State Data » Washington » Washington Department of Retirement Systems » Washington School Employees Plan 2/3

Washington School Employees Plan 2/3 Basics

  • Established 2000
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Washington School Employees Plan 2/3, 2001-2019

Fiscal Year Net Assets (billions)
2001 1.3
2002 1.2
2003 1.3
2004 1.5
2005 1.7
2006 2.0
2007 2.5
2008 2.4
2009 1.9
2010 2.2
2011 2.7
2012 2.8
2013 3.2
2014 3.9
2015 4.1
2016 4.2
2017 4.9
2018 5.4
2019 6.1

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Washington School Employees Plan 2/3 US State and Local Pensions
2001 179.7 2.5
2002 80.0 2.4
2003 47.2 2.3
2004 31.6 2.2
2005 23.6 2.1
2006 18.4 2.1
2007 16.2 2.0
2008 13.4 2.0
2009 11.3 1.9
2010 9.7 1.8
2011 8.1 1.7
2012 6.7 1.6
2013 5.8 1.5
2014 5.1 1.5
2015 4.5 1.5
2016 4.1 1.4
2017 3.8 1.4
2018 3.5 1.3
2019 3.5 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Washington School Employees Plan 2/3, 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 {role:annotation}
2001 2.0 0.0 5.0 0.7 0.7
2002 1.0 0.8 4.8 1.8 1.8
2003 0.5 3.4 5.7 3.9 3.9
2004 0.8 3.7 7.3 4.5 4.5
2005 0.9 4.5 9.0 5.3 5.3
2006 2.4 4.1 9.3 6.5 6.5
2007 3.6 2.0 10.0 5.6 5.6
2008 3.8 1.7 10.4 5.5 5.5
2009 4.3 0.5 10.2 4.9 4.9
2010 4.2 1.4 10.5 5.6 5.6
2011 4.2 1.8 12.5 5.9 5.9
2012 5.1 0.7 12.9 5.8 5.8
2013 5.2 0.5 13.9 5.7 5.7
2014 5.6 0.1 14.5 5.7 5.7
2015 5.7 0.0 14.9 5.6 5.6
2016 6.2 1.6 14.8 7.8 7.8
2017 6.7 1.1 15.1 7.8 7.8
2018 8.1 0.8 18.1 8.9 8.9
2019 8.2 0.6 18.9 8.8 8.8

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Washington School Employees Plan 2/3, 2001-2019

Fiscal Year Washington School Employees Plan 2/3 National Data
2001 197.0 106.5
2002 169.0 101.1
2003 147.1 94.2
2004 136.9 93.1
2005 121.9 91.1
2006 125.4 90.5
2007 126.2 91.2
2008 120.8 90.2
2009 115.7 83.2
2010 112.5 81.5
2011 110.2 80.4
2012 109.9 78.9
2013 101.9 78.7
2014 91.0 79.0
2015 89.0 78.2
2016 87.0 76.3
2017 88.0 76.4
2018 89.0 76.5
2019 89.0 76.0

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.

Investments

Asset Allocation for Washington School Employees Plan 2/3, 2019

Category Percent
Equities 33.4
Fixed Income 21.5
Private Equity 21.5
Real Estate 18.3
Cash 0.1
Other 0.0
Commodities 5.1
Hedge Fund 0.1
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Washington School Employees Plan 2/3, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 51.2 25.6 13.4 8.5 1.3 0.0 0.0 0.0 0.0
2002 48.3 28.0 13.2 9.2 1.3 0.0 0.0 0.0 0.0
2003 47.7 27.3 14.4 9.4 1.2 0.0 0.0 0.0 0.0
2004 50.0 25.6 12.0 9.4 1.1 0.0 0.0 0.0 0.0
2005 49.2 26.0 14.6 9.3 1.0 0.0 0.0 0.0 0.0
2006 47.8 24.1 16.8 10.5 0.9 0.0 0.0 0.0 0.0
2007 47.1 23.5 18.3 11.0 0.1 0.0 0.0 0.1 0.0
2008 38.7 23.4 22.3 14.0 0.1 0.0 0.7 0.9 0.0
2009 36.0 23.2 21.2 17.5 0.2 0.0 1.1 0.8 0.0
2010 34.7 21.9 25.8 14.2 1.4 0.0 1.2 0.8 0.0
2011 36.8 19.6 25.1 13.8 1.6 0.0 1.2 2.0 0.0
2012 36.0 22.2 26.0 13.7 0.2 0.0 1.4 0.6 0.0
2013 37.7 22.6 23.8 13.6 0.2 0.0 1.5 0.5 0.0
2014 38.0 25.1 22.3 12.4 0.2 0.0 1.6 0.4 0.0
2015 37.3 23.8 22.0 14.5 0.2 0.0 2.0 0.3 0.0
2016 38.0 22.0 21.0 15.8 0.3 0.0 2.9 0.1 0.0
2017 39.4 19.3 20.4 17.0 0.1 0.0 3.8 0.0 0.0
2018 34.2 23.5 20.6 17.2 0.1 0.0 4.4 0.0 0.0
2019 33.4 21.5 21.5 18.3 0.1 0.0 5.1 0.1 0.0

Source: Public Plans Database


Annual Return as of June 30 for Washington School Employees Plan 2/3, 2001-2019

Fiscal Year Washington School Employees Plan 2/3 Assumed return
2001 -5.96 8.00
2002 -6.40 8.00
2003 4.15 8.00
2004 16.06 8.00
2005 13.34 8.00
2006 16.69 8.00
2007 21.33 8.00
2008 -1.24 8.00
2009 -22.84 8.00
2010 13.22 8.00
2011 21.14 7.90
2012 1.40 7.90
2013 12.36 7.80
2014 17.06 7.80
2015 4.93 7.70
2016 2.65 7.70
2017 13.44 7.50
2018 10.20 7.50
2019 8.36 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Washington School Employees Plan 2/3
2002-2019

Fiscal Year Cash Flow Assets
2002 9.5 1,242.7
2003 0.1 1,301.3
2004 2.5 1,510.4
2005 0.7 1,715.9
2006 24.9 2,031.7
2007 41.9 2,512.5
2008 -42.4 2,443.5
2009 57.1 1,943.8
2010 36.2 2,237.4
2011 34.0 2,746.5
2012 41.0 2,827.3
2013 35.6 3,211.9
2014 34.6 3,856.4
2015 31.5 4,067.9
2016 44.4 4,214.5
2017 49.8 4,863.7
2018 89.0 5,421.0
2019 89.7 6,119.2

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Washington School Employees Plan 2/3
2002-2019

Fiscal Year Washington School Employees Plan 2/3 National Average
2002 0.8 -2.3
2003 0.0 -2.6
2004 0.2 -1.7
2005 0.0 -1.9
2006 1.2 -1.9
2007 1.7 -1.7
2008 -1.7 -1.9
2009 2.9 -2.7
2010 1.6 -2.9
2011 1.2 -2.8
2012 1.4 -3.1
2013 1.1 -3.0
2014 0.9 -2.7
2015 0.8 -2.8
2016 1.1 -3.0
2017 1.0 -2.9
2018 1.6 -2.4
2019 1.5 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Washington School Employees Plan 2/3 benefit descriptions.