Minneapolis ERF Basics

  • Established 1919
  • Currently closed to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Minneapolis ERF, 2001-2020

Fiscal Year Net Assets (billions)
2001 1.46
2002 1.25
2003 1.19
2004 1.28
2005 1.29
2006 1.31
2007 1.41
2008 1.21
2009 0.85
2010 0.84
2011 0.91
2012 0.84
2013 0.87
2014 0.94

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2020

Fiscal Year Minneapolis ERF US State and Local Pensions
2001 0.2 2.4
2002 0.2 2.3
2003 0.1 2.2
2004 0.1 2.1
2005 0.1 2.1
2006 0.1 2.0
2007 0.1 2.0
2008 0.0 1.9
2009 0.0 1.9
2010 0.0 1.8
2011 0.0 1.7
2012 0.0 1.6
2013 0.0 1.5
2014 0.0 1.5
2015 null 1.4
2016 null 1.4
2017 null 1.4
2018 null 1.3
2019 null 1.3
2020 null 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 Minneapolis ERF, 2001-2020

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 37.6 0.0 5.0 25.4
2002 48.7 0.0 5.1 30.8
2003 99.2 0.0 6.0 36.4
2004 136.6 0.0 7.7 42.4
2005 70.6 0.0 9.5 52.7
2006 207.5 0.0 9.8 64.4
2007 165.0 0.0 10.6 85.7
2008 109.4 67.7 11.0 177.1
2009 142.5 222.1 11.0 364.6
2010 124.4 699.4 11.6 823.8
2011 354.0 175.1 13.3 529.0
2012 939.9 0.0 14.0 515.7
2013 1,269.1 0.0 15.1 765.6
2014 1,460.5 0.0 15.6 770.5
2015 null null 16.1 null
2016 null null 16.1 null
2017 null null 16.4 null
2018 null null 18.8 null
2019 null null 17.9 null
2020 null null 19.7 null

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Minneapolis ERF, 2001-2020

Fiscal Year Minneapolis ERF National Data
2001 93.3 101.8
2002 92.4 95.0
2003 92.3 89.0
2004 92.1 87.3
2005 91.7 85.4
2006 92.1 85.3
2007 85.9 86.3
2008 76.4 84.5
2009 55.9 78.3
2010 65.6 75.8
2011 73.5 74.3
2012 69.1 72.4
2013 74.4 71.9
2014 82.0 73.2
2015 null 73.2
2016 null 71.7
2017 null 72.1
2018 null 72.4
2019 null 72.8
2020 null 73.1

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Minneapolis ERF, 2020

Category Percent
Equities null
Fixed Income null
Private Equity null
Real Estate null
Cash null
Other null
Commodities null
Hedge Fund null
Misc. Alternatives null

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2020

Category Percent
Equities 46.5
Fixed Income 23.7
Private Equity 9.4
Real Estate 8.7
Cash 2.2
Other 0.1
Commodities 1.8
Hedge Fund 6.3
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Minneapolis ERF, 2001-2020

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 46.8 37.1 0.0 3.9 8.1 4.1 0.0 0.0 0.0
2002 48.9 37.2 0.0 4.0 6.9 3.0 0.0 0.0 0.0
2003 46.9 30.7 0.0 4.3 15.6 2.6 0.0 0.0 0.0
2004 49.9 35.8 0.0 4.5 2.7 7.0 0.0 0.0 0.0
2005 55.5 38.3 0.0 5.2 1.1 0.0 0.0 0.0 0.0
2006 47.4 30.4 0.0 4.6 2.0 15.6 0.0 0.0 0.0
2007 48.4 31.5 0.0 3.8 2.6 13.7 0.0 0.0 0.0
2008 49.9 33.6 0.0 4.2 2.5 9.8 0.0 0.0 0.0
2009 55.5 26.0 0.0 0.0 2.8 15.8 0.0 0.0 0.0
2010 57.8 24.9 0.0 0.0 2.0 0.0 0.0 0.0 15.3
2011 60.8 22.2 0.0 0.0 2.4 0.0 0.0 0.0 14.6
2012 60.1 22.3 0.0 0.0 1.9 0.0 0.0 0.0 15.7
2013 60.0 23.0 0.0 0.0 2.5 0.0 0.0 0.0 14.5
2014 61.4 23.4 0.0 0.0 2.6 0.0 0.0 0.0 12.6
2015 null null null null null null null null null
2016 null null null null null null null null null
2017 null null null null null null null null null
2018 null null null null null null null null null
2019 null null null null null null null null null
2020 null null null null null null null null null

Source: Public Plans Database

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Annual Return as of June 30 for Minneapolis ERF, 2001-2020

Fiscal Year Minneapolis ERF Assumed return
2001 -6.30 6.00
2002 -7.30 6.00
2003 2.20 6.00
2004 16.50 6.00
2005 10.40 6.00
2006 10.40 6.00
2007 16.90 6.00
2008 -5.00 6.00
2009 -17.50 6.00
2010 15.20 8.50
2011 23.30 8.50
2012 2.40 8.00
2013 14.20 8.00
2014 18.60 8.00
2015 null null
2016 null null
2017 null null
2018 null null
2019 null null
2020 null null

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Minneapolis ERF
2001-2020

Fiscal Year Cash Flow Assets
2001 -101.5 1,463.7
2002 -111.6 1,250.3
2003 -86.6 1,194.9
2004 -89.7 1,282.7
2005 -119.0 1,288.1
2006 -98.0 1,314.0
2007 -117.7 1,405.7
2008 -133.1 1,211.3
2009 -134.8 853.4
2010 -135.1 844.0
2011 -115.8 911.0
2012 -86.6 842.8
2013 -82.1 868.8
2014 -78.9 935.9

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
Minneapolis ERF
2001-2020

Fiscal Year Minneapolis ERF National Average
2001 -6.9 -2.0
2002 -8.9 -2.4
2003 -7.2 -2.6
2004 -7.0 -1.8
2005 -9.2 -2.2
2006 -7.5 -2.2
2007 -8.4 -2.0
2008 -11.0 -2.2
2009 -15.8 -3.1
2010 -16.0 -3.2
2011 -12.7 -3.0
2012 -10.3 -3.2
2013 -9.5 -3.2
2014 -8.4 -2.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2015 Financial Reports

Benefits

Website for Minneapolis ERF benefit descriptions.