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 |