Indiana PERF Basics

  • Established 1945
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, agent plan

Assets, Participants, and Benefits

Assets at Year-End, Indiana PERF, 2001-2019

Fiscal Year Net Assets (billions)
2001 8.4
2002 8.0
2003 8.3
2004 9.6
2005 10.4
2006 11.4
2007 13.3
2008 12.1
2009 9.4
2010 10.6
2011 12.5
2012 12.2
2013 12.7
2014 14.1
2015 13.9
2016 13.9
2017 14.6
2018 12.7
2019 13.3

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Indiana PERF US State and Local Pensions
2001 2.9 2.5
2002 2.8 2.4
2003 2.6 2.3
2004 2.6 2.2
2005 2.5 2.1
2006 2.4 2.1
2007 2.3 2.0
2008 2.2 2.0
2009 2.3 1.9
2010 2.2 1.8
2011 2.1 1.7
2012 2.0 1.6
2013 1.8 1.5
2014 1.8 1.5
2015 1.8 1.5
2016 1.6 1.4
2017 1.6 1.4
2018 1.5 1.3
2019 1.4 1.4

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 Indiana PERF, 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 {role:annotation}
2001 5.4 0.0 5.0 4.7 4.7
2002 5.5 0.0 4.8 4.6 4.6
2003 5.4 0.1 5.7 5.5 5.5
2004 5.6 0.0 7.3 4.0 4.0
2005 4.8 0.0 9.0 4.7 4.7
2006 5.3 0.4 9.3 5.8 5.8
2007 5.9 0.4 10.0 6.3 6.3
2008 6.6 0.0 10.4 6.3 6.3
2009 6.6 0.0 10.2 6.4 6.4
2010 6.8 0.6 10.5 7.4 7.4
2011 7.1 2.9 12.5 10.0 10.0
2012 8.1 2.3 12.9 10.4 10.4
2013 9.6 0.5 14.0 10.0 10.0
2014 10.2 0.2 14.4 10.4 10.4
2015 10.8 0.0 14.9 10.4 10.4
2016 10.9 0.0 14.8 9.8 9.8
2017 10.9 0.0 15.1 9.7 9.7
2018 11.0 0.0 15.9 9.6 9.6
2019 10.9 0.0 16.6 9.9 9.9

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Indiana PERF, 2001-2019

Fiscal Year Indiana PERF National Data
2001 105.0 106.5
2002 99.2 101.1
2003 102.9 94.2
2004 100.1 93.1
2005 96.4 91.1
2006 97.6 90.5
2007 98.2 91.2
2008 97.5 90.2
2009 93.1 83.2
2010 85.2 81.5
2011 80.5 80.4
2012 76.6 78.9
2013 80.2 78.7
2014 82.4 79.0
2015 78.6 78.2
2016 79.1 76.3
2017 79.0 76.4
2018 79.7 76.6
2019 78.9 76.6

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 Indiana PERF, 2019

Category Percent
Equities 21.3
Fixed Income 27.5
Private Equity 12.5
Real Estate 6.0
Cash 2.3
Other 0.0
Commodities 7.6
Hedge Fund 22.8
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 39.9
Fixed Income 21.1
Private Equity 13.1
Real Estate 10.2
Cash 2.1
Other 0.0
Commodities 4.0
Hedge Fund 9.5
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Indiana PERF, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 56.9 43.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 57.9 39.6 0.0 0.0 2.5 0.0 0.0 0.0 0.0
2003 61.1 38.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0
2004 70.5 28.6 0.1 0.0 0.8 0.0 0.0 0.0 0.0
2005 71.2 28.1 0.3 0.0 0.4 0.0 0.0 0.0 0.0
2006 74.0 25.2 0.7 0.0 0.1 0.0 0.0 0.0 0.0
2007 76.2 21.9 0.0 0.0 0.3 0.0 0.0 0.0 1.6
2008 67.3 24.2 0.0 0.0 1.2 0.0 0.0 0.0 7.3
2009 50.5 33.0 0.0 0.0 0.0 0.0 0.0 0.0 16.5
2010 39.7 34.7 0.0 0.0 1.1 0.0 0.0 0.0 24.5
2011 42.6 29.6 0.0 0.0 1.9 0.0 0.0 0.0 25.9
2012 25.2 35.6 13.3 4.7 0.0 0.0 7.9 13.3 0.0
2013 24.2 32.0 13.0 5.3 0.0 0.0 7.3 18.2 0.0
2014 23.6 31.5 12.7 5.4 0.0 0.0 7.8 18.9 0.0
2015 22.4 31.6 12.9 6.2 0.0 0.0 7.5 19.4 0.0
2016 22.3 28.5 13.3 6.6 1.7 0.0 7.4 20.2 0.0
2017 23.6 27.4 12.7 6.5 1.2 0.0 7.9 20.7 0.0
2018 22.1 27.2 12.2 6.1 1.1 0.0 9.0 22.3 0.0
2019 21.3 27.5 12.5 6.0 2.3 0.0 7.6 22.8 0.0

Source: Public Plans Database


Annual Return as of June 30 for Indiana PERF, 2001-2019

Fiscal Year Indiana PERF Assumed return
2001 -2.51 7.25
2002 -4.51 7.25
2003 4.70 7.25
2004 16.30 7.25
2005 9.80 7.25
2006 10.70 7.25
2007 18.20 7.25
2008 -7.60 7.25
2009 -20.60 7.25
2010 13.90 7.00
2011 19.90 7.00
2012 0.70 6.75
2013 6.00 6.75
2014 13.73 6.75
2015 0.00 6.75
2016 1.19 6.75
2017 8.00 6.75
2018 9.30 6.75
2019 7.40 6.75

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Indiana PERF
2001-2019

Fiscal Year Cash Flow Assets
2001 -10.1 8,355.5
2002 -14.8 7,953.0
2003 -23.3 8,273.0
2004 -39.7 9,586.9
2005 -88.2 10,398.7
2006 -127.6 11,366.2
2007 -131.2 13,262.4
2008 -115.7 12,073.5
2009 -116.3 9,442.3
2010 -161.0 10,581.3
2011 -237.4 12,461.4
2012 -217.0 12,243.8
2013 -218.9 12,720.6
2014 -173.2 14,104.3
2015 -244.5 13,907.7
2016 -193.5 13,870.5
2017 -272.9 14,644.7
2018 -314.9 12,694.3
2019 -332.7 13,271.0

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Indiana PERF
2001-2019

Fiscal Year Indiana PERF National Average
2001 -0.1 -2.3
2002 -0.2 -2.3
2003 -0.3 -2.6
2004 -0.4 -1.7
2005 -0.8 -1.9
2006 -1.1 -1.9
2007 -1.0 -1.7
2008 -1.0 -1.9
2009 -1.2 -2.7
2010 -1.5 -2.9
2011 -1.9 -2.8
2012 -1.8 -3.1
2013 -1.7 -3.0
2014 -1.2 -2.7
2015 -1.8 -2.8
2016 -1.4 -3.0
2017 -1.9 -2.9
2018 -2.5 -2.4
2019 -2.5 -2.3

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Indiana PERF benefit descriptions.