The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2014 at its March 30, 2015 meeting:
ACCOUNTS
| Tier One Member Regular |
7.75% |
| Tier Two Member Regular |
7.24% |
| Individual Account Program |
7.05% |
| Variable |
4.29% |
2014 RESERVING/CREDITING
| Reserve/Account |
Balance Before 2014 Crediting ($ millions) |
Final 2014 Crediting Amount
($ millions) |
Final Ending Reserve Balance ($ millions) |
| Contingency |
$651.2 |
- |
$651.2 |
| Tier One Member Regular Accounts |
5,189.0 |
402.1 |
5,591.1 |
| Tier One Rate Guarantee |
434.2 |
5.5 |
439.7 |
| Benefits in Force (BIF) |
22,197.9 |
1,609.0 |
23,806.9 |
| Tier Two Member Regular Accounts |
813.0 |
58.9 |
871.9 |
| Employer |
21,563.9 |
1,563.0 |
23,126.9 |
| OPSRP Pension |
1,887.7 |
133.9 |
2,021.6 |
| UAL Lump-Sum Payment Side Accounts |
5,452.1 |
424.8 |
5,876.9 |
| IAP Accounts |
6,107.2 |
422.5 |
6,529.7 |
| TOTAL |
$64,296.2 |
$4,619.7 |
$68,915.9 |