Maine Local Basics

  • Established 1942
  • Currently open to new hires
  • Plan covers local employees
  • Plan members not covered by Social Security
  • Multiple employer, agent plan

Assets, Participants, and Benefits

Assets at Year-End, Maine Local, 2001-2019

Fiscal Year Net Assets (billions)
2001 1.46
2002 1.47
2003 1.52
2004 1.73
2005 1.88
2006 1.97
2007 2.24
2008 2.12
2009 1.66
2010 1.78
2011 2.11
2012 2.03
2013 2.19
2014 2.46
2015 2.40
2016 2.36
2017 2.61
2018 2.82
2019 2.95

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

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

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 Maine Local, 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 6.7 0.0 9.5 6.7
2002 64.5 0.0 10.1 3.7
2003 8.1 0.0 10.4 3.1
2004 6.4 0.0 11.1 3.2
2005 3.1 0.0 12.1 3.1
2006 3.2 0.0 12.3 3.2
2007 3.2 0.0 11.6 3.2
2008 3.4 0.0 10.1 3.4
2009 3.0 0.0 11.5 3.0
2010 3.1 0.0 12.8 3.1
2011 4.1 0.0 13.6 4.1
2012 4.7 0.0 14.4 4.6
2013 5.9 0.0 16.7 5.9
2014 7.7 0.0 16.5 7.7
2015 8.2 0.0 17.0 8.2
2016 9.3 0.0 17.0 9.3
2017 9.7 0.0 14.3 9.7
2018 9.9 0.0 14.7 9.9
2019 10.3 0.0 14.8 10.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Maine Local, 2001-2019

Fiscal Year Maine Local National Data
2001 108.2 98.7
2002 122.8 85.4
2003 116.3 83.7
2004 112.1 84.1
2005 114.2 83.5
2006 112.2 86.8
2007 113.6 89.5
2008 112.7 77.0
2009 102.5 73.3
2010 96.3 75.5
2011 93.5 73.4
2012 88.8 74.9
2013 88.4 75.4
2014 91.2 77.4
2015 89.4 79.1
2016 86.1 76.5
2017 86.5 77.6
2018 89.5 75.6
2019 89.6 75.8

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 Maine Local, 2019

Category Percent
Equities 30.8
Fixed Income 16.0
Private Equity 15.0
Real Estate 9.4
Cash 0.5
Other 0.0
Commodities 16.6
Hedge Fund 11.7
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 Maine Local, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 62.5 37.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 61.3 38.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 66.7 33.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 66.0 33.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2005 65.0 34.0 0.0 1.0 0.0 0.0 0.0 0.0 0.0
2006 66.0 31.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0
2007 68.0 27.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0
2008 60.7 33.2 0.0 5.0 0.8 0.0 0.3 0.0 0.0
2009 59.7 28.9 0.0 4.1 0.1 0.0 0.4 6.8 0.0
2010 58.6 29.9 0.1 3.7 1.1 0.0 1.1 5.5 0.0
2011 62.2 27.1 0.5 4.1 0.8 0.0 1.4 3.9 0.0
2012 58.7 29.0 1.1 5.9 0.1 0.0 2.2 3.0 0.0
2013 58.7 25.6 1.9 5.7 0.5 0.0 2.6 5.0 0.0
2014 57.8 23.5 2.9 7.3 0.2 0.0 3.3 5.0 0.0
2015 51.9 23.6 4.9 9.7 0.1 0.0 4.9 4.9 0.0
2016 42.1 24.7 7.6 10.5 0.3 0.0 9.8 4.9 0.0
2017 40.0 23.9 10.9 9.2 0.4 0.0 10.8 4.9 0.0
2018 33.3 19.4 13.2 8.9 0.6 0.0 14.6 10.0 0.0
2019 30.8 16.0 15.0 9.4 0.5 0.0 16.6 11.7 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Maine Local, 2001-2019

Fiscal Year Maine Local Assumed return
2001 -7.80 8.00
2002 -7.50 8.00
2003 5.30 8.00
2004 16.60 8.00
2005 11.80 8.00
2006 7.50 7.75
2007 16.20 7.75
2008 -3.10 7.75
2009 -18.80 7.75
2010 11.10 7.75
2011 22.40 7.25
2012 0.60 7.25
2013 11.10 7.25
2014 16.70 7.25
2015 2.00 7.25
2016 0.60 6.88
2017 12.50 6.88
2018 10.30 6.75
2019 7.30 6.88

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Maine Local
2001-2019

Fiscal Year Cash Flow Assets
2001 -42.0 1,461.9
2002 -44.6 1,466.0
2003 -40.3 1,515.6
2004 -44.2 1,727.7
2005 -43.7 1,883.2
2006 -46.9 1,973.8
2007 -43.8 2,244.1
2008 -54.6 2,120.1
2009 -61.1 1,657.0
2010 -58.8 1,781.2
2011 -61.5 2,105.1
2012 -78.5 2,034.0
2013 -69.0 2,192.6
2014 -63.0 2,455.8
2015 -99.9 2,401.9
2016 -53.7 2,358.4
2017 -51.0 2,607.2
2018 -50.7 2,816.2
2019 -51.6 2,953.2

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Maine Local
2001-2019

Fiscal Year Maine Local National Average
2001 -2.9 -0.8
2002 -3.0 -1.0
2003 -2.7 -0.9
2004 -2.6 -0.5
2005 -2.3 -0.5
2006 -2.4 -0.6
2007 -2.0 -0.6
2008 -2.6 -0.8
2009 -3.7 -1.4
2010 -3.3 -1.3
2011 -2.9 -1.6
2012 -3.9 -1.6
2013 -3.1 -2.0
2014 -2.6 -1.8
2015 -4.2 -0.5
2016 -2.3 -2.4
2017 -2.0 -2.3
2018 -1.8 -2.6
2019 -1.7 -2.6

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Maine Local benefit descriptions.