State Data » California » Orange County ERS » Orange County ERS

Orange County ERS Basics

  • Established 1945
  • Currently open to new hires
  • Plan covers local employees
  • Plan members not covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Orange County ERS, 2001-2018

Fiscal Year Net Assets (billions)
2001 4.6
2002 4.2
2003 5.0
2004 5.6
2005 6.1
2006 7.0
2007 7.9
2008 6.4
2009 7.5
2010 8.5
2011 8.6
2012 9.6
2013 10.8
2014 11.5
2015 11.7
2016 12.8
2017 14.8
2018 14.5

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Orange County ERS US State and Local Pensions
2001 2.7 3.1
2002 2.6 2.9
2003 2.5 2.5
2004 2.4 2.5
2005 2.2 2.5
2006 2.1 2.4
2007 2.1 2.3
2008 2.0 2.2
2009 1.8 2.1
2010 1.7 1.8
2011 1.6 1.7
2012 1.5 1.7
2013 1.5 1.6
2014 1.4 1.5
2015 1.4 1.5
2016 1.3 1.5
2017 1.3 1.5
2018 1.2 1.4

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 Orange County ERS, 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 1.1 0.0 9.5 1.1 1.1
2002 1.0 0.0 10.1 1.0 1.0
2003 10.0 0.0 10.4 10.0 10.0
2004 15.5 0.0 11.1 15.5 15.5
2005 17.8 0.0 12.1 17.8 17.8
2006 21.0 0.0 12.3 21.0 21.0
2007 22.4 0.0 11.6 22.4 22.4
2008 23.0 0.0 10.1 22.9 22.9
2009 20.9 0.0 11.5 20.9 20.9
2010 23.6 0.0 12.8 23.6 23.6
2011 23.9 0.0 13.6 23.9 23.9
2012 25.3 0.0 14.4 25.3 25.3
2013 26.6 0.0 16.7 26.6 26.6
2014 38.0 0.0 16.5 28.9 28.9
2015 35.0 0.0 17.0 30.8 30.8
2016 32.2 0.0 17.0 29.6 29.6
2017 31.6 0.0 14.3 29.6 29.6
2018 31.0 0.0 14.7 29.7 29.7

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Orange County ERS, 2001-2018

Fiscal Year Orange County ERS National Data
2001 94.7 98.7
2002 82.8 85.4
2003 78.5 83.7
2004 70.9 84.1
2005 71.5 83.5
2006 73.8 86.8
2007 74.1 89.5
2008 71.3 77.0
2009 68.8 73.3
2010 69.8 75.5
2011 67.0 73.4
2012 62.5 74.9
2013 66.0 75.4
2014 69.8 77.4
2015 71.7 79.1
2016 73.1 76.5
2017 72.3 77.6
2018 72.4 75.6

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 Orange County ERS, 2018

Category Percent
Equities 37.0
Fixed Income 17.0
Private Equity 10.0
Real Estate 0.0
Cash 2.0
Other 0.0
Commodities 18.0
Hedge Fund 16.0
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 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Orange County ERS, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 44.3 41.0 3.8 7.2 3.6 0.0 0.0 0.0 0.0
2002 43.3 39.9 3.9 8.3 4.5 0.0 0.0 0.0 0.0
2003 49.8 28.6 3.1 5.0 13.6 0.0 0.0 0.0 0.0
2004 42.5 43.7 2.7 6.0 5.1 0.0 0.0 0.0 0.0
2005 46.8 37.4 2.3 7.7 1.3 0.0 0.0 4.5 0.0
2006 48.1 36.8 1.9 7.7 1.3 0.0 0.0 4.1 0.0
2007 45.1 40.3 1.9 7.7 1.0 0.0 0.0 4.0 0.0
2008 31.9 34.1 2.6 9.9 1.6 0.0 12.2 7.8 0.0
2009 45.1 26.9 2.3 7.3 1.3 0.0 10.1 7.1 0.0
2010 44.3 23.7 2.3 8.6 1.8 0.0 11.9 7.0 0.0
2011 40.0 24.0 3.0 10.0 0.0 0.0 16.0 7.0 0.0
2012 43.0 22.0 3.0 10.0 2.0 0.0 11.0 9.0 0.0
2013 39.0 18.0 4.0 9.0 2.0 0.0 9.0 19.0 0.0
2014 38.0 17.0 4.0 9.0 2.0 0.0 8.0 22.0 0.0
2015 37.0 15.0 5.0 9.0 3.0 0.0 7.0 24.0 0.0
2016 36.0 16.0 5.0 8.0 4.0 0.0 7.0 24.0 0.0
2017 40.0 13.0 9.0 0.0 3.0 0.0 16.0 19.0 0.0
2018 37.0 17.0 10.0 0.0 2.0 0.0 18.0 16.0 0.0

Source: Public Plans Database


Annual Return as of December 31 for Orange County ERS, 2001-2018

Fiscal Year Orange County ERS Assumed return
2001 -3.22 8.00
2002 -5.46 7.50
2003 19.84 7.50
2004 11.40 7.50
2005 8.83 7.75
2006 13.55 7.75
2007 10.75 7.75
2008 -20.71 7.75
2009 18.52 7.75
2010 11.70 7.75
2011 0.74 7.75
2012 12.26 7.25
2013 11.14 7.25
2014 4.93 7.25
2015 0.09 7.25
2016 8.52 7.25
2017 14.51 7.00
2018 -1.67 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Orange County ERS
2001-2018

Fiscal Year Cash Flow Assets
2001 -95.7 4,562.5
2002 -103.4 4,190.2
2003 -19.7 4,959.6
2004 28.4 5,557.0
2005 58.8 6,077.8
2006 79.1 6,987.1
2007 122.0 7,894.0
2008 135.5 6,360.4
2009 77.7 7,503.0
2010 78.6 8,470.1
2011 64.8 8,585.4
2012 42.7 9,630.3
2013 35.1 10,821.3
2014 215.6 11,536.1
2015 132.1 11,657.3
2016 90.6 12,809.2
2017 53.1 14,801.9
2018 4.4 14,481.7

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Orange County ERS
2001-2018

Fiscal Year Orange County ERS National Average
2001 -2.1 -0.6
2002 -2.5 -0.2
2003 -0.4 -0.9
2004 0.5 -1.0
2005 1.0 -1.2
2006 1.1 -1.5
2007 1.5 -1.6
2008 2.1 -2.7
2009 1.0 -2.8
2010 0.9 -2.9
2011 0.8 -3.4
2012 0.4 -3.6
2013 0.3 -3.2
2014 1.9 -3.4
2015 1.1 -3.9
2016 0.7 -3.8
2017 0.4 -3.5
2018 0.0 -3.9

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Orange County ERS benefit descriptions.