How do Local Plans fit into the Public Pension Landscape
This fact sheet presents aggregate statistics on local pension plans. While less than 2 percent of local governments manage their own pension plan, those that do are usually major cities and counties. As such, locally-administered pension plans represent a meaningful segment of the overall public pension landscape, amounting to about 13 percent of all state and local pension assets and membership in the United States.
The data below are based on the Census and, where actuarial data is presented, the sample of plans in the PPD. The PPD sample represents two-thirds of total membership and assets in local plans, and 95 percent of membership and assets in state plans.
Membership
Number of Actives per Annuitant, 2001-2023
| Fiscal Year | State Plans | Local Plans |
|---|---|---|
| 2001 | 2.5 | 1.6 |
| 2002 | 2.4 | 1.7 |
| 2003 | 2.3 | 1.7 |
| 2004 | 2.2 | 1.6 |
| 2005 | 1.9 | 1.5 |
| 2006 | 2.1 | 1.5 |
| 2007 | 2.0 | 1.4 |
| 2008 | 2.0 | 1.4 |
| 2009 | 1.9 | 1.4 |
| 2010 | 1.8 | 1.4 |
| 2011 | 1.8 | 1.3 |
| 2012 | 1.7 | 1.2 |
| 2013 | 1.6 | 1.3 |
| 2014 | 1.5 | 1.2 |
| 2015 | 1.5 | 1.2 |
| 2016 | 1.5 | 1.2 |
| 2017 | 1.4 | 1.2 |
| 2018 | 1.4 | 1.2 |
| 2019 | 1.3 | 1.1 |
| 2020 | 1.4 | 1.1 |
| 2021 | 1.3 | 1.1 |
| 2022 | 1.3 | 1.0 |
| 2023 | 1.3 | 1.0 |
2023 Membership, in millions
| _ | State Plans | Local Plans |
|---|---|---|
| Actives | 13.2 | 1.7 |
| Beneficiaries | 10.4 | 1.7 |
| Inactive Vested | 7.6 | 0.6 |
| Total Membership | 31.3 | 4.1 |
Costs
Percent of Employer's Annual Required Contribution Paid, 2001-2023
| Fiscal Year | State Plans | Local Plans |
|---|---|---|
| 2001 | 101.2 | 88.0 |
| 2002 | 94.8 | 88.3 |
| 2003 | 89.7 | 85.5 |
| 2004 | 88.0 | 87.6 |
| 2005 | 86.3 | 95.9 |
| 2006 | 85.7 | 95.7 |
| 2007 | 85.9 | 96.7 |
| 2008 | 91.6 | 99.3 |
| 2009 | 85.2 | 93.2 |
| 2010 | 78.8 | 91.0 |
| 2011 | 80.0 | 89.3 |
| 2012 | 79.1 | 90.7 |
| 2013 | 80.5 | 91.0 |
| 2014 | 86.8 | 90.1 |
| 2015 | 92.4 | 92.8 |
| 2016 | 92.5 | 91.6 |
| 2017 | 94.2 | 93.6 |
| 2018 | 93.9 | 97.6 |
| 2019 | 95.2 | 94.3 |
| 2020 | 96.6 | 94.4 |
| 2021 | 96.3 | 97.7 |
| 2022 | 100.6 | 96.7 |
| 2023 | 102.2 | 98.5 |
Employer's Annual Required Contribution as a Percentage of Payroll, 2001-2023
| Fiscal Year | State Plans | Local Plans |
|---|---|---|
| 2001 | 6.6 | 8.6 |
| 2002 | 7.3 | 9.3 |
| 2003 | 10.2 | 12.2 |
| 2004 | 12.7 | 15.8 |
| 2005 | 14.2 | 18.8 |
| 2006 | 15.0 | 18.7 |
| 2007 | 11.5 | 20.4 |
| 2008 | 11.7 | 21.1 |
| 2009 | 11.9 | 22.5 |
| 2010 | 13.3 | 24.0 |
| 2011 | 14.8 | 26.0 |
| 2012 | 15.7 | 28.5 |
| 2013 | 16.8 | 29.9 |
| 2014 | 16.3 | 31.2 |
| 2015 | 15.4 | 29.9 |
| 2016 | 15.5 | 32.2 |
| 2017 | 15.6 | 32.8 |
| 2018 | 17.3 | 33.4 |
| 2019 | 17.2 | 32.4 |
| 2020 | 18.0 | 32.2 |
| 2021 | 18.2 | 31.9 |
| 2022 | 18.6 | 32.0 |
| 2023 | 18.3 | 30.3 |
Actuarial Funding
Actuarial Funded Ratio, 2001-2023
| Fiscal Year | State Plans | Local Plans |
|---|---|---|
| 2001 | 101.7 | 100.8 |
| 2002 | 94.7 | 94.1 |
| 2003 | 88.9 | 88.0 |
| 2004 | 87.6 | 83.3 |
| 2005 | 86.0 | 81.6 |
| 2006 | 86.0 | 80.1 |
| 2007 | 87.1 | 81.0 |
| 2008 | 85.2 | 79.5 |
| 2009 | 78.9 | 75.9 |
| 2010 | 76.7 | 70.4 |
| 2011 | 75.4 | 68.6 |
| 2012 | 73.3 | 66.8 |
| 2013 | 72.7 | 67.2 |
| 2014 | 74.0 | 68.5 |
| 2015 | 73.9 | 68.9 |
| 2016 | 72.2 | 68.9 |
| 2017 | 72.5 | 69.8 |
| 2018 | 72.7 | 71.1 |
| 2019 | 72.6 | 72.8 |
| 2020 | 72.7 | 73.2 |
| 2021 | 75.9 | 76.2 |
| 2022 | 76.3 | 77.0 |
| 2023 | 76.1 | 77.2 |
Cash Flows
Cash Flow as a Percentage of Assets, 2001-2023
| Fiscal Year | State Plans | Local Plans |
|---|---|---|
| 2001 | -1.7 | -2.6 |
| 2002 | -2.1 | -2.9 |
| 2003 | -2.3 | -2.9 |
| 2004 | -1.7 | -2.4 |
| 2005 | -2.1 | -1.9 |
| 2006 | -2.1 | -1.8 |
| 2007 | -1.8 | -1.7 |
| 2008 | -2.0 | -1.7 |
| 2009 | -3.0 | -1.9 |
| 2010 | -3.1 | -2.3 |
| 2011 | -2.9 | -1.9 |
| 2012 | -3.2 | -1.7 |
| 2013 | -3.1 | -1.6 |
| 2014 | -2.7 | -1.6 |
| 2015 | -2.6 | -1.5 |
| 2016 | -2.8 | -1.6 |
| 2017 | -2.8 | -1.6 |
| 2018 | -2.5 | -1.3 |
| 2019 | -2.5 | -1.7 |
| 2020 | -2.3 | -1.7 |
| 2021 | -2.1 | -1.6 |
| 2022 | -1.7 | -1.7 |
| 2023 | -1.8 | -2.0 |