Pennsylvania School Employees Basics

  • Established 1917
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Pennsylvania School Employees, 2001-2023

Fiscal Year Net Assets (billions)
2001 48.10
2002 43.47
2003 42.32
2004 48.34
2005 51.94
2006 57.24
2007 67.34
2008 62.47
2009 43.00
2010 45.60
2011 51.20
2012 48.53
2013 49.02
2014 52.98
2015 51.59
2016 49.83
2017 53.16
2018 56.36
2019 58.73
2020 58.56
2021 71.97
2022 70.53
2023 72.11

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2022

Fiscal Year Pennsylvania School Employees US State and Local Pensions
2001 1.8 2.4
2002 1.7 2.3
2003 1.7 2.2
2004 1.6 2.1
2005 1.6 2.1
2006 1.6 2.0
2007 1.6 2.0
2008 1.6 1.9
2009 1.6 1.9
2010 1.5 1.8
2011 1.4 1.7
2012 1.4 1.6
2013 1.3 1.5
2014 1.2 1.4
2015 1.2 1.4
2016 1.1 1.4
2017 1.1 1.4
2018 1.1 1.3
2019 1.1 1.3
2020 1.1 1.3
2021 1.0 1.2
2022 1.0 1.2

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 Pennsylvania School Employees, 2001-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 1.7 0.0 5.9 1.7
2002 0.0 0.0 5.6 0.0
2003 0.2 0.0 6.3 0.2
2004 3.2 0.0 7.8 3.2
2005 4.1 4.8 9.5 9.0
2006 4.0 7.7 10.5 11.6
2007 5.8 9.1 11.4 15.0
2008 6.4 9.2 11.9 15.5
2009 4.1 10.0 12.1 14.1
2010 4.1 11.0 14.7 15.1
2011 5.1 13.8 16.7 18.9
2012 7.9 12.8 17.7 20.7
2013 11.4 13.4 19.0 24.7
2014 15.8 7.7 19.8 23.5
2015 20.1 5.5 20.3 25.6
2016 24.6 2.8 20.4 27.3
2017 28.7 0.0 20.5 28.7
2018 31.5 0.0 20.9 31.5
2019 32.5 0.0 21.3 32.5
2020 33.3 0.0 20.5 33.3
2021 33.5 0.0 21.5 33.5
2022 33.9 0.0 21.6 33.9
2023 34.2 0.0 23.0 34.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Pennsylvania School Employees, 2001-2022

Fiscal Year Pennsylvania School Employees National Data
2001 114.4 101.7
2002 104.8 94.6
2003 97.2 88.8
2004 91.2 87.0
2005 83.6 85.4
2006 81.2 85.2
2007 85.8 86.3
2008 86.0 84.4
2009 79.2 78.4
2010 75.1 75.7
2011 69.1 74.3
2012 66.3 72.3
2013 63.8 71.8
2014 62.0 73.2
2015 60.5 73.2
2016 57.3 71.6
2017 56.3 72.0
2018 56.4 72.4
2019 58.0 72.5
2020 59.2 72.6
2021 59.6 75.8
2022 61.7 76.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Pennsylvania School Employees, 2023

Category Percent
Equities 26.0
Fixed Income 30.7
Private Equity 17.6
Real Estate 9.9
Cash 0.0
Other 0.0
Commodities 9.1
Hedge Fund 6.8
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Pennsylvania School Employees, 2001-2023

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 60.7 31.5 4.5 3.3 0.0 0.0 0.0 0.0 0.0
2002 56.9 31.2 6.6 5.3 0.0 0.0 0.0 0.0 0.0
2003 62.5 23.1 8.5 5.9 0.0 0.0 0.0 0.0 0.0
2004 61.6 22.1 9.6 6.7 0.0 0.0 0.0 0.0 0.0
2005 61.5 22.0 9.5 7.0 0.0 0.0 0.0 0.0 0.0
2006 62.2 21.9 9.0 7.0 0.0 0.0 0.0 0.0 0.0
2007 60.3 20.5 8.7 8.0 0.0 0.0 2.5 0.0 0.0
2008 51.6 20.8 12.8 9.7 0.0 0.0 5.1 0.0 0.0
2009 32.4 28.6 17.4 9.9 0.0 0.0 4.2 7.5 0.0
2010 28.4 27.2 20.4 9.1 0.0 0.0 3.7 11.2 0.0
2011 26.6 27.0 20.8 10.7 0.0 0.0 4.6 10.3 0.0
2012 23.0 23.2 22.5 12.8 0.0 0.0 4.4 14.1 0.0
2013 19.4 23.7 24.7 14.1 0.0 0.0 3.6 14.5 0.0
2014 19.6 23.6 24.7 14.2 0.0 0.0 4.0 13.9 0.0
2015 24.4 22.7 19.4 12.9 0.0 0.0 4.0 16.6 0.0
2016 19.1 27.8 18.0 10.3 0.0 0.0 7.8 17.0 0.0
2017 18.2 30.4 16.8 10.0 0.0 0.0 8.3 16.5 0.0
2018 17.9 31.5 16.5 8.4 0.0 0.0 8.5 17.1 0.0
2019 14.3 34.5 16.9 8.8 0.0 0.0 9.1 16.4 0.0
2020 14.5 36.0 14.9 8.8 0.0 0.0 9.5 16.3 0.0
2021 22.1 28.3 15.8 8.8 0.0 0.0 17.4 7.6 0.0
2022 20.9 29.6 16.1 9.8 0.0 0.0 17.5 6.0 0.0
2023 26.0 30.7 17.6 9.9 0.0 0.0 9.1 6.8 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Pennsylvania School Employees, 2001-2023

Fiscal Year Pennsylvania School Employees Assumed return
2001 -7.20 8.50
2002 -5.25 8.50
2003 2.74 8.50
2004 19.67 8.50
2005 12.87 8.50
2006 15.26 8.50
2007 22.93 8.50
2008 -2.82 8.25
2009 -26.54 8.00
2010 14.59 8.00
2011 20.37 7.50
2012 3.43 7.50
2013 7.96 7.50
2014 14.91 7.50
2015 3.04 7.50
2016 1.29 7.25
2017 10.14 7.25
2018 9.27 7.25
2019 6.68 7.25
2020 1.11 7.25
2021 24.58 7.25
2022 2.23 7.00
2023 3.54 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)
Pennsylvania School Employees
2001-2023

Fiscal Year Cash Flow Assets
2001 -1,416.8 48,097.0
2002 -2,098.1 43,473.2
2003 -2,177.6 42,316.4
2004 -2,218.7 48,339.6
2005 -2,479.7 51,936.4
2006 -2,636.3 57,235.7
2007 -2,589.0 67,341.0
2008 -3,084.9 62,473.4
2009 -3,276.2 42,995.5
2010 -3,510.7 45,598.5
2011 -3,644.6 51,200.0
2012 -3,759.5 48,533.8
2013 -3,644.2 49,015.6
2014 -3,133.2 52,980.1
2015 -2,681.6 51,585.5
2016 -2,226.7 49,832.1
2017 -1,672.1 53,155.3
2018 -1,425.7 56,363.7
2019 -1,258.5 58,733.9
2020 -1,178.9 58,556.8
2021 -1,344.1 71,967.4
2022 -1,171.9 70,528.2
2023 -1,211.2 72,112.3

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
Pennsylvania School Employees
2001-2023

Fiscal Year Pennsylvania School Employees National Average
2001 -2.9 -2.0
2002 -4.8 -2.4
2003 -5.1 -2.5
2004 -4.6 -1.8
2005 -4.8 -2.2
2006 -4.6 -2.2
2007 -3.8 -2.0
2008 -4.9 -2.1
2009 -7.6 -3.1
2010 -7.7 -3.2
2011 -7.1 -3.0
2012 -7.7 -3.2
2013 -7.4 -3.1
2014 -5.9 -2.9
2015 -5.2 -2.7
2016 -4.5 -2.9
2017 -3.1 -2.8
2018 -2.5 -2.4
2019 -2.1 -2.4
2020 -2.0 -2.3
2021 -1.9 -2.0
2022 -1.7 -1.9
2023 -1.7 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Pennsylvania School Employees benefit descriptions.