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 1.53
2004 1.68
2005 1.79
2006 2.01
2007 2.12
2008 1.48
2009 1.65
2010 1.81
2011 1.75
2012 1.95
2013 2.22
2014 2.32
2015 2.31
2016 2.49
2017 2.85
2018 2.72

Source: Public Plans Database

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Number of Actives per Annuitant, 2003-2018

Fiscal Year Seattle ERS US State and Local Pensions
2003 1.7 2.4
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 1.8
2012 1.5 1.7
2013 1.5 1.6
2014 1.5 1.5
2015 1.4 1.5
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.

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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
2003 8.6 0.0 5.7 8.6
2004 8.2 0.0 7.3 8.2
2005 8.5 0.0 9.0 8.5
2006 8.5 0.0 9.3 8.5
2007 9.2 0.0 10.0 9.2
2008 8.6 0.0 10.4 8.6
2009 7.7 8.7 10.2 16.5
2010 8.9 4.0 10.5 13.0
2011 11.2 0.8 12.5 12.1
2012 13.6 1.2 12.9 14.8
2013 15.0 1.4 13.9 16.5
2014 14.3 0.6 14.5 14.9
2015 15.8 0.0 14.9 15.6
2016 15.3 0.0 14.8 15.0
2017 15.3 0.1 15.1 15.4
2018 15.1 0.0 18.1 15.0

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Seattle ERS, 2003-2018

Fiscal Year Seattle ERS National Data
2003 85.9 94.2
2004 87.4 93.1
2005 88.8 91.1
2006 90.7 90.5
2007 92.4 91.2
2008 76.1 90.2
2009 62.0 83.2
2010 74.3 81.5
2011 68.3 80.4
2012 63.5 78.9
2013 64.2 78.7
2014 66.0 79.0
2015 66.5 78.2
2016 68.1 76.3
2017 69.9 76.4
2018 68.2 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.

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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

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Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.1
Fixed Income 22.5
Private Equity 8.9
Real Estate 8.4
Cash 1.8
Other 0.2
Commodities 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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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

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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.

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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

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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.

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2018 Financial Reports

Benefits

Website for Seattle ERS benefit descriptions.