Hawaii ERS Basics

  • Established 1926
  • 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, Hawaii ERS, 2001-2018

Fiscal Year Net Assets (billions)
2001 8.76
2002 7.91
2003 7.69
2004 8.57
2005 9.20
2006 9.93
2007 11.46
2008 10.85
2009 8.82
2010 9.82
2011 11.65
2012 11.29
2013 12.31
2014 14.20
2015 14.51
2016 14.07
2017 15.70
2018 16.60

Source: Public Plans Database

Copy this code into your HTML Editor, Blog Post or CMS.

Number of Actives per Annuitant, 2001-2018

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

Source: Public Plans Database

National data averages are weighted by plan size.

Copy this code into your HTML Editor, Blog Post or CMS.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Hawaii 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
2001 0.3 6.4 5.0 6.7
2002 6.3 0.0 4.8 6.3
2003 6.7 0.0 5.7 6.7
2004 8.2 0.0 7.3 8.2
2005 10.8 0.0 9.0 10.8
2006 13.1 0.0 9.3 13.1
2007 13.0 0.6 10.0 13.6
2008 12.9 0.6 10.4 13.5
2009 14.4 0.0 10.2 13.1
2010 14.1 0.0 10.5 13.8
2011 13.7 1.2 12.5 14.9
2012 14.1 2.7 12.9 16.8
2013 14.9 2.2 13.9 17.1
2014 16.4 1.3 14.5 17.7
2015 17.2 0.0 14.9 17.2
2016 17.8 0.0 14.8 17.8
2017 18.3 0.0 15.1 18.3
2018 19.3 0.0 18.1 19.3

Source: Public Plans Database

National data averages are weighted by plan size.

Copy this code into your HTML Editor, Blog Post or CMS.

Actuarial Funding

Actuarial Funded Ratio for Hawaii ERS, 2001-2018

Fiscal Year Hawaii ERS National Data
2001 90.6 106.5
2002 84.0 101.1
2003 75.9 94.2
2004 71.7 93.1
2005 68.6 91.1
2006 65.0 90.5
2007 67.5 91.2
2008 68.8 90.2
2009 64.6 83.2
2010 61.4 81.5
2011 59.4 80.4
2012 59.2 78.9
2013 60.0 78.7
2014 61.4 79.0
2015 62.2 78.2
2016 54.7 76.3
2017 54.9 76.4
2018 55.2 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.

Copy this code into your HTML Editor, Blog Post or CMS.

Investments

Asset Allocation for Hawaii ERS, 2018

Category Percent
Equities 50.5
Fixed Income 16.4
Private Equity 7.7
Real Estate 5.4
Cash 0.0
Other 0.9
Commodities 5.3
Hedge Fund 13.7
Misc. Alternatives 0.0

Source: Public Plans Database

Copy this code into your HTML Editor, Blog Post or CMS.

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.1
Fixed Income 22.5
Private Equity 8.9
Real Estate 8.4
Cash 1.8
Other 0.2
Commodities 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.

Copy this code into your HTML Editor, Blog Post or CMS.


Asset allocation for Hawaii ERS, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 61.0 29.0 3.0 7.0 0.0 0.0 0.0 0.0 0.0
2002 57.0 32.0 3.0 8.0 0.0 0.0 0.0 0.0 0.0
2003 59.0 30.0 3.0 8.0 0.0 0.0 0.0 0.0 0.0
2004 64.0 26.0 3.0 7.0 0.0 0.0 0.0 0.0 0.0
2005 63.0 26.0 3.0 8.0 0.0 0.0 0.0 0.0 0.0
2006 62.0 25.0 4.0 9.0 0.0 0.0 0.0 0.0 0.0
2007 60.0 26.0 3.0 7.0 0.0 0.0 0.0 0.0 0.0
2008 59.0 29.0 4.0 8.0 0.0 0.0 0.0 0.0 0.0
2009 52.5 34.7 5.0 7.9 0.0 0.0 0.0 0.0 0.0
2010 56.0 32.0 5.0 7.0 0.0 0.0 0.0 0.0 0.0
2011 61.0 23.0 3.0 8.0 0.0 4.0 1.0 0.0 0.0
2012 52.0 26.0 4.0 8.0 0.0 1.0 5.0 4.0 0.0
2013 61.5 17.3 3.8 6.7 0.0 1.9 4.8 3.8 0.0
2014 61.0 17.0 4.0 7.0 0.0 1.0 4.0 6.0 0.0
2015 60.0 18.0 5.0 6.0 0.0 1.0 4.0 6.0 0.0
2016 53.0 21.0 6.0 6.0 0.0 2.0 5.0 7.0 0.0
2017 52.6 16.7 6.6 5.5 0.0 0.9 4.3 13.5 0.0
2018 50.5 16.4 7.7 5.4 0.0 0.9 5.3 13.7 0.0

Source: Public Plans Database

Copy this code into your HTML Editor, Blog Post or CMS.


Annual Return as of June 30 for Hawaii ERS, 2001-2018

Fiscal Year Hawaii ERS Assumed return
2001 -6.68 8.00
2002 -5.52 8.00
2003 2.97 8.00
2004 15.81 8.00
2005 11.30 8.00
2006 11.12 8.00
2007 17.71 8.00
2008 -3.51 8.00
2009 -17.54 8.00
2010 11.96 8.00
2011 21.25 7.75
2012 -0.14 7.75
2013 12.57 7.75
2014 17.77 7.75
2015 4.23 7.65
2016 -0.78 7.00
2017 -0.78 7.00
2018 7.85 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Copy this code into your HTML Editor, Blog Post or CMS.

Cash Flows

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

Fiscal Year Cash Flow Assets
2001 -491.1 8,761.1
2002 -351.6 7,905.5
2003 -364.4 7,687.2
2004 -358.2 8,565.4
2005 -301.2 9,195.9
2006 -251.8 9,932.4
2007 -175.0 11,462.4
2008 -154.6 10,846.8
2009 -94.2 8,815.3
2010 -17.6 9,824.2
2011 -209.9 11,654.4
2012 -303.5 11,293.0
2013 -312.4 12,311.8
2014 -284.3 14,203.0
2015 -254.0 14,505.5
2016 -266.1 14,070.0
2017 -306.2 15,698.3
2018 -325.5 16,598.4

Source: Public Plans Database

Copy this code into your HTML Editor, Blog Post or CMS.


Cash Flow as a Percentage of Assets
Hawaii ERS
2001-2018

Fiscal Year Hawaii ERS National Average
2001 -5.6 -2.3
2002 -4.4 -2.3
2003 -4.7 -2.6
2004 -4.2 -1.7
2005 -3.3 -1.9
2006 -2.5 -1.9
2007 -1.5 -1.7
2008 -1.4 -1.9
2009 -1.1 -2.7
2010 -0.2 -2.9
2011 -1.8 -2.8
2012 -2.7 -3.1
2013 -2.5 -3.0
2014 -2.0 -2.7
2015 -1.8 -2.8
2016 -1.9 -3.0
2017 -2.0 -2.9
2018 -2.0 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

Copy this code into your HTML Editor, Blog Post or CMS.

2019 Financial Reports

Benefits

Website for Hawaii ERS benefit descriptions.