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Public Employees Retirement System

The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2008 at its March 31, 2009 meeting:

 

ACCOUNTS

Tier One Member Regular 8.00%
Tier Two Member Regular -27.18%
Individual Account Program -26.75%
Variable -43.71%

 

2008 RESERVING/CREDITING

Reserve/Account Balance Before 2008 Crediting ($ millions) Final 2008 Crediting Amount
($ millions)
Final Ending Reserve Balance ($ millions)
Contingency $653.2 $0.0 $653.2
Tier One Member Regular Accounts 6,720.5 537.6 7,258.2
Tier One Rate Guarantee 1,889.2 -2,877.6 -988.5
Benefits in Force (BIF) 23,755.7 -6,456.4 17,299.2
Tier Two Member Regular Accounts 766.7 -208.4 558.3
Employer 17,676.6 -4,825.4 12,851.2
OPSRP Pension 376.3 -107.8 268.7
UAL Lump-Sum Payment Side Accounts 7,108.5 -1,973.8 5,134.8
IAP Accounts 2,537.3 -678.8 1,858.5
TOTAL $61,484.2 -$16,590.5 $44,893.7