The Washington Department of Retirement Systems administers pension, disability, and defined contribution savings benefits for most public employees in the state, including state employees, employees of higher education, public school teachers, law enforcement officers and fire fighters, and employees of political subdivisions that have elected to participate. The City of Seattle maintains a retirement plan for its employees. More than 1,300 state, local government, school district and higher education employers participate in the DRS, which administers seven retirement systems and 13 plans, including three hybrid plans, a deferred compensation plan, and a dependent care program. DB plan assets are managed by the Washington State Investment Board..
Washington Department of Retirement Systems Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Washington LEOFF Plan 1 |
6,876.1 |
6,180 |
| Washington LEOFF Plan 2 |
20,620.4 |
33,272 |
| Washington PERS Plan 1 |
9,229.3 |
41,924 |
| Washington PERS Plan 2/3 |
62,510.9 |
420,194 |
| Washington PSERS Plan 2 |
1,448.8 |
16,980 |
| Washington School Employees Plan 2/3 |
9,428.6 |
122,574 |
| Washington Teachers Plan 1 |
7,228.2 |
28,845 |
| Washington Teachers Plan 2/3 |
25,065.1 |
131,871 |
| Other Plans |
1,805.7 |
0 |
| Total |
144,213.2 |
650,111 |
Source: Public Plans Database (as of 2023)
Note: Washington Department of Retirement Systems has 0 other plans.
Assets
Assets at Year-End
Washington Department of Retirement Systems
2001-2023
| Fiscal Year |
Net Assets (billions) |
| 2001 |
41.8 |
| 2002 |
37.8 |
| 2003 |
37.1 |
| 2004 |
41.2 |
| 2005 |
44.9 |
| 2006 |
50.7 |
| 2007 |
60.1 |
| 2008 |
58.1 |
| 2009 |
44.2 |
| 2010 |
48.7 |
| 2011 |
57.4 |
| 2012 |
56.8 |
| 2013 |
62.4 |
| 2014 |
72.6 |
| 2015 |
74.5 |
| 2016 |
75.3 |
| 2017 |
84.9 |
| 2018 |
92.4 |
| 2019 |
100.7 |
| 2020 |
104.9 |
| 2021 |
137.3 |
| 2022 |
136.3 |
| 2023 |
144.2 |
Membership
Ratio of Actives to Beneficiaries, 2001-2023
| Fiscal Year |
Washington Department of Retirement Systems |
US State and Local Pensions |
| 2001 |
2.6 |
2.4 |
| 2002 |
2.5 |
2.3 |
| 2003 |
2.5 |
2.2 |
| 2004 |
2.5 |
2.1 |
| 2005 |
2.5 |
2.1 |
| 2006 |
2.4 |
2.0 |
| 2007 |
2.4 |
2.0 |
| 2008 |
2.4 |
1.9 |
| 2009 |
2.3 |
1.9 |
| 2010 |
2.2 |
1.8 |
| 2011 |
2.1 |
1.7 |
| 2012 |
2.0 |
1.6 |
| 2013 |
1.9 |
1.6 |
| 2014 |
1.9 |
1.5 |
| 2015 |
null |
1.5 |
| 2016 |
1.8 |
1.4 |
| 2017 |
1.8 |
1.4 |
| 2018 |
1.7 |
1.4 |
| 2019 |
1.7 |
1.3 |
| 2020 |
1.7 |
1.3 |
| 2021 |
1.6 |
1.2 |
| 2022 |
1.6 |
1.2 |
| 2023 |
1.6 |
1.2 |
2023 Membership for Washington Department of Retirement Systems
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 352,753 |
225,572 |
71,786 |
650,111 |
4,257 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Washington Department of Retirement Systems
2001-2023
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-3,202.4 |
41,769.7 |
| 2002 |
-1,373.7 |
37,763.7 |
| 2003 |
-2,157.4 |
37,073.1 |
| 2004 |
-1,601.5 |
41,243.9 |
| 2005 |
-1,712.2 |
44,906.0 |
| 2006 |
-1,551.6 |
50,744.2 |
| 2007 |
-1,291.7 |
60,116.6 |
| 2008 |
-1,396.1 |
58,062.0 |
| 2009 |
-723.2 |
44,217.9 |
| 2010 |
-1,323.3 |
48,715.4 |
| 2011 |
-1,503.6 |
57,367.2 |
| 2012 |
-1,373.5 |
56,766.6 |
| 2013 |
-1,455.1 |
62,407.9 |
| 2014 |
-1,283.2 |
72,567.2 |
| 2015 |
-1,364.8 |
74,510.4 |
| 2016 |
-996.8 |
75,307.9 |
| 2017 |
-963.5 |
84,885.9 |
| 2018 |
-597.0 |
92,376.8 |
| 2019 |
-593.4 |
100,697.4 |
| 2020 |
-520.2 |
104,872.8 |
| 2021 |
-716.4 |
137,286.6 |
| 2022 |
-1,431.5 |
136,304.1 |
| 2023 |
-1,917.4 |
144,213.2 |
2023 Cash Flows for Washington Department of Retirement Systems (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 4,721.0 |
6,638.4 |
9,826.5 |
7,909.1 |
Cash Flow as a Percentage of Assets
Washington Department of Retirement Systems
2001-2023
| Fiscal Year |
Washington Department of Retirement Systems |
National Average |
| 2001 |
-7.7 |
-2.1 |
| 2002 |
-3.6 |
-2.0 |
| 2003 |
-5.8 |
-2.5 |
| 2004 |
-3.9 |
-2.0 |
| 2005 |
-3.8 |
-2.2 |
| 2006 |
-3.1 |
-2.5 |
| 2007 |
-2.1 |
-2.1 |
| 2008 |
-2.4 |
-2.4 |
| 2009 |
-1.6 |
-3.2 |
| 2010 |
-2.7 |
-3.2 |
| 2011 |
-2.6 |
-3.1 |
| 2012 |
-2.4 |
-3.3 |
| 2013 |
-2.3 |
-3.2 |
| 2014 |
-1.8 |
-2.9 |
| 2015 |
-1.8 |
-2.8 |
| 2016 |
-1.3 |
-3.0 |
| 2017 |
-1.1 |
-2.9 |
| 2018 |
-0.6 |
-2.6 |
| 2019 |
-0.6 |
-2.6 |
| 2020 |
-0.5 |
-2.4 |
| 2021 |
-0.5 |
-2.1 |
| 2022 |
-1.1 |
-2.1 |
| 2023 |
-1.3 |
-2.2 |
