Cincinnati ERS Basics

  • Established 1931
  • Currently open to new hires
  • Plan covers local employees
  • Plan members not covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Cincinnati ERS, 2001-2022

Fiscal Year Net Assets (billions)
2001 1.62
2002 1.35
2003 1.56
2004 1.62
2005 1.64
2006 1.78
2007 1.83
2008 1.24
2009 1.37
2010 1.45
2011 1.35
2012 1.41
2013 1.43
2014 1.58
2015 1.51
2016 1.65
2017 1.74
2018 1.76
2019 1.72
2020 1.58
2021 1.92
2022 1.71

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year Cincinnati ERS US State and Local Pensions
2001 1.0 2.4
2002 0.9 2.3
2003 0.9 2.2
2004 0.8 2.1
2005 0.8 2.1
2006 0.8 2.0
2007 0.7 2.0
2008 0.6 1.9
2009 0.7 1.9
2010 0.7 1.8
2011 0.7 1.7
2012 0.7 1.6
2013 0.7 1.5
2014 0.7 1.4
2015 0.6 1.4
2016 0.7 1.4
2017 0.7 1.4
2018 0.7 1.3
2019 0.7 1.3
2020 0.8 1.3
2021 0.6 1.2
2022 0.6 1.2
2023 0.6 1.2

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 Cincinnati ERS, 2009-2022

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2009 21.8 1.8 14.4 23.5
2010 15.6 9.6 15.5 25.3
2011 17.9 30.3 16.4 48.3
2012 18.9 14.4 18.1 33.3
2013 20.1 9.8 20.3 29.9
2014 23.1 24.7 20.6 47.8
2015 17.7 28.2 20.6 45.9
2016 14.7 24.0 21.5 38.7
2017 15.7 8.1 21.4 23.8
2018 15.6 7.4 22.5 23.1
2019 15.7 8.8 22.6 24.4
2020 15.8 13.3 23.4 29.0
2021 15.8 15.1 23.6 30.9
2022 17.1 13.8 24.1 30.9

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Cincinnati ERS, 2001-2023

Fiscal Year Cincinnati ERS National Data
2001 113.1 101.7
2002 115.4 94.6
2003 102.3 88.8
2004 95.0 87.0
2005 94.7 85.4
2006 93.6 85.2
2007 87.4 86.3
2008 86.2 84.4
2009 71.2 78.4
2010 76.8 75.7
2011 75.1 74.3
2012 66.8 72.3
2013 61.3 71.8
2014 63.2 73.2
2015 64.3 73.2
2016 77.1 71.6
2017 76.9 72.0
2018 75.5 72.4
2019 72.6 72.5
2020 71.2 72.6
2021 70.5 75.8
2022 71.6 76.2
2023 69.3 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Cincinnati ERS, 2022

Category Percent
Equities 46.6
Fixed Income 13.6
Private Equity 12.1
Real Estate 10.2
Cash 1.0
Other 0.0
Commodities 11.7
Hedge Fund 4.7
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

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Cincinnati ERS, 2009-2022

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2009 62.3 17.1 4.2 7.0 0.0 0.0 2.7 6.7 0.0
2010 48.0 22.3 5.7 6.0 0.0 0.0 2.5 15.6 0.0
2011 51.4 16.9 6.3 7.1 0.1 0.0 3.3 14.9 0.0
2012 48.9 15.4 7.5 8.2 0.1 0.0 5.4 14.4 0.0
2013 48.7 15.0 7.2 8.0 0.2 0.0 5.9 15.0 0.0
2014 50.9 14.0 6.6 8.1 0.7 0.0 4.8 14.9 0.0
2015 48.9 15.0 6.5 8.8 0.3 0.0 5.2 15.3 0.0
2016 49.4 16.0 7.2 8.7 0.1 0.0 5.9 12.7 0.0
2017 54.2 16.4 7.3 10.3 1.0 0.0 5.0 5.8 0.0
2018 47.7 17.6 9.0 11.4 0.4 0.0 8.7 5.2 0.0
2019 51.0 17.7 8.0 10.4 0.7 0.0 7.0 5.3 0.0
2020 50.1 18.0 8.5 10.6 0.8 0.0 7.7 4.4 0.0
2021 53.5 18.0 9.4 8.1 0.2 0.0 6.4 4.4 0.0
2022 46.6 13.6 12.1 10.2 1.0 0.0 11.7 4.7 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Cincinnati ERS, 2001-2022

Fiscal Year Cincinnati ERS Assumed return
2001 -4.40 8.75
2002 -11.90 8.75
2003 22.30 8.75
2004 10.20 8.75
2005 6.80 8.75
2006 13.20 8.75
2007 8.10 8.00
2008 -27.90 8.00
2009 20.50 8.00
2010 14.10 8.00
2011 1.10 8.00
2012 12.20 7.50
2013 12.50 7.50
2014 18.50 7.50
2015 2.90 7.50
2016 -0.53 7.50
2017 12.11 7.50
2018 7.83 7.50
2019 4.15 7.50
2020 -1.09 7.50
2021 26.63 7.50
2022 -3.94 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

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

Fiscal Year Cash Flow Assets
2001 -62.2 1,615.2
2002 -68.2 1,352.6
2003 -79.2 1,555.7
2004 -79.8 1,624.0
2005 -84.3 1,642.6
2006 -81.4 1,777.2
2007 -79.2 1,829.3
2008 -100.3 1,242.1
2009 -99.2 1,370.1
2010 -98.3 1,445.2
2011 -104.9 1,353.8
2012 -103.4 1,409.0
2013 -54.0 1,426.9
2014 -107.0 1,578.8
2015 -117.9 1,510.2
2016 -85.3 1,651.4
2017 -120.4 1,740.4
2018 -118.5 1,762.2
2019 -118.2 1,720.2
2020 -123.1 1,576.2
2021 -132.6 1,922.3
2022 -134.9 1,705.8

Source: Public Plans Database

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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
Cincinnati ERS
2001-2022

Fiscal Year Cincinnati ERS National Average
2001 -3.9 -2.0
2002 -5.0 -2.4
2003 -5.1 -2.5
2004 -4.9 -1.8
2005 -5.1 -2.2
2006 -4.6 -2.2
2007 -4.3 -2.0
2008 -8.1 -2.1
2009 -7.2 -3.1
2010 -6.8 -3.2
2011 -7.7 -3.0
2012 -7.3 -3.2
2013 -3.8 -3.1
2014 -6.8 -2.9
2015 -7.8 -2.7
2016 -5.2 -2.9
2017 -6.9 -2.8
2018 -6.7 -2.4
2019 -6.9 -2.4
2020 -7.8 -2.3
2021 -6.9 -2.0
2022 -7.9 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Cincinnati ERS benefit descriptions.