Philadelphia Municipal Basics

  • Established 1915
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Philadelphia Municipal, 2001-2018

Fiscal Year Net Assets (billions)
2001 4.4
2002 4.0
2003 3.8
2004 4.0
2005 4.1
2006 4.3
2007 4.9
2008 4.4
2009 3.4
2010 3.5
2011 4.0
2012 3.9
2013 4.4
2014 4.9
2015 4.7
2016 4.4
2017 4.9
2018 5.3

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Philadelphia Municipal US State and Local Pensions
2001 0.9 2.5
2002 0.9 2.4
2003 0.8 2.3
2004 0.8 2.2
2005 0.8 2.1
2006 0.8 2.1
2007 0.8 2.0
2008 0.8 2.0
2009 0.8 1.9
2010 0.8 1.8
2011 0.7 1.7
2012 0.7 1.6
2013 0.7 1.5
2014 0.7 1.5
2015 0.8 1.5
2016 0.8 1.4
2017 0.8 1.4
2018 0.8 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 Philadelphia Municipal, 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 14.2 0.0 5.0 14.2 14.2
2002 14.8 0.0 4.8 14.8 14.8
2003 14.2 1.2 5.7 15.4 15.4
2004 16.0 4.0 7.3 20.0 20.0
2005 23.6 4.6 9.0 28.2 28.2
2006 25.1 4.8 9.3 29.9 29.9
2007 32.0 7.1 10.0 39.1 39.1
2008 29.3 7.6 10.4 36.9 36.9
2009 31.1 5.8 10.2 36.9 36.9
2010 22.0 18.9 10.5 40.9 40.9
2011 34.3 17.9 12.5 52.2 52.2
2012 40.5 12.1 12.9 52.7 52.7
2013 54.7 0.0 14.0 51.6 51.6
2014 37.5 0.0 14.4 35.4 35.4
2015 37.4 0.0 14.9 36.0 36.0
2016 40.0 0.0 14.8 36.0 36.0
2017 40.8 0.0 15.1 36.4 36.4
2018 43.4 0.0 15.9 36.7 36.7

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Philadelphia Municipal, 2001-2018

Fiscal Year Philadelphia Municipal National Data
2001 77.5 106.5
2002 72.7 101.1
2003 63.3 94.2
2004 59.8 93.1
2005 53.0 91.1
2006 51.6 90.5
2007 53.9 91.2
2008 55.0 90.2
2009 45.0 83.2
2010 45.4 81.5
2011 47.3 80.4
2012 45.8 78.9
2013 47.4 78.7
2014 45.8 79.0
2015 45.0 78.2
2016 44.8 76.3
2017 45.3 76.4
2018 46.8 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 Philadelphia Municipal, 2018

Category Percent
Equities 55.8
Fixed Income 18.8
Private Equity 8.3
Real Estate 0.0
Cash 1.1
Other 0.0
Commodities 15.2
Hedge Fund 0.7
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 Philadelphia Municipal, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 49.2 35.6 3.9 0.3 0.3 0.0 0.0 10.8 0.0
2002 54.7 31.5 4.3 0.2 0.5 0.0 0.0 8.8 0.0
2003 56.1 29.2 4.6 0.1 0.5 0.0 0.0 9.5 0.0
2004 55.1 27.3 5.6 0.0 0.4 0.0 0.0 11.6 0.0
2005 59.3 20.6 5.9 0.3 2.5 0.0 0.0 11.4 0.0
2006 51.0 22.8 6.9 0.1 0.2 0.0 0.0 19.1 0.0
2007 51.4 24.1 0.0 1.8 0.6 0.0 0.0 15.4 6.7
2008 42.1 30.7 9.0 3.0 0.5 0.0 0.0 5.2 9.4
2009 40.4 32.5 11.6 3.0 1.0 0.0 0.0 11.4 0.0
2010 null null null null null null null null null
2011 41.4 29.4 12.7 3.0 0.5 0.0 0.0 13.1 0.0
2012 34.3 29.2 13.6 4.4 2.4 0.0 1.6 14.5 0.0
2013 45.6 25.4 11.6 0.0 3.5 0.0 6.1 7.8 0.0
2014 45.4 22.2 9.9 0.0 2.6 0.0 8.9 10.9 0.0
2015 45.4 26.7 9.4 0.0 1.3 0.0 7.2 10.1 0.0
2016 48.4 27.2 9.9 0.0 0.4 0.0 7.8 6.4 0.0
2017 56.5 22.2 8.8 0.0 1.2 0.0 9.8 1.4 0.0
2018 55.8 18.8 8.3 0.0 1.1 0.0 15.2 0.7 0.0

Source: Public Plans Database


Annual Return as of June 30 for Philadelphia Municipal, 2001-2018

Fiscal Year Philadelphia Municipal Assumed return
2001 -6.00 9.00
2002 -5.80 9.00
2003 1.80 9.00
2004 16.60 9.00
2005 9.90 8.75
2006 11.30 8.75
2007 17.00 8.75
2008 -4.50 8.75
2009 -19.90 8.25
2010 13.80 8.15
2011 19.40 8.10
2012 0.20 7.95
2013 10.90 7.85
2014 15.70 7.85
2015 0.29 7.75
2016 -3.20 7.70
2017 13.68 7.65
2018 8.83 7.60

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Philadelphia Municipal
2001-2018

Fiscal Year Cash Flow Assets
2001 -249.9 4,440.1
2002 -234.2 3,958.5
2003 -241.6 3,790.8
2004 -414.7 3,973.2
2005 -253.5 4,101.8
2006 -239.5 4,316.6
2007 -185.2 4,899.4
2008 -258.8 4,424.1
2009 -185.0 3,375.8
2010 -328.6 3,501.6
2011 -172.2 4,030.2
2012 -121.9 3,922.8
2013 76.6 4,445.2
2014 -210.0 4,916.7
2015 -256.3 4,674.3
2016 -170.6 4,358.0
2017 -50.5 4,874.1
2018 26.9 5,341.3

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Philadelphia Municipal
2001-2018

Fiscal Year Philadelphia Municipal National Average
2001 -5.6 -2.3
2002 -5.9 -2.3
2003 -6.4 -2.6
2004 -10.4 -1.7
2005 -6.2 -1.9
2006 -5.5 -1.9
2007 -3.8 -1.7
2008 -5.9 -1.9
2009 -5.5 -2.7
2010 -9.4 -2.9
2011 -4.3 -2.8
2012 -3.1 -3.1
2013 1.7 -3.0
2014 -4.3 -2.7
2015 -5.5 -2.8
2016 -3.9 -3.0
2017 -1.0 -2.9
2018 0.5 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Philadelphia Municipal benefit descriptions.