Plan Data | Public Plans Data

Milwaukee City ERS Basics

Established 1938
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

State and local government pension benefits are paid from trust funds to which public employees and their employers contributed while they were working, not from general operating revenues. Trust fund assets are invested and grow over time. The combined value of defined benefit plan assets held by state and local governments as of Q2 2022 decreased to $5.3 trillion, from $5.7 trillion as of Q2 2022 (Federal Reserve Flow of Funds, June 2024). PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Assets at Year-End, Milwaukee City ERS, 2001-2022

Fiscal Year	Net Assets (billions)
2001	3.88
2002	3.36
2003	4.08
2004	4.42
2005	4.61
2006	5.09
2007	5.23
2008	3.40
2009	4.02
2010	4.32
2011	4.01
2012	4.38
2013	4.95
2014	4.95
2015	4.75
2016	4.89
2017	5.40
2018	4.95
2019	5.56
2020	5.65
2021	6.43
2022	5.53

Source: Public Plans Database

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State and local employees make up around 10-15 percent of the US workforce. About a quarter of public sector workers are covered by a public pension in lieu of Social Security, including nearly half of all teachers and over two-thirds of firefighters and public safety officers. Public employees live in every city and county in the nation; more than 90 percent retire in the same jurisdiction where they worked. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Number of Actives per Annuitant, 2001-2022

Fiscal Year	Milwaukee City ERS	US State and Local Pensions
2001	1.3	2.4
2002	1.2	2.3
2003	1.2	2.2
2004	1.1	2.1
2005	1.1	2.1
2006	1.1	2.0
2007	1.1	2.0
2008	1.0	1.9
2009	1.0	1.9
2010	1.0	1.8
2011	0.9	1.7
2012	0.9	1.6
2013	0.9	1.5
2014	0.9	1.4
2015	0.9	1.4
2016	0.9	1.4
2017	0.8	1.4
2018	0.8	1.3
2019	0.8	1.3
2020	0.8	1.3
2021	0.7	1.2
2022	0.7	1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Membership for Milwaukee City ERS

Actives	Beneficiaries	Total Membership
9,800	13,853	27,231

Source: Public Plans Database

Costs

The Annual Required Contribution (ARC) is the amount needed to finance benefits accrued each year, plus the cost to amortize unfunded liabilities from past years, minus required employee contributions. It is a projection that matches a yearly payment amount to a particular amortization period, taking into consideration an assortment of assumptions adopted by the plan. In practice, all plans do not calculate the ARC in the same manner. Assumptions used to calculate the ARC reflect actual plan experience, including investment return , actuarial cost, salary growth, total payroll growth and mortality, as well as an adopted amortization method. These assumptions and methods will differ from one plan another, so caution should be taken when comparing ARC between plans. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Milwaukee City ERS, 2002-2022

Fiscal Year	Portion of Employer ARC paid	US Avg Employer ARC	ARC as a Percent of Payroll
2002	0.0	8.7	0.0
2003	0.0	10.5	0.0
2004	0.0	11.8	0.0
2005	0.0	13.7	0.0
2006	0.0	14.3	0.0
2007	0.0	13.9	0.0
2008	0.0	12.8	0.0
2009	10.9	14.4	10.9
2010	0.0	15.5	0.0
2011	0.0	16.4	0.0
2012	14.0	18.1	14.0
2013	15.2	20.3	15.2
2014	13.7	20.6	13.7
2015	13.5	20.6	13.5
2016	12.7	21.5	12.7
2017	14.5	21.4	14.5
2018	14.5	22.5	14.5
2019	16.6	22.6	14.3
2020	14.7	23.4	14.2
2021	15.5	23.6	14.2
2022	21.0	24.1	14.1

Note: The Employer ARC is equal to zero in years when employee contributions are sufficient to cover the full ARC.

Note: The employer's annual required contribution as a percent of payroll is calculated by dividing the dollar amount reported in the schedule of employer contributions by the covered payroll reported in the schedule of funding. The U.S. Average Employer data reflects the average for plans of similar type and social Security coverage to the plan.

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

While funded ratios among pension plans vary substantially, in the aggregate, public pension funding levels rose steadily during the 1990s, due largely to strong returns in global equity markets. Since then, sharp market downturns in 2000-02 and 2008-09 negatively affected asset values and increased unfunded pension liabilities and required contributions. A combination of the market downturns, insufficient contributions (for some plans), and increased benefit levels (also for some plans) resulted in a decline in aggregate funding level between 2001 and 2012, and has since remained relatively stable.

Actuarial Funded Ratio for Milwaukee City ERS, 2001-2022

Fiscal Year	Milwaukee City ERS	National Data
2001	137.2	101.7
2002	115.2	94.6
2003	116.0	88.8
2004	116.7	87.0
2005	122.9	85.4
2006	127.4	85.2
2007	131.2	86.3
2008	99.1	84.4
2009	112.8	78.4
2010	104.4	75.7
2011	96.0	74.3
2012	90.8	72.3
2013	94.8	71.8
2014	97.2	73.2
2015	96.7	73.2
2016	96.1	71.6
2017	89.9	72.0
2018	81.5	72.4
2019	80.1	72.5
2020	80.7	72.6
2021	83.4	75.8
2022	82.7	76.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

The major asset allocation classes presented in the PPD are generated from the specific asset classes that plans report. For consistent reporting in the PPD, the individual asset classes reported by plans are categorized as one of eight major asset classes: equity, fixed income, real estate, private equity, hedge funds, commodities, misc. alternative assets, cash, and other. For more details on the PPD allocation data please see documentation.

Asset Allocation for Milwaukee City ERS, 2022

Category	Percent
Equities	42.0
Fixed Income	20.0
Private Equity	13.0
Real Estate	0.0
Cash	1.0
Other	0.0
Commodities	13.0
Hedge Fund	11.0
Misc. Alternatives	0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2022

Category	Percent
Equities	41.4
Fixed Income	20.6
Private Equity	13.9
Real Estate	10.8
Cash	2.2
Other	0.4
Commodities	2.5
Hedge Fund	6.5
Misc. Alternatives	1.7

Note: The most recent year of data contains virtually all the plans in the PPD.

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Milwaukee City ERS, 2002-2022

Fiscal Year	Equities	Fixed Income	Private Equity	Real Estate	Cash	Commodities	Hedge Fund
2002	63.4	31.8	0.0	4.8	0.0	0.0	0.0
2003	68.6	26.9	0.0	4.5	0.0	0.0	0.0
2004	68.7	27.1	0.0	4.2	0.0	0.0	0.0
2005	67.5	26.7	0.0	5.8	0.0	0.0	0.0
2006	67.6	27.0	0.0	5.4	0.0	0.0	0.0
2007	64.7	27.9	0.0	7.4	0.0	0.0	0.0
2008	57.8	31.9	0.0	10.3	0.0	0.0	0.0
2009	66.2	28.1	0.0	5.7	0.0	0.0	0.0
2010	67.4	26.9	0.1	5.6	0.0	0.0	0.0
2011	62.6	28.7	0.4	8.3	0.0	0.0	0.0
2012	63.4	27.1	1.0	8.5	0.0	0.0	0.0
2013	65.8	25.6	1.4	7.2	0.0	0.0	0.0
2014	58.0	26.8	2.4	7.6	0.0	0.0	5.2
2015	57.2	24.1	3.8	8.4	0.8	0.0	5.7
2016	55.7	20.5	5.0	7.9	0.6	2.2	8.1
2017	56.0	19.6	5.8	6.3	0.2	3.3	8.8
2018	44.7	23.9	8.0	8.3	2.0	3.3	9.9
2019	47.0	23.0	8.0	0.0	1.0	11.0	10.0
2020	46.0	21.0	11.0	0.0	2.0	11.0	9.0
2021	42.6	21.8	12.9	0.0	3.0	12.9	6.9
2022	42.0	20.0	13.0	0.0	1.0	13.0	11.0

Source: Public Plans Database

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Annual Return as of December 31 for Milwaukee City ERS, 2001-2022

Fiscal Year	Milwaukee City ERS	Assumed return
2001	-1.70	8.50
2002	-9.20	8.50
2003	27.70	8.50
2004	12.90	8.50
2005	8.70	8.50
2006	15.40	8.50
2007	7.50	8.50
2008	-30.70	8.50
2009	23.60	8.50
2010	14.20	8.50
2011	-1.10	8.50
2012	14.20	8.50
2013	19.60	8.50
2014	5.40	8.25
2015	0.50	8.25
2016	8.80	8.25
2017	16.40	8.00
2018	-2.90	7.50
2019	18.40	7.50
2020	6.60	7.50
2021	18.90	7.50
2022	-6.50	7.50

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page. he FYE date for the majority of plans is either June 30th or December 31st. hose with FYE dates that do not fall on either of those two dates are compared with the June 30th plans. he PPD average return includes plans that report gross returns and returns net of fees.

Source: Public Plans Database

National data averages are weighted by plan size.

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Annualized 5-Year Return

Milwaukee City ERS	PPD Sample
6.4	7.9

Annualized 10-Year Return

Milwaukee City ERS	PPD Sample
8.1	8.4

Cash Flows

Cash Flow vs. Total Assets (Millions)
Milwaukee City ERS
2001-2022

Fiscal Year	Cash Flow	Assets
2001	-146.2	3,879.5
2002	-161.4	3,356.5
2003	-163.6	4,082.5
2004	-165.1	4,417.9
2005	-179.6	4,606.4
2006	-192.3	5,088.5
2007	-206.4	5,233.3
2008	-217.5	3,402.7
2009	-171.3	4,022.0
2010	-249.3	4,323.5
2011	-245.0	4,010.5
2012	-173.2	4,377.3
2013	-224.8	4,951.1
2014	-236.9	4,953.2
2015	-235.8	4,752.3
2016	-249.4	4,886.7
2017	-278.0	5,396.5
2018	-285.5	4,950.9
2019	-287.1	5,557.1
2020	-316.5	5,649.7
2021	-329.4	6,431.4
2022	-311.0	5,526.0

Source: Public Plans Database

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2022 Cash Flows for Milwaukee City ERS (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
153.8	464.8	-594.4	-905.4

Source: Public Plans Database

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Cash Flow as a Percentage of Assets
Milwaukee City ERS
2001-2022

Fiscal Year	Milwaukee City ERS	National Average
2001	-3.8	-2.3
2002	-4.8	-1.0
2003	-4.0	-2.4
2004	-3.7	-2.6
2005	-3.9	-2.2
2006	-3.8	-2.2
2007	-3.9	-2.2
2008	-6.4	-2.9
2009	-4.3	-3.2
2010	-5.8	-3.2
2011	-6.1	-3.4
2012	-4.0	-3.3
2013	-4.5	-3.1
2014	-4.8	-2.9
2015	-5.0	-3.1
2016	-5.1	-3.2
2017	-5.2	-2.9
2018	-5.8	-3.1
2019	-5.2	-3.1
2020	-5.6	-2.8
2021	-5.1	-2.5
2022	-5.6	-2.9

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Milwaukee City ERS benefit descriptions.

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Plan Data: Milwaukee City ERS

Milwaukee City ERS Basics

Assets, Participants, and Benefits

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2022 Membership for Milwaukee City ERS

Costs

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Actuarial Funding

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Investments

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Annualized 5-Year Return

Annualized 10-Year Return

Cash Flows

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2022 Cash Flows for Milwaukee City ERS (millions)

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2022 Financial Reports

Benefits

Contact information (OPTIONAL)