Montgomery County (MD) ERS Basics

  • Established 1965
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Montgomery County (MD) ERS, 2001-2023

Fiscal Year Net Assets (billions)
2001 1.84
2002 null
2003 1.73
2004 1.98
2005 2.14
2006 2.31
2007 2.71
2008 2.62
2009 2.15
2010 2.44
2011 2.90
2012 2.94
2013 3.18
2014 3.65
2015 3.66
2016 3.64
2017 3.93
2018 4.15
2019 4.32
2020 4.33
2021 5.30
2022 4.84
2023 4.78

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year Montgomery County (MD) ERS US State and Local Pensions
2001 1.5 2.4
2002 1.5 2.3
2003 1.3 2.2
2004 1.2 2.1
2005 1.2 2.1
2006 1.1 2.0
2007 1.0 2.0
2008 1.0 1.9
2009 0.9 1.9
2010 1.0 1.8
2011 1.0 1.7
2012 1.0 1.6
2013 0.9 1.5
2014 0.9 1.4
2015 0.9 1.4
2016 0.9 1.4
2017 0.9 1.4
2018 0.9 1.3
2019 0.9 1.3
2020 0.9 1.3
2021 0.9 1.2
2022 0.9 1.2
2023 0.9 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 Montgomery County (MD) ERS, 2006-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2006 25.9 0.0 9.9 25.9
2007 31.0 0.0 10.6 31.0
2008 31.6 0.0 11.0 31.6
2009 29.1 0.0 11.0 29.1
2010 26.4 0.0 11.6 26.4
2011 27.0 0.0 13.4 27.0
2012 27.1 0.0 14.1 27.1
2013 32.3 0.0 15.1 32.3
2014 35.9 0.0 15.7 35.9
2015 36.1 0.0 15.7 36.1
2016 31.5 0.0 15.6 31.5
2017 21.5 0.0 15.5 21.5
2018 19.9 0.0 16.2 19.9
2019 18.2 0.0 16.4 18.2
2020 17.3 0.0 16.8 17.3
2021 14.0 0.0 17.4 14.0
2022 13.3 0.0 18.1 13.3
2023 9.3 0.0 17.4 9.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Montgomery County (MD) ERS, 2001-2023

Fiscal Year Montgomery County (MD) ERS National Data
2001 94.3 101.7
2002 89.6 94.6
2003 84.2 88.8
2004 79.8 87.0
2005 75.7 85.4
2006 76.2 85.2
2007 79.7 86.3
2008 80.8 84.4
2009 78.4 78.4
2010 76.6 75.7
2011 76.6 74.3
2012 76.7 72.3
2013 79.0 71.8
2014 84.0 73.2
2015 89.6 73.2
2016 91.7 71.6
2017 94.4 72.0
2018 95.7 72.4
2019 98.7 72.5
2020 99.2 72.6
2021 103.2 75.8
2022 101.9 76.2
2023 98.6 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Montgomery County (MD) ERS, 2023

Category Percent
Equities 24.5
Fixed Income 28.6
Private Equity 19.9
Real Estate 10.5
Cash 0.0
Other 0.0
Commodities 7.6
Hedge Fund 8.9
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Montgomery County (MD) ERS, 2006-2023

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2006 65.3 31.9 1.9 0.3 0.6 0.0 0.0 0.0 0.0
2007 62.0 32.7 4.1 1.1 0.0 0.1 0.0 0.0 0.0
2008 55.1 36.6 5.5 2.8 0.0 0.0 0.0 0.0 0.0
2009 47.6 38.9 6.4 3.8 0.0 0.0 3.3 0.0 0.0
2010 44.2 37.7 6.9 3.1 0.0 0.0 4.9 3.2 0.0
2011 44.8 35.6 7.3 4.2 0.0 0.0 5.3 2.8 0.0
2012 40.8 38.0 7.8 5.1 0.0 0.0 4.6 3.7 0.0
2013 42.4 34.5 7.5 7.5 0.0 0.0 4.3 3.8 0.0
2014 38.5 34.7 7.1 10.7 0.0 0.0 5.5 3.5 0.0
2015 39.5 35.5 7.1 11.4 0.0 0.0 3.2 3.3 0.0
2016 37.1 36.9 7.8 5.4 0.0 0.0 9.5 3.3 0.0
2017 38.6 35.5 8.6 4.9 0.0 0.0 9.5 2.9 0.0
2018 35.7 35.4 10.0 4.8 0.0 0.0 11.0 3.1 0.0
2019 30.2 37.1 10.2 5.1 0.0 0.0 12.8 4.6 0.0
2020 28.4 35.4 11.9 5.8 0.0 0.0 11.3 7.2 0.0
2021 29.8 30.5 15.3 6.5 0.0 0.0 11.0 6.9 0.0
2022 25.5 31.2 18.0 9.0 0.0 0.0 7.9 8.4 0.0
2023 24.5 28.6 19.9 10.5 0.0 0.0 7.6 8.9 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Montgomery County (MD) ERS, 2001-2023

Fiscal Year Montgomery County (MD) ERS Assumed return
2001 -4.21 null
2002 null null
2003 4.95 null
2004 16.80 null
2005 10.07 null
2006 9.18 8.00
2007 18.79 8.00
2008 -2.26 8.00
2009 -15.81 8.00
2010 14.45 7.50
2011 21.77 7.50
2012 5.30 7.50
2013 10.85 7.50
2014 17.66 7.50
2015 2.82 7.50
2016 1.90 7.50
2017 12.10 7.50
2018 9.10 7.50
2019 8.70 7.50
2020 3.80 7.50
2021 27.00 7.50
2022 -2.90 7.50
2023 4.00 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)
Montgomery County (MD) ERS
2001-2023

Fiscal Year Cash Flow Assets
2001 -26.6 1,837.7
2002 null null
2003 -33.2 1,726.5
2004 -37.8 1,975.6
2005 -28.3 2,144.8
2006 -24.1 2,307.7
2007 -14.3 2,714.3
2008 -13.7 2,618.8
2009 -44.3 2,146.0
2010 -39.0 2,442.7
2011 -55.5 2,897.2
2012 -78.1 2,936.8
2013 -60.4 3,184.2
2014 -65.8 3,652.9
2015 -58.3 3,661.7
2016 -77.7 3,641.6
2017 -121.4 3,933.5
2018 -124.3 4,149.3
2019 -150.6 4,316.6
2020 -156.5 4,333.5
2021 -178.6 5,296.0
2022 -202.5 4,836.3
2023 -239.9 4,778.3

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
Montgomery County (MD) ERS
2001-2023

Fiscal Year Montgomery County (MD) ERS National Average
2001 -1.4 -2.0
2002 null -2.4
2003 -1.9 -2.5
2004 -1.9 -1.8
2005 -1.3 -2.2
2006 -1.0 -2.2
2007 -0.5 -2.0
2008 -0.5 -2.1
2009 -2.1 -3.1
2010 -1.6 -3.2
2011 -1.9 -3.0
2012 -2.7 -3.2
2013 -1.9 -3.1
2014 -1.8 -2.9
2015 -1.6 -2.7
2016 -2.1 -2.9
2017 -3.1 -2.8
2018 -3.0 -2.4
2019 -3.5 -2.4
2020 -3.6 -2.3
2021 -3.4 -2.0
2022 -4.2 -1.9
2023 -5.0 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Montgomery County (MD) ERS benefit descriptions.