State and local government pension benefits are paid from trust funds to which public employees and their employers contributed while they were working, not from general operating revenues. Trust fund assets are invested and grow over time. The combined value of defined benefit plan assets held by state and local governments as of Q2 2022 decreased to $5.3 trillion, from $5.7 trillion as of Q2 2022 (Federal Reserve Flow of Funds, June 2024). PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.
Assets at Year-End, Marion County Sheriff Retirement Plan, 2001-2023
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State and local employees make up around 10-15 percent of the US workforce. About a quarter of public sector workers are covered by a public pension in lieu of Social Security, including nearly half of all teachers and over two-thirds of firefighters and public safety officers. Public employees live in every city and county in the nation; more than 90 percent retire in the same jurisdiction where they worked. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.
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2022 Membership for Marion County Sheriff Retirement Plan
Actives
Beneficiaries
Total Membership
158
371
532
Source: Public Plans Database
Costs
The Annual Required Contribution (ARC) is the amount needed to finance benefits accrued each year, plus the cost to amortize unfunded liabilities from past years, minus required employee contributions. It is a projection that matches a yearly payment amount to a particular amortization period, taking into consideration an assortment of assumptions adopted by the plan. In practice, all plans do not calculate the ARC in the same manner. Assumptions used to calculate the ARC reflect actual plan experience, including investment return , actuarial cost, salary growth, total payroll growth and mortality, as well as an adopted amortization method. These assumptions and methods will differ from one plan another, so caution should be taken when comparing ARC between plans. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.
Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Marion County Sheriff Retirement Plan, 2001-2023
Fiscal Year
Portion of Employer ARC paid
Portion of Employer ARC left unpaid
US Avg Employer ARC
ARC as a Percent of Payroll
2001
15.3
0.0
14.3
14.3
2002
19.0
0.0
14.9
17.2
2003
21.1
0.0
19.4
19.1
2004
21.0
0.0
20.1
19.3
2005
22.0
0.0
24.8
20.1
2006
20.2
0.0
26.3
17.5
2007
16.5
0.6
27.8
17.1
2008
28.8
1.2
30.0
30.0
2009
31.2
0.0
32.9
30.9
2010
33.3
0.0
33.1
33.3
2011
34.1
0.0
35.0
34.1
2012
37.3
1.1
36.8
38.5
2013
null
null
37.5
null
2014
42.0
0.0
34.9
41.1
2015
44.3
0.0
35.0
42.9
2016
44.5
0.0
35.6
42.8
2017
47.9
0.0
34.1
46.0
2018
47.6
0.0
35.1
45.9
2019
51.6
0.0
35.8
49.2
2020
55.6
0.0
35.0
54.3
2021
64.2
0.0
36.0
54.6
2022
62.3
0.0
36.5
60.3
2023
60.5
0.0
35.7
58.6
Note: The employer's annual required contribution as a percent of payroll is calculated by dividing the dollar amount reported in the schedule of employer contributions by the covered payroll reported in the schedule of funding. The U.S. Average Employer data reflects the average for plans of similar type and social Security coverage to the plan.
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Actuarial Funding
While funded ratios among pension plans vary substantially, in the aggregate, public pension funding levels rose steadily during the 1990s, due largely to strong returns in global equity markets. Since then, sharp market downturns in 2000-02 and 2008-09 negatively affected asset values and increased unfunded pension liabilities and required contributions. A combination of the market downturns, insufficient contributions (for some plans), and increased benefit levels (also for some plans) resulted in a decline in aggregate funding level between 2001 and 2012, and has since remained relatively stable.
Actuarial Funded Ratio for Marion County Sheriff Retirement Plan, 2001-2022
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Investments
The major asset allocation classes presented in the PPD are generated from the specific asset classes that plans report. For consistent reporting in the PPD, the individual asset classes reported by plans are categorized as one of eight major asset classes: equity, fixed income, real estate, private equity, hedge funds, commodities, misc. alternative assets, cash, and other. For more details on the PPD allocation data please see documentation.
Asset Allocation for Marion County Sheriff Retirement Plan, 2023
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Annual Return as of December 31 for Marion County Sheriff Retirement Plan, 2001-2023
Fiscal Year
Marion County Sheriff Retirement Plan
Assumed return
2001
2.92
7.50
2002
-11.22
7.50
2003
19.70
7.50
2004
8.17
7.50
2005
6.53
7.50
2006
9.51
7.50
2007
4.35
7.50
2008
-1.97
7.50
2009
-3.91
7.50
2010
5.20
7.50
2011
4.91
7.50
2012
7.94
7.50
2013
21.39
null
2014
4.70
null
2015
-1.70
null
2016
6.22
6.75
2017
10.87
6.75
2018
-4.81
6.75
2019
16.48
6.75
2020
12.54
6.75
2021
10.60
6.25
2022
-13.40
6.25
2023
14.24
6.25
Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page. he FYE date for the majority of plans is either June 30th or December 31st. hose with FYE dates that do not fall on either of those two dates are compared with the June 30th plans. he PPD average return includes plans that report gross returns and returns net of fees.
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