Iowa PERS Basics

  • Established 1953
  • 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, Iowa PERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 15.93
2002 14.87
2003 15.40
2004 17.25
2005 18.77
2006 20.40
2007 23.22
2008 22.37
2009 17.97
2010 19.88
2011 23.08
2012 23.24
2013 24.88
2014 28.04
2015 28.43
2016 28.33
2017 30.78
2018 32.31
2019 34.01

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

Fiscal Year Iowa PERS US State and Local Pensions
2001 2.3 2.5
2002 2.2 2.4
2003 2.1 2.3
2004 2.1 2.2
2005 2.0 2.1
2006 2.0 2.1
2007 1.9 2.0
2008 1.9 2.0
2009 1.9 1.9
2010 1.8 1.8
2011 1.7 1.7
2012 1.6 1.6
2013 1.6 1.5
2014 1.5 1.5
2015 1.5 1.5
2016 1.5 1.4
2017 1.4 1.4
2018 1.4 1.3
2019 1.4 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 Iowa PERS, 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 5.9 0.0 5.0 5.9
2002 5.9 0.0 4.8 5.9
2003 5.9 0.0 5.7 5.9
2004 5.9 0.6 7.3 6.5
2005 5.9 1.0 9.0 6.9
2006 5.9 1.1 9.3 7.0
2007 5.9 1.2 10.0 7.1
2008 6.2 0.9 10.4 7.1
2009 6.5 0.9 10.2 7.3
2010 6.8 0.8 10.5 7.6
2011 7.1 1.5 12.5 8.6
2012 8.2 0.2 12.9 8.4
2013 8.8 0.2 13.9 8.9
2014 9.0 0.0 14.5 9.0
2015 9.0 0.0 14.9 8.8
2016 9.1 0.0 14.8 8.7
2017 9.0 0.0 15.1 8.5
2018 9.0 0.0 18.1 8.6
2019 9.5 0.0 18.8 9.5

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Iowa PERS, 2001-2019

Fiscal Year Iowa PERS National Data
2001 97.2 106.5
2002 92.6 101.1
2003 89.6 94.2
2004 88.6 93.1
2005 88.7 91.1
2006 88.4 90.5
2007 90.2 91.2
2008 89.1 90.2
2009 81.2 83.2
2010 81.4 81.5
2011 79.9 80.4
2012 79.9 78.9
2013 81.0 78.7
2014 82.7 79.0
2015 83.7 78.2
2016 83.9 76.3
2017 81.4 76.4
2018 82.4 76.5
2019 83.7 76.1

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 Iowa PERS, 2019

Category Percent
Equities 39.6
Fixed Income 26.7
Private Equity 13.9
Real Estate 12.9
Cash 1.0
Other 0.0
Commodities 0.0
Hedge Fund 5.9
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Iowa PERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 43.0 38.0 7.0 6.0 1.0 0.0 0.0 5.0 0.0
2002 42.2 40.4 5.7 6.4 0.3 0.0 0.0 5.0 0.0
2003 45.1 37.2 6.1 6.0 0.6 0.0 0.0 5.1 0.0
2004 49.9 37.5 6.1 6.1 0.4 0.0 0.0 0.0 0.0
2005 47.9 38.8 6.3 6.5 0.5 0.0 0.0 0.0 0.0
2006 46.3 37.4 7.6 8.4 0.3 0.0 0.0 0.0 0.0
2007 45.4 37.0 8.4 8.8 0.5 0.0 0.0 0.0 0.0
2008 39.2 39.6 11.2 9.2 0.8 0.0 0.0 0.0 0.0
2009 34.5 40.9 11.6 8.3 1.5 0.0 0.0 3.2 0.0
2010 38.7 38.4 12.7 7.8 1.0 0.0 0.0 1.4 0.0
2011 42.5 36.3 12.3 7.7 1.2 0.0 0.0 0.0 0.0
2012 40.0 37.5 12.4 8.9 1.3 0.0 0.0 0.0 0.0
2013 42.7 30.4 11.5 7.9 1.4 0.0 1.2 4.9 0.0
2014 42.2 31.5 11.0 7.8 0.8 0.0 1.7 5.1 0.0
2015 40.6 32.7 11.4 8.0 0.7 0.0 1.6 5.0 0.0
2016 40.0 32.9 11.6 8.4 0.5 0.0 1.5 5.2 0.0
2017 38.0 28.0 13.0 13.0 4.0 0.0 0.0 4.0 0.0
2018 40.6 27.7 12.9 12.9 1.0 0.0 0.0 5.0 0.0
2019 39.6 26.7 13.9 12.9 1.0 0.0 0.0 5.9 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Iowa PERS, 2001-2019

Fiscal Year Iowa PERS Assumed return
2001 -4.73 7.50
2002 -4.94 7.50
2003 5.59 7.50
2004 13.78 7.50
2005 11.25 7.50
2006 11.11 7.50
2007 16.29 7.50
2008 -1.33 7.50
2009 -16.27 7.50
2010 13.82 7.50
2011 19.91 7.50
2012 3.73 7.50
2013 10.12 7.50
2014 15.88 7.50
2015 3.96 7.50
2016 2.15 7.50
2017 11.70 7.00
2018 7.97 7.00
2019 8.35 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Iowa PERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -222.6 15,928.5
2002 -281.8 14,874.4
2003 -295.0 15,403.2
2004 -330.6 17,249.9
2005 -395.2 18,767.2
2006 -427.9 20,404.9
2007 -486.5 23,217.2
2008 -508.0 22,370.6
2009 -532.8 17,974.0
2010 -573.8 19,878.1
2011 -718.5 23,082.1
2012 -663.1 23,243.5
2013 -703.0 24,878.7
2014 -744.5 28,038.5
2015 -688.8 28,429.8
2016 -728.3 28,326.4
2017 -827.1 30,779.1
2018 -923.3 32,314.6
2019 -943.9 34,010.7

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Iowa PERS
2001-2019

Fiscal Year Iowa PERS National Average
2001 -1.4 -2.3
2002 -1.9 -2.3
2003 -1.9 -2.6
2004 -1.9 -1.7
2005 -2.1 -1.9
2006 -2.1 -1.9
2007 -2.1 -1.7
2008 -2.3 -1.9
2009 -3.0 -2.7
2010 -2.9 -2.9
2011 -3.1 -2.8
2012 -2.9 -3.1
2013 -2.8 -3.0
2014 -2.7 -2.7
2015 -2.4 -2.8
2016 -2.6 -3.0
2017 -2.7 -2.9
2018 -2.9 -2.4
2019 -2.8 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Iowa PERS benefit descriptions.