Georgia ERS Basics

  • Established 1949
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Georgia ERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 12.34
2002 11.56
2003 11.70
2004 12.40
2005 12.83
2006 13.03
2007 14.36
2008 13.17
2009 10.63
2010 10.96
2011 12.34
2012 11.63
2013 12.23
2014 13.29
2015 12.97
2016 12.37
2017 13.10
2018 13.52
2019 13.62

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

Fiscal Year Georgia ERS US State and Local Pensions
2001 2.9 2.5
2002 2.6 2.4
2003 2.6 2.3
2004 2.4 2.2
2005 2.3 2.1
2006 2.3 2.1
2007 2.2 2.0
2008 2.1 2.0
2009 1.9 1.9
2010 1.8 1.8
2011 1.6 1.7
2012 1.5 1.6
2013 1.4 1.5
2014 1.3 1.5
2015 1.3 1.5
2016 1.2 1.4
2017 1.2 1.4
2018 1.2 1.3
2019 1.1 1.3

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 Georgia ERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 13.2 0.0 5.0 13.2
2002 9.7 0.0 4.8 9.7
2003 9.9 0.0 5.7 9.9
2004 10.0 0.0 7.3 10.0
2005 9.7 0.0 9.0 9.7
2006 9.8 0.0 9.3 9.8
2007 10.1 0.0 10.0 10.1
2008 10.2 0.0 10.4 10.2
2009 10.5 0.0 10.2 10.5
2010 10.2 0.0 10.5 10.2
2011 10.5 0.0 12.5 10.5
2012 11.4 0.0 12.9 11.3
2013 15.4 0.0 13.9 15.3
2014 18.6 0.0 14.5 18.5
2015 22.0 0.0 14.9 22.0
2016 25.0 0.0 14.8 25.0
2017 24.6 0.0 15.1 24.5
2018 24.8 0.0 18.1 24.7
2019 24.9 0.0 18.7 24.9

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Georgia ERS, 2001-2019

Fiscal Year Georgia ERS National Data
2001 101.7 106.5
2002 101.1 101.1
2003 100.5 94.2
2004 97.6 93.1
2005 97.2 91.1
2006 94.5 90.5
2007 93.0 91.2
2008 89.4 90.2
2009 85.7 83.2
2010 80.1 81.5
2011 76.0 80.4
2012 73.1 78.9
2013 71.4 78.7
2014 72.8 79.0
2015 74.1 78.2
2016 74.7 76.3
2017 74.7 76.4
2018 75.3 76.5
2019 75.6 76.3

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.

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Investments

Asset Allocation for Georgia ERS, 2019

Category Percent
Equities 61.1
Fixed Income 37.1
Private Equity 1.8
Real Estate 0.0
Cash 0.0
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.0
Fixed Income 22.8
Private Equity 9.2
Real Estate 8.8
Cash 1.9
Other 0.0
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Georgia ERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 57.0 43.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 54.1 45.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 51.5 48.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 58.9 41.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2005 59.6 40.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2006 58.6 41.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2007 59.5 40.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2008 55.6 44.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2009 52.3 47.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2010 59.4 40.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2011 67.2 32.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2012 65.9 34.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2013 68.1 31.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2014 67.2 32.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2015 65.3 34.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2016 62.3 37.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2017 63.9 36.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2018 61.9 36.9 1.2 0.0 0.0 0.0 0.0 0.0 0.0
2019 61.1 37.1 1.8 0.0 0.0 0.0 0.0 0.0 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Georgia ERS, 2001-2019

Fiscal Year Georgia ERS Assumed return
2001 -6.02 7.00
2002 -4.00 7.00
2003 4.50 7.25
2004 9.80 7.50
2005 7.80 7.50
2006 6.20 7.50
2007 14.70 7.50
2008 -3.50 7.50
2009 -13.00 7.50
2010 10.99 7.50
2011 21.29 7.50
2012 2.19 7.50
2013 13.33 7.50
2014 17.29 7.50
2015 3.74 7.50
2016 1.40 7.50
2017 12.40 7.40
2018 9.20 7.30
2019 6.90 7.30

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Georgia ERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -161.9 12,343.6
2002 -296.9 11,558.4
2003 -349.4 11,697.6
2004 -417.1 12,396.4
2005 -501.5 12,825.1
2006 -566.0 13,033.9
2007 -630.9 14,362.4
2008 -712.0 13,167.8
2009 -815.4 10,626.1
2010 -846.5 10,956.3
2011 -890.2 12,335.4
2012 -938.7 11,628.5
2013 -896.5 12,227.8
2014 -860.0 13,291.5
2015 -797.7 12,968.0
2016 -735.7 12,373.6
2017 -750.9 13,098.3
2018 -739.6 13,517.2
2019 -773.1 13,617.5

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Georgia ERS
2001-2019

Fiscal Year Georgia ERS National Average
2001 -1.3 -2.3
2002 -2.6 -2.3
2003 -3.0 -2.6
2004 -3.4 -1.7
2005 -3.9 -1.9
2006 -4.3 -1.9
2007 -4.4 -1.7
2008 -5.4 -1.9
2009 -7.7 -2.7
2010 -7.7 -2.9
2011 -7.2 -2.8
2012 -8.1 -3.1
2013 -7.3 -3.0
2014 -6.5 -2.7
2015 -6.2 -2.8
2016 -5.9 -3.0
2017 -5.7 -2.9
2018 -5.5 -2.4
2019 -5.7 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Georgia ERS benefit descriptions.