Connecticut SERS Basics

  • Established 1939
  • Currently open to new hires
  • Plan covers state employees
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Connecticut SERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 7.79
2002 7.09
2003 7.00
2004 7.68
2005 8.15
2006 8.77
2007 10.04
2008 9.33
2009 7.32
2010 7.79
2011 8.99
2012 8.47
2013 9.18
2014 10.47
2015 10.67
2016 10.65
2017 11.98
2018 12.53
2019 13.28

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

Fiscal Year Connecticut SERS US State and Local Pensions
2001 1.7 2.5
2002 1.7 2.4
2003 1.3 2.3
2004 1.3 2.2
2005 1.3 2.1
2006 1.4 2.1
2007 1.4 2.0
2008 1.4 2.0
2009 1.3 1.9
2010 1.2 1.8
2011 1.1 1.7
2012 1.1 1.6
2013 1.1 1.5
2014 1.1 1.5
2015 1.1 1.5
2016 1.0 1.4
2017 1.0 1.4
2018 1.0 1.3
2019 1.0 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 Connecticut SERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 13.5 0.0 5.0 12.7
2002 14.6 0.0 4.8 14.6
2003 15.9 0.2 5.7 16.0
2004 16.7 0.1 7.3 16.8
2005 17.4 0.0 9.0 17.3
2006 20.0 0.0 9.3 20.0
2007 20.1 0.0 10.0 20.1
2008 20.3 0.2 10.4 20.5
2009 20.6 1.6 10.2 22.2
2010 21.9 5.4 10.5 27.2
2011 25.7 3.7 12.5 29.4
2012 27.6 0.0 12.9 27.6
2013 33.7 0.0 13.9 33.8
2014 36.4 0.0 14.5 36.4
2015 38.2 0.2 14.9 38.4
2016 40.4 0.3 14.8 40.7
2017 40.0 0.7 15.1 40.7
2018 42.1 0.0 18.1 42.1
2019 42.8 0.0 18.7 42.7

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Connecticut SERS, 2001-2019

Fiscal Year Connecticut SERS National Data
2001 63.1 106.5
2002 61.6 101.1
2003 56.7 94.2
2004 54.5 93.1
2005 53.3 91.1
2006 53.2 90.5
2007 53.6 91.2
2008 51.9 90.2
2009 43.6 83.2
2010 44.4 81.5
2011 47.9 80.4
2012 42.3 78.9
2013 41.2 78.7
2014 41.5 79.0
2015 43.3 78.2
2016 36.9 76.3
2017 38.1 76.4
2018 38.0 76.5
2019 38.2 76.3

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 Connecticut SERS, 2019

Category Percent
Equities 52.4
Fixed Income 24.7
Private Equity 6.9
Real Estate 6.4
Cash 1.6
Other 0.0
Commodities 0.0
Hedge Fund 8.0
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.0
Fixed Income 22.8
Private Equity 9.2
Real Estate 8.8
Cash 1.9
Other 0.0
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Connecticut SERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 50.6 34.4 12.7 2.3 0.0 0.0 0.0 0.0 0.0
2002 47.6 37.7 12.2 2.5 0.0 0.0 0.0 0.0 0.0
2003 47.2 40.4 10.1 2.3 0.0 0.0 0.0 0.0 0.0
2004 58.3 31.0 8.9 1.8 0.0 0.0 0.0 0.0 0.0
2005 59.9 31.4 6.8 1.9 0.0 0.0 0.0 0.0 0.0
2006 62.9 29.4 6.0 1.7 0.0 0.0 0.0 0.0 0.0
2007 61.1 30.3 6.0 2.6 0.0 0.0 0.0 0.0 0.0
2008 57.8 27.5 7.1 4.1 3.5 0.0 0.0 0.0 0.0
2009 56.1 28.3 8.0 3.8 3.8 0.0 0.0 0.0 0.0
2010 55.9 24.9 9.3 3.6 6.3 0.0 0.0 0.0 0.0
2011 59.9 21.7 8.9 4.3 3.1 0.0 0.0 2.1 0.0
2012 57.5 21.4 10.6 5.5 2.7 0.0 0.0 2.3 0.0
2013 55.6 19.5 9.7 5.5 5.2 0.0 0.0 4.5 0.0
2014 56.0 22.5 9.7 4.9 2.7 0.0 0.0 4.2 0.0
2015 52.3 22.8 9.2 5.9 3.9 0.0 0.0 5.9 0.0
2016 49.7 23.7 9.9 7.6 3.2 0.0 0.0 5.9 0.0
2017 52.1 22.0 9.6 6.9 3.4 0.0 0.0 6.0 0.0
2018 51.5 23.8 8.1 6.3 3.8 0.0 0.0 6.5 0.0
2019 52.4 24.7 6.9 6.4 1.6 0.0 0.0 8.0 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Connecticut SERS, 2001-2019

Fiscal Year Connecticut SERS Assumed return
2001 -3.68 null
2002 -6.39 8.50
2003 2.49 8.50
2004 15.23 8.50
2005 10.44 8.50
2006 10.55 8.50
2007 17.34 8.50
2008 -4.83 8.25
2009 -18.25 8.25
2010 12.93 8.25
2011 21.15 8.25
2012 -0.90 8.00
2013 11.90 8.00
2014 15.62 8.00
2015 2.84 8.00
2016 0.26 6.90
2017 14.32 6.90
2018 7.30 6.90
2019 5.70 6.90

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Connecticut SERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -197.8 7,791.1
2002 -189.1 7,093.4
2003 -230.8 6,996.4
2004 -350.5 7,682.5
2005 -319.7 8,149.1
2006 -241.0 8,765.2
2007 -232.9 10,043.4
2008 -235.7 9,331.9
2009 -300.7 7,322.6
2010 -486.3 7,791.3
2011 -430.5 8,985.0
2012 -430.1 8,468.6
2013 -266.8 9,182.6
2014 -157.6 10,472.8
2015 -99.4 10,668.7
2016 -100.1 10,653.8
2017 -181.9 11,981.8
2018 -325.6 12,527.5
2019 33.6 13,275.7

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Connecticut SERS
2001-2019

Fiscal Year Connecticut SERS National Average
2001 -2.5 -2.3
2002 -2.7 -2.3
2003 -3.3 -2.6
2004 -4.6 -1.7
2005 -3.9 -1.9
2006 -2.8 -1.9
2007 -2.3 -1.7
2008 -2.5 -1.9
2009 -4.1 -2.7
2010 -6.2 -2.9
2011 -4.8 -2.8
2012 -5.1 -3.1
2013 -2.9 -3.0
2014 -1.5 -2.7
2015 -0.9 -2.8
2016 -0.9 -3.0
2017 -1.5 -2.9
2018 -2.6 -2.4
2019 0.3 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Connecticut SERS benefit descriptions.