West Virginia PERS Basics

  • Established 1961
  • 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, West Virginia PERS, 2001-2018

Fiscal Year Net Assets (billions)
2001 2.7
2002 2.6
2003 2.7
2004 3.1
2005 3.4
2006 3.7
2007 4.3
2008 3.9
2009 3.2
2010 3.9
2011 4.5
2012 4.5
2013 5.0
2014 5.8
2015 5.9
2016 5.7
2017 6.4
2018 6.8

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year West Virginia PERS US State and Local Pensions
2001 1.9 2.5
2002 1.9 2.4
2003 1.9 2.3
2004 1.9 2.2
2005 1.9 2.1
2006 1.8 2.1
2007 1.7 2.0
2008 1.7 2.0
2009 1.7 1.9
2010 1.6 1.8
2011 1.6 1.7
2012 1.6 1.6
2013 1.5 1.5
2014 1.5 1.5
2015 1.4 1.5
2016 1.4 1.4
2017 1.3 1.4
2018 1.3 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 West Virginia PERS, 2001-2018

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 9.2 0.0 5.0 9.1 9.1
2002 9.3 0.0 4.8 8.9 8.9
2003 9.3 1.2 5.7 10.6 10.6
2004 10.2 0.1 7.3 10.3 10.3
2005 10.2 0.0 9.0 10.3 10.3
2006 11.5 0.0 9.3 10.7 10.7
2007 10.3 0.0 10.0 10.2 10.2
2008 10.5 0.0 10.4 10.3 10.3
2009 10.0 0.0 10.2 10.0 10.0
2010 10.6 1.4 10.5 12.0 12.0
2011 12.1 2.4 12.5 14.5 14.5
2012 13.8 0.0 12.9 13.1 13.1
2013 13.5 0.5 14.0 14.0 14.0
2014 14.0 0.5 14.4 14.5 14.5
2015 13.6 0.0 14.9 13.2 13.2
2016 14.1 0.0 14.8 11.3 11.3
2017 13.2 0.0 15.1 11.1 11.1
2018 13.1 0.0 15.9 10.7 10.7

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for West Virginia PERS, 2001-2018

Fiscal Year West Virginia PERS National Data
2001 84.4 106.5
2002 75.4 101.1
2003 73.1 94.2
2004 80.0 93.1
2005 83.6 91.1
2006 86.8 90.5
2007 97.0 91.2
2008 84.2 90.2
2009 79.7 83.2
2010 74.6 81.5
2011 78.4 80.4
2012 77.6 78.9
2013 79.7 78.7
2014 83.1 79.0
2015 86.8 78.2
2016 89.0 76.3
2017 91.5 76.4
2018 92.9 76.6

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 West Virginia PERS, 2018

Category Percent
Equities 50.3
Fixed Income 13.6
Private Equity 11.3
Real Estate 9.8
Cash 0.1
Other 0.0
Commodities 0.0
Hedge Fund 14.9
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for West Virginia PERS, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 59.0 41.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 59.0 40.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2003 61.0 38.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2004 61.0 38.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2005 60.4 38.6 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2006 57.4 41.6 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2007 61.4 37.6 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2008 48.0 41.0 11.0 0.0 0.0 0.0 0.0 0.0 0.0
2009 51.1 28.7 7.8 0.5 0.5 0.0 0.0 11.4 0.0
2010 47.5 25.1 10.9 5.9 0.4 0.0 0.0 10.3 0.0
2011 50.1 28.1 10.1 2.5 0.4 0.0 0.0 8.9 0.0
2012 49.1 24.0 9.9 6.3 0.6 0.0 0.0 10.1 0.0
2013 50.9 20.7 9.7 8.2 0.3 0.0 0.0 10.2 0.0
2014 55.1 15.4 9.8 9.2 0.3 0.0 0.0 10.3 0.0
2015 54.1 14.7 9.8 10.4 0.4 0.0 0.0 10.7 0.0
2016 54.4 13.3 10.4 10.9 0.1 0.0 0.0 10.9 0.0
2017 53.3 14.1 10.5 10.4 0.2 0.0 0.0 11.5 0.0
2018 50.3 13.6 11.3 9.8 0.1 0.0 0.0 14.9 0.0

Source: Public Plans Database


Annual Return as of June 30 for West Virginia PERS, 2001-2018

Fiscal Year West Virginia PERS Assumed return
2001 -0.30 8.00
2002 -2.90 7.50
2003 4.90 7.50
2004 15.20 7.50
2005 10.70 7.50
2006 9.50 7.50
2007 17.60 7.50
2008 -6.50 7.50
2009 -15.60 7.50
2010 16.00 7.50
2011 20.70 7.50
2012 1.10 7.50
2013 13.10 7.50
2014 17.90 7.50
2015 3.90 7.50
2016 -0.10 7.50
2017 15.80 7.50
2018 9.80 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
West Virginia PERS
2001-2018

Fiscal Year Cash Flow Assets
2001 -11.2 2,681.4
2002 -16.2 2,588.8
2003 -14.5 2,699.9
2004 -12.4 3,095.7
2005 -21.8 3,404.7
2006 -25.7 3,700.2
2007 -57.4 4,293.3
2008 -66.5 3,939.1
2009 -75.9 3,248.3
2010 98.1 3,866.6
2011 -80.7 4,544.6
2012 -69.4 4,523.3
2013 -90.0 4,999.6
2014 -102.6 5,761.1
2015 -126.9 5,853.6
2016 -149.6 5,697.4
2017 -188.5 6,385.1
2018 -223.3 6,769.6

Source: Public Plans Database


Cash Flow as a Percentage of Assets
West Virginia PERS
2001-2018

Fiscal Year West Virginia PERS National Average
2001 -0.4 -2.3
2002 -0.6 -2.3
2003 -0.5 -2.6
2004 -0.4 -1.7
2005 -0.6 -1.9
2006 -0.7 -1.9
2007 -1.3 -1.7
2008 -1.7 -1.9
2009 -2.3 -2.7
2010 2.5 -2.9
2011 -1.8 -2.8
2012 -1.5 -3.1
2013 -1.8 -3.0
2014 -1.8 -2.7
2015 -2.2 -2.8
2016 -2.6 -3.0
2017 -3.0 -2.9
2018 -3.3 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for West Virginia PERS benefit descriptions.