Milwaukee County ERS Basics

  • Established 1937
  • 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, Milwaukee County ERS, 2001-2018

Fiscal Year Net Assets (billions)
2001 1.5
2002 1.3
2003 1.5
2004 1.6
2005 1.6
2006 1.7
2007 1.7
2008 1.2
2009 1.8
2010 1.9
2011 1.7
2012 1.8
2013 1.9
2014 1.8
2015 1.7
2016 1.7
2017 1.8
2018 1.6

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Milwaukee County ERS US State and Local Pensions
2001 0.9 2.5
2002 0.9 2.4
2003 0.8 2.3
2004 0.7 2.3
2005 0.7 2.2
2006 0.7 2.1
2007 0.7 2.1
2008 0.7 2.1
2009 0.7 2.0
2010 0.6 1.9
2011 0.5 1.7
2012 0.5 1.7
2013 0.5 1.6
2014 0.5 1.5
2015 0.5 1.4
2016 0.4 1.4
2017 0.4 1.3
2018 0.4 1.3

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 Milwaukee County 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 1.1 2.5 5.0 3.6 3.6
2002 1.1 2.5 4.8 3.5 3.5
2003 14.6 0.0 5.7 10.8 10.8
2004 16.8 0.0 7.3 15.8 15.8
2005 15.6 1.0 9.0 16.6 16.6
2006 12.3 11.3 9.3 23.6 23.6
2007 21.7 1.4 10.0 23.0 23.0
2008 14.9 7.8 10.4 22.7 22.7
2009 13.1 0.0 10.2 12.8 12.8
2010 14.1 0.0 10.5 13.3 13.3
2011 16.5 0.0 12.5 15.5 15.5
2012 14.5 0.5 12.9 15.0 15.0
2013 16.4 0.6 13.9 17.0 17.0
2014 15.2 0.3 14.5 15.4 15.4
2015 24.8 4.8 14.9 29.7 29.7
2016 33.7 0.2 14.8 33.9 33.9
2017 34.8 0.0 15.1 34.7 34.7
2018 38.6 0.0 18.1 37.4 37.4

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Milwaukee County ERS, 2001-2018

Fiscal Year Milwaukee County ERS National Data
2001 108.6 106.5
2002 93.8 101.1
2003 84.7 94.2
2004 79.9 93.1
2005 76.2 91.1
2006 79.0 90.5
2007 80.4 91.2
2008 95.7 90.2
2009 93.3 83.2
2010 92.2 81.5
2011 89.2 80.4
2012 87.3 78.9
2013 85.7 78.7
2014 79.8 79.0
2015 78.1 78.2
2016 77.1 76.3
2017 75.4 76.4
2018 75.5 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.

Investments

Asset Allocation for Milwaukee County ERS, 2018

Category Percent
Equities 38.4
Fixed Income 19.7
Private Equity 11.7
Real Estate 11.7
Cash 0.0
Other 0.0
Commodities 9.3
Hedge Fund 9.2
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 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Milwaukee County ERS, 2006-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2006 55.5 34.6 1.5 5.0 0.0 3.5 0.0 0.0 0.0
2007 50.9 42.1 1.6 3.4 0.0 2.1 0.0 0.0 0.0
2008 42.1 51.9 1.6 2.8 0.0 1.7 0.0 0.0 0.0
2009 50.6 41.4 1.5 2.9 0.0 3.6 0.0 0.0 0.0
2010 44.5 26.6 1.4 5.3 0.0 4.4 7.2 10.6 0.0
2011 42.9 24.6 1.7 7.1 0.0 4.7 8.3 10.8 0.0
2012 44.8 26.3 2.9 7.5 0.0 0.0 7.7 10.7 0.0
2013 48.1 21.0 2.8 9.5 0.0 0.0 7.7 11.0 0.0
2014 46.1 19.3 4.3 10.5 0.0 0.0 8.9 10.9 0.0
2015 44.3 17.8 5.6 12.1 0.0 0.0 9.3 10.9 0.0
2016 46.6 16.6 7.6 10.7 0.0 0.0 9.3 9.2 0.0
2017 46.5 14.7 9.1 10.3 0.0 0.0 9.7 9.7 0.0
2018 38.4 19.7 11.7 11.7 0.0 0.0 9.3 9.2 0.0

Source: Public Plans Database


Annual Return as of December 31 for Milwaukee County ERS, 2001-2018

Fiscal Year Milwaukee County ERS Assumed return
2001 -2.08 9.00
2002 -5.40 9.00
2003 25.00 8.50
2004 12.90 8.50
2005 8.30 8.00
2006 13.50 8.00
2007 6.30 8.00
2008 -22.10 8.00
2009 20.40 8.00
2010 12.10 8.00
2011 0.20 8.00
2012 11.00 8.00
2013 15.20 8.00
2014 5.50 8.00
2015 2.40 8.00
2016 6.90 8.00
2017 15.80 7.75
2018 -2.40 7.75

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

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

Fiscal Year Cash Flow Assets
2001 -93.4 1,481.8
2002 -116.6 1,282.9
2003 -78.3 1,493.5
2004 -127.9 1,550.1
2005 -114.7 1,559.8
2006 -105.1 1,658.2
2007 -93.6 1,666.5
2008 -112.8 1,197.8
2009 308.2 1,822.5
2010 -134.0 1,895.2
2011 -160.4 1,742.1
2012 -155.9 1,768.4
2013 -146.5 1,879.2
2014 -153.4 1,822.6
2015 -145.9 1,716.2
2016 -154.8 1,671.7
2017 -138.1 1,786.4
2018 -133.2 1,618.2

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Milwaukee County ERS
2001-2018

Fiscal Year Milwaukee County ERS National Average
2001 -6.3 -2.0
2002 -9.1 -2.7
2003 -5.2 -2.2
2004 -8.2 -1.6
2005 -7.4 -2.0
2006 -6.3 -1.9
2007 -5.6 -2.0
2008 -9.4 -3.0
2009 16.9 -2.6
2010 -7.1 -2.4
2011 -9.2 -2.7
2012 -8.8 -2.6
2013 -7.8 -2.3
2014 -8.4 -2.3
2015 -8.5 -2.7
2016 -9.3 -2.2
2017 -7.7 -2.7
2018 -8.2 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports