Cincinatti 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, Cincinatti ERS, 2001-2018

Fiscal Year Net Assets (billions)
2001 1.6
2002 1.4
2003 1.6
2004 1.6
2005 1.6
2006 1.8
2007 1.8
2008 1.2
2009 1.4
2010 1.4
2011 1.4
2012 1.4
2013 1.4
2014 1.6
2015 1.5
2016 1.7
2017 1.7
2018 1.8

Source: Public Plans Database

Number of Actives per Annuitant, 2004-2018

Fiscal Year Cincinatti ERS US State and Local Pensions
2004 0.8 2.2
2005 0.8 2.1
2006 0.7 2.0
2007 0.6 2.0
2008 0.7 1.9
2009 0.7 1.8
2010 0.7 1.8
2011 0.7 1.7
2012 0.7 1.6
2013 0.7 1.5
2014 0.6 1.5
2015 0.7 1.4
2016 0.7 1.4
2017 0.7 1.5
2018 0.7 1.5

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 Cincinatti ERS, 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 0.0 0.0 9.5 0.0 0.0
2002 4.7 0.0 10.1 2.1 2.1
2003 5.2 2.9 10.4 8.1 8.1
2004 8.0 8.4 11.1 16.4 16.4
2005 9.1 10.4 12.1 19.5 19.5
2006 14.2 0.0 12.3 13.2 13.2
2007 17.4 3.7 11.6 21.1 21.1
2008 21.8 1.8 10.1 23.5 23.5
2009 15.6 9.6 11.5 25.3 25.3
2010 17.9 30.3 12.8 48.3 48.3
2011 18.9 14.4 13.6 33.3 33.3
2012 20.1 9.8 14.4 29.9 29.9
2013 22.8 18.2 16.6 41.0 41.0
2014 22.9 24.5 16.4 47.5 47.5
2015 16.6 26.6 17.0 43.2 43.2
2016 14.8 24.1 17.0 39.0 39.0
2017 16.1 8.2 14.3 24.3 24.3
2018 15.8 7.5 14.7 23.3 23.3

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Cincinatti ERS, 2001-2018

Fiscal Year Cincinatti ERS National Data
2001 115.4 98.7
2002 102.3 85.4
2003 95.0 83.7
2004 94.7 84.1
2005 93.6 83.5
2006 87.4 86.8
2007 86.2 89.5
2008 71.2 77.0
2009 76.8 73.3
2010 75.1 75.5
2011 66.8 73.4
2012 61.3 74.9
2013 63.2 75.4
2014 64.3 77.4
2015 77.1 79.1
2016 76.9 76.5
2017 75.5 77.6
2018 72.6 75.6

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 Cincinatti ERS, 2018

Category Percent
Equities 47.7
Fixed Income 17.6
Private Equity 9.0
Real Estate 11.4
Cash 0.4
Other 0.0
Commodities 8.7
Hedge Fund 5.2
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 Cincinatti ERS, 2009-2018

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 54.1 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

Source: Public Plans Database


Annual Return as of June 30 for Cincinatti ERS, 2001-2018

Fiscal Year Cincinatti ERS Assumed return
2001 -4.40 8.00
2002 -11.90 8.00
2003 22.30 8.00
2004 10.20 8.00
2005 6.80 8.00
2006 13.20 8.00
2007 8.10 8.00
2008 -27.90 8.00
2009 20.50 8.00
2010 14.10 8.00
2011 1.10 7.50
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

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Cincinatti ERS
2001-2018

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

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Cincinatti ERS
2001-2018

Fiscal Year Cincinatti ERS National Average
2001 -3.9 -0.8
2002 -5.0 -1.0
2003 -5.1 -0.9
2004 -4.9 -0.5
2005 -5.1 -0.5
2006 -4.6 -0.6
2007 -4.3 -0.6
2008 -8.1 -0.8
2009 -7.2 -1.4
2010 -6.8 -1.3
2011 -7.7 -1.6
2012 -7.3 -1.6
2013 -3.8 -2.0
2014 -6.8 -1.8
2015 -7.8 -0.5
2016 -5.2 -2.4
2017 -6.9 -2.3
2018 -6.7 -2.6

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Cincinatti ERS benefit descriptions.