Plan Data | Public Plans Data

Des Moines Water Works Basics

Established
Currently closed to new hires
Plan covers local employees
Plan members covered by Social Security
Single employer

Assets, Participants, and Benefits

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 2021 increased to $5.7 trillion, from $4.5 trillion as of Q2 2020 (Federal Reserve Flow of Funds, March 2023). 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, Des Moines Water Works, 2001-2021

Fiscal Year	Net Assets (billions)
2001	null
2002	null
2003	0.03
2004	0.02
2005	0.04
2006	0.04
2007	0.04
2008	0.03
2009	0.03
2010	0.04
2011	0.04
2012	0.04
2013	0.05
2014	0.05
2015	0.05
2016	0.05
2017	0.05
2018	0.05
2019	0.06
2020	0.06
2021	0.06

Source: Public Plans Database

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State and local employees make up 13.8 percent of the US workforce. About 25 percent 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.

Number of Actives per Annuitant, 2001-2021

Fiscal Year	Des Moines Water Works	US State and Local Pensions
2001	68.0	2.4
2002	1.9	2.3
2003	1.9	2.2
2004	1.7	2.1
2005	1.8	2.1
2006	1.6	2.0
2007	1.6	2.0
2008	1.6	1.9
2009	1.4	1.9
2010	1.4	1.8
2011	1.4	1.7
2012	1.3	1.6
2013	1.1	1.5
2014	1.0	1.4
2015	0.9	1.4
2016	0.8	1.4
2017	0.7	1.4
2018	0.7	1.3
2019	0.7	1.3
2020	0.6	1.3
2021	0.5	1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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2021 Membership for Des Moines Water Works

Actives	Beneficiaries	Total Membership
100	197	339

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 Des Moines Water Works, 2001-2013

Fiscal Year	Portion of Employer ARC paid	Portion of Employer ARC left unpaid	US Avg Employer ARC	ARC as a Percent of Payroll
2001	5.3	3.5	5.3	8.8
2002	4.8	2.8	5.3	7.6
2003	7.3	1.9	6.0	9.2
2004	7.5	0.9	7.7	8.4
2005	8.3	0.4	9.6	8.7
2006	8.2	0.0	9.8	8.2
2007	7.5	0.0	10.6	6.1
2008	7.3	0.0	11.0	5.0
2009	8.8	0.0	11.0	8.8
2010	12.5	0.0	11.6	12.5
2011	17.7	0.0	13.4	17.7
2012	22.8	0.0	14.0	22.8
2013	25.5	0.0	15.1	25.5

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.

Source: Public Plans Database

National data averages are weighted by plan size.

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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 Des Moines Water Works, 2001-2021

Fiscal Year	Des Moines Water Works	National Data
2001	null	101.7
2002	null	95.2
2003	null	89.0
2004	null	87.2
2005	null	85.4
2006	null	85.3
2007	107.0	86.3
2008	98.0	84.4
2009	90.0	78.4
2010	81.0	75.7
2011	74.0	74.3
2012	73.0	72.3
2013	85.0	71.9
2014	86.4	73.2
2015	89.0	73.2
2016	87.0	71.6
2017	85.0	72.1
2018	85.0	72.4
2019	86.0	72.5
2020	87.0	72.7
2021	85.0	75.7

Source: Public Plans Database

National data averages are weighted by plan size.

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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 Des Moines Water Works, 2021

Category	Percent
Equities	null
Fixed Income	null
Private Equity	null
Real Estate	null
Cash	null
Other	null
Commodities	null
Hedge Fund	null
Misc. Alternatives	null

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2021

Category	Percent
Equities	47.1
Fixed Income	21.6
Private Equity	11.3
Real Estate	8.0
Cash	2.1
Other	0.6
Commodities	1.9
Hedge Fund	5.8
Misc. Alternatives	1.6

Note: The most recent year of data contains virtually all the plans in the PPD.

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Des Moines Water Works, 2001-2021

Fiscal Year	Equities	Fixed Income	Private Equity	Real Estate	Cash	Other	Commodities	Hedge Fund	Misc. Alternatives
2001	null	null	null	null	null	null	null	null	null
2002	null	null	null	null	null	null	null	null	null
2003	null	null	null	null	null	null	null	null	null
2004	null	null	null	null	null	null	null	null	null
2005	null	null	null	null	null	null	null	null	null
2006	null	null	null	null	null	null	null	null	null
2007	null	null	null	null	null	null	null	null	null
2008	null	null	null	null	null	null	null	null	null
2009	null	null	null	null	null	null	null	null	null
2010	null	null	null	null	null	null	null	null	null
2011	null	null	null	null	null	null	null	null	null
2012	null	null	null	null	null	null	null	null	null
2013	null	null	null	null	null	null	null	null	null
2014	null	null	null	null	null	null	null	null	null
2015	null	null	null	null	null	null	null	null	null
2016	null	null	null	null	null	null	null	null	null
2017	null	null	null	null	null	null	null	null	null
2018	null	null	null	null	null	null	null	null	null
2019	null	null	null	null	null	null	null	null	null
2020	null	null	null	null	null	null	null	null	null
2021	null	null	null	null	null	null	null	null	null

Source: Public Plans Database

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Annual Return as of December 31 for Des Moines Water Works, 2001-2021

Fiscal Year	Des Moines Water Works	Assumed return
2001	null	7.50
2002	null	7.50
2003	7.41	7.50
2004	32.28	7.50
2005	114.79	7.50
2006	13.30	7.50
2007	6.35	7.50
2008	-31.56	7.50
2009	18.98	7.50
2010	13.54	7.50
2011	-0.01	7.25
2012	12.71	6.50
2013	14.70	6.50
2014	5.51	6.50
2015	-1.27	6.50
2016	7.00	6.25
2017	14.40	6.25
2018	-4.87	6.00
2019	17.98	6.00
2020	12.35	5.60
2021	8.29	5.60

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page. The FYE date for the majority of plans is either June 30th or December 31st. Those with FYE dates that do not fall on either of those two dates are compared with the June 30th plans. The PPD average return includes plans that report gross returns and returns net of fees.

Source: Public Plans Database

National data averages are weighted by plan size.

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Annualized 5-Year Return

Des Moines Water Works	PPD Sample
9.3	11.8

Annualized 10-Year Return

Des Moines Water Works	PPD Sample
8.5	10.0

Cash Flows

Cash Flow vs. Total Assets (Millions)
Des Moines Water Works
2001-2021

Fiscal Year	Cash Flow	Assets
2001	null	null
2002	null	null
2003	-0.7	28.8
2004	-0.6	18.0
2005	-0.7	37.7
2006	-0.4	42.3
2007	-0.9	44.0
2008	-1.1	29.2
2009	-1.0	33.7
2010	-0.5	37.7
2011	0.0	37.7
2012	0.5	43.0
2013	0.4	49.8
2014	-1.8	50.7
2015	-1.9	48.1
2016	-2.4	49.0
2017	-2.0	53.9
2018	-2.1	49.3
2019	-1.9	56.1
2020	-1.8	61.1
2021	-2.1	63.9

Source: Public Plans Database

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2021 Cash Flows for Des Moines Water Works (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
1.5	3.6	5.0	2.8

Source: Public Plans Database

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
Des Moines Water Works
2001-2021

Fiscal Year	Des Moines Water Works	National Average
2001	null	-2.2
2002	null	-2.6
2003	-2.4	-2.5
2004	-3.4	-2.6
2005	-1.7	-2.2
2006	-1.0	-2.2
2007	-2.1	-2.3
2008	-3.7	-2.9
2009	-2.9	-3.2
2010	-1.4	-3.2
2011	0.1	-3.4
2012	1.1	-3.3
2013	0.8	-3.1
2014	-3.6	-2.9
2015	-4.0	-3.1
2016	-5.0	-3.2
2017	-3.7	-2.9
2018	-4.2	-3.1
2019	-3.3	-3.1
2020	-3.0	-2.9
2021	-3.4	-2.5

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Source: Public Plans Database

National data averages are weighted by plan size.

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2021 Financial Reports

Benefits

Website for Des Moines Water Works benefit descriptions.

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Plan Data: Des Moines Water Works

Des Moines Water Works Basics

Assets, Participants, and Benefits

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2021 Membership for Des Moines Water Works

Costs

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Actuarial Funding

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Investments

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Annualized 5-Year Return

Annualized 10-Year Return

Cash Flows

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2021 Cash Flows for Des Moines Water Works (millions)

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2021 Financial Reports

Benefits

Contact information (OPTIONAL)