Seattle ERS Basics

  • Established 1929
  • 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, Seattle ERS, 2003-2018

Fiscal Year Net Assets (billions)
2003 1.5
2004 1.7
2005 1.8
2006 2.0
2007 2.1
2008 1.5
2009 1.6
2010 1.8
2011 1.8
2012 2.0
2013 2.2
2014 2.3
2015 2.3
2016 2.5
2017 2.9
2018 2.7

Source: Public Plans Database

Number of Actives per Annuitant, 2003-2018

Fiscal Year Seattle ERS US State and Local Pensions
2003 1.7 2.3
2004 1.7 2.3
2005 1.7 2.2
2006 1.7 2.1
2007 1.7 2.1
2008 1.6 2.1
2009 1.7 2.0
2010 1.6 1.9
2011 1.5 1.7
2012 1.5 1.7
2013 1.5 1.6
2014 1.5 1.5
2015 1.4 1.4
2016 1.4 1.4
2017 1.4 1.3
2018 1.4 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 Seattle ERS, 2003-2018

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}
2003 8.2 0.0 5.7 8.2 8.2
2004 8.6 0.0 7.3 8.6 8.6
2005 8.2 0.0 9.0 8.2 8.2
2006 8.5 0.0 9.3 8.5 8.5
2007 8.5 0.0 10.0 8.5 8.5
2008 9.2 0.0 10.4 9.2 9.2
2009 8.6 0.0 10.2 8.6 8.6
2010 7.7 8.7 10.5 16.5 16.5
2011 8.9 4.0 12.5 13.0 13.0
2012 11.2 0.8 12.9 12.1 12.1
2013 13.6 1.2 13.9 14.8 14.8
2014 15.1 0.7 14.5 15.7 15.7
2015 16.0 0.0 14.9 15.9 15.9
2016 16.9 0.0 14.8 16.6 16.6
2017 15.8 0.1 15.1 15.9 15.9
2018 16.1 0.0 18.1 15.9 15.9

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Seattle ERS, 2003-2018

Fiscal Year Seattle ERS National Data
2003 86.6 94.2
2004 85.9 93.1
2005 87.4 91.1
2006 88.8 90.5
2007 90.7 91.2
2008 92.4 90.2
2009 76.1 83.2
2010 62.0 81.5
2011 74.3 80.4
2012 68.3 78.9
2013 63.5 78.7
2014 64.2 79.0
2015 66.0 78.2
2016 66.5 76.3
2017 68.1 76.4
2018 69.9 76.5

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 Seattle ERS, 2018

Category Percent
Equities 51.7
Fixed Income 25.5
Private Equity 8.3
Real Estate 11.4
Cash 0.2
Other 0.0
Commodities 0.0
Hedge Fund 2.0
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 Seattle ERS, 2011-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2011 52.4 20.8 0.0 10.7 3.9 0.0 0.0 0.0 0.0
2012 58.0 20.3 0.0 10.6 0.5 0.0 0.0 0.0 10.6
2013 60.4 21.1 0.0 10.4 0.4 0.0 0.0 0.0 7.7
2014 58.2 21.4 1.7 10.6 2.5 0.3 5.2 0.0 0.0
2015 50.5 25.8 2.5 11.2 5.8 1.7 0.0 2.5 0.0
2016 55.9 26.1 4.4 11.3 0.0 0.0 0.0 2.3 0.0
2017 55.0 26.4 5.3 10.5 0.3 0.0 0.0 1.9 0.0
2018 51.7 25.5 8.3 11.4 0.2 0.0 0.0 2.0 0.0

Source: Public Plans Database


Annual Return as of December 31 for Seattle ERS, 2003-2018

Fiscal Year Seattle ERS Assumed return
2003 23.60 7.75
2004 11.50 7.75
2005 8.10 7.75
2006 13.90 7.75
2007 7.30 7.75
2008 -26.80 7.75
2009 10.80 7.75
2010 13.20 7.75
2011 0.00 7.75
2012 14.00 7.75
2013 15.50 7.75
2014 5.67 7.50
2015 0.26 7.50
2016 8.62 7.50
2017 16.00 7.50
2018 -3.79 7.25

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Seattle ERS
2003-2018

Fiscal Year Cash Flow Assets
2003 -18.2 1,527.5
2004 -14.8 1,684.5
2005 -22.8 1,791.8
2006 -23.7 2,011.2
2007 -30.9 2,119.4
2008 -23.0 1,477.4
2009 -27.0 1,645.3
2010 -41.1 1,812.8
2011 -43.5 1,753.5
2012 -32.8 1,951.4
2013 -24.3 2,216.9
2014 -16.7 2,322.7
2015 -16.8 2,313.0
2016 -14.5 2,488.5
2017 -24.8 2,852.9
2018 -28.9 2,717.4

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Seattle ERS
2003-2018

Fiscal Year Seattle ERS National Average
2003 -1.2 -2.2
2004 -0.9 -1.6
2005 -1.3 -2.0
2006 -1.2 -1.9
2007 -1.5 -2.0
2008 -1.6 -3.0
2009 -1.6 -2.6
2010 -2.3 -2.4
2011 -2.5 -2.7
2012 -1.7 -2.6
2013 -1.1 -2.3
2014 -0.7 -2.3
2015 -0.7 -2.7
2016 -0.6 -2.2
2017 -0.9 -2.7
2018 -1.1 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Seattle ERS benefit descriptions.