The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2013 at its March 31, 2014 meeting:
ACCOUNTS
| Tier One Member Regular |
8.00% |
| Tier Two Member Regular |
15.62% |
| Individual Account Program |
15.59% |
| Variable |
25.74% |
2013 RESERVING/CREDITING
| Reserve/Account |
Balance Before 2013 Crediting ($ millions) |
Final 2013 Crediting Amount
($ millions) |
Final Ending Reserve Balance ($ millions) |
| Contingency |
$600.2 |
$67.5 |
$667.7 |
| Tier One Member Regular Accounts |
5,467.6 |
437.4 |
5,905.0 |
| Tier One Rate Guarantee |
-0.3 |
416.8 |
416.5 |
| Benefits in Force (BIF) |
20,621.7 |
3,222.2 |
23,843.9 |
| Tier Two Member Regular Accounts |
732.7 |
114.5 |
847.2 |
| Employer |
18,727.5 |
2,926.2 |
21,653.7 |
| OPSRP Pension |
1,407.9 |
218.4 |
1,626.3 |
| UAL Lump-Sum Payment Side Accounts |
5,077.6 |
846.0 |
5,923.6 |
| IAP Accounts |
5,113.9 |
772.5 |
5,886.4 |
| TOTAL |
$57,748.8 |
$9,021.5 |
$66,770.3 |