New York City ERS Basics

  • Established 1920
  • Currently open 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, New York City ERS, 2001-2017

Fiscal Year Net Assets (billions)
2001 37.25
2002 32.84
2003 31.52
2004 34.18
2005 35.53
2006 37.29
2007 42.51
2008 39.72
2009 31.90
2010 35.38
2011 42.41
2012 42.66
2013 47.19
2014 54.42
2015 54.89
2016 55.49
2017 61.32

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2017

Fiscal Year New York City ERS US State and Local Pensions
2001 1.2 2.5
2002 1.4 2.4
2003 1.4 2.3
2004 1.4 2.2
2005 1.4 2.1
2006 1.4 2.1
2007 1.4 2.0
2008 1.4 2.0
2009 1.4 1.9
2010 1.4 1.8
2011 1.3 1.7
2012 1.4 1.6
2013 1.3 1.5
2014 1.3 1.5
2015 1.3 1.5
2016 1.3 1.4
2017 1.3 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 New York City ERS, 2001-2017

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 1.2 0.0 5.0 1.2
2002 1.2 0.0 4.8 1.2
2003 1.2 1.0 5.7 2.2
2004 3.4 2.5 7.3 5.9
2005 8.5 2.0 9.0 10.6
2006 10.1 0.0 9.3 10.1
2007 13.7 0.0 10.0 13.7
2008 16.6 0.0 10.4 16.6
2009 18.1 0.0 10.2 18.1
2010 18.2 0.0 10.5 18.2
2011 19.5 0.0 12.5 19.5
2012 24.2 0.0 12.9 24.2
2013 24.5 0.0 13.9 24.5
2014 24.5 0.0 14.5 24.5
2015 24.5 0.0 14.9 24.5
2016 25.5 0.0 14.8 25.5
2017 25.2 0.0 15.1 25.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for New York City ERS, 2001-2017

Fiscal Year New York City ERS National Data
2001 117.4 106.5
2002 112.0 101.1
2003 104.0 94.2
2004 94.5 93.1
2005 88.4 91.1
2006 82.3 90.5
2007 79.0 91.2
2008 79.7 90.2
2009 78.6 83.2
2010 64.2 81.5
2011 65.0 80.4
2012 66.3 78.9
2013 68.4 78.7
2014 70.3 79.0
2015 69.9 78.2
2016 71.4 76.3
2017 72.2 76.4

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 New York City ERS, 2017

Category Percent
Equities 53.7
Fixed Income 31.1
Private Equity 15.1
Real Estate 0.0
Cash 0.0
Other 0.0
Commodities 0.0
Hedge Fund 0.1
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2017

Category Percent
Equities 49.4
Fixed Income 21.8
Private Equity 8.4
Real Estate 8.4
Cash 2.0
Other 0.2
Commodities 1.6
Hedge Fund 7.0
Misc. Alternatives 1.1

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for New York City ERS, 2001-2017

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 64.1 35.7 0.2 0.0 0.0 0.0 0.0 0.0 0.0
2002 65.5 34.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0
2003 67.9 31.5 0.6 0.0 0.0 0.0 0.0 0.0 0.0
2004 69.5 29.7 0.8 0.0 0.0 0.0 0.0 0.0 0.0
2005 71.5 23.4 1.3 0.0 2.8 0.0 0.0 0.0 0.0
2006 71.8 24.9 1.9 0.0 1.4 0.0 0.0 0.0 0.0
2007 70.1 24.2 3.7 0.0 2.0 0.0 0.0 0.0 0.0
2008 64.9 26.7 6.4 0.0 2.0 0.0 0.0 0.0 0.0
2009 59.4 29.5 9.4 0.0 1.6 0.0 0.0 0.0 0.0
2010 59.4 24.8 10.6 0.0 5.1 0.0 0.0 0.0 0.0
2011 58.8 22.6 11.2 0.0 7.3 0.0 0.0 0.0 0.0
2012 54.4 25.6 12.8 0.0 5.3 0.0 0.0 1.8 0.0
2013 55.8 24.9 12.9 0.0 3.4 0.0 0.0 2.9 0.0
2014 57.4 23.0 12.8 0.0 3.8 0.0 0.0 3.0 0.0
2015 53.7 25.7 13.4 0.0 4.4 0.0 0.0 2.8 0.0
2016 50.6 31.3 16.0 0.0 0.0 0.0 0.0 2.1 0.0
2017 53.7 31.1 15.1 0.0 0.0 0.0 0.0 0.1 0.0

Source: Public Plans Database


Annual Return as of June 30 for New York City ERS, 2001-2017

Fiscal Year New York City ERS Assumed return
2001 -8.30 8.00
2002 -8.64 8.00
2003 3.94 8.00
2004 16.30 8.00
2005 9.22 8.00
2006 9.83 8.00
2007 18.39 8.00
2008 -4.96 8.00
2009 -18.18 8.00
2010 14.09 7.00
2011 23.12 7.00
2012 1.32 7.00
2013 12.24 7.00
2014 17.04 7.00
2015 3.11 7.00
2016 1.52 7.00
2017 12.99 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
New York City ERS
2001-2017

Fiscal Year Cash Flow Assets
2001 -2,045.1 37,251.8
2002 -2,128.8 32,842.0
2003 -2,421.8 31,524.7
2004 -2,169.3 34,177.3
2005 -1,762.0 35,526.3
2006 -1,646.8 37,288.2
2007 -1,447.7 42,514.3
2008 -916.9 39,716.8
2009 -781.0 31,903.4
2010 -843.1 35,383.8
2011 -830.9 42,409.1
2012 -337.4 42,655.3
2013 -432.8 47,194.6
2014 -688.3 54,422.0
2015 -711.9 54,889.3
2016 -574.5 55,489.5
2017 -1,158.3 61,316.8

Source: Public Plans Database


Cash Flow as a Percentage of Assets
New York City ERS
2001-2017

Fiscal Year New York City ERS National Average
2001 -5.5 -2.3
2002 -6.5 -2.3
2003 -7.7 -2.6
2004 -6.3 -1.7
2005 -5.0 -1.9
2006 -4.4 -1.9
2007 -3.4 -1.7
2008 -2.3 -1.9
2009 -2.4 -2.7
2010 -2.4 -2.9
2011 -2.0 -2.8
2012 -0.8 -3.1
2013 -0.9 -3.0
2014 -1.3 -2.7
2015 -1.3 -2.8
2016 -1.0 -3.0
2017 -1.9 -2.9

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for New York City ERS benefit descriptions.