -243.2 8,130.4
2012 -369.6 9,188.7
2013 -393.2 10,091.9
2014 -394.5 10,884.0
2015 -446.6 10,551.9
2016 -427.9 11,177.1
2017 -456.8 12,122.5
2018 -493.1 12,720.4
2019 -472.5 12,568.5

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Alabama ERS
2001-2019

Fiscal Year Alabama ERS National Average
2001 -2.1 -2.3
2002 -2.4 -2.3
2003 -1.9 -2.6
2004 -2.0 -1.7
2005 -2.0 -1.9
2006 -1.8 -1.9
2007 -1.9 -1.7
2008 -2.1 -1.9
2009 -1.1 -2.7
2010 -2.4 -2.9
2011 -3.0 -2.8
2012 -4.0 -3.1
2013 -3.9 -3.0
2014 -3.6 -2.7
2015 -4.2 -2.8
2016 -3.8 -3.0
2017 -3.8 -2.9
2018 -3.9 -2.4
2019 -3.8 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Alabama ERS benefit descriptions.