Monday, December 15, 2014

What will the PERS fund look like in 20 years?

The Statesman Journal
November 20th, 2014

The Public Employees Retirement System board will consider the long-term financial projections for the $70 billion PERS fund on Friday, the board's final meeting of 2014.
The Milliman firm's actuaries, Matt Larrabee and Scott Peppernau, have prepared a report that describes what they predict the fund will do over the next 20 years. The projections are used to plan for how much PERS benefits will cost employers in the future and monitor the health of the fund.
Milliman creates a comparable report every year, PERS spokesman David Crosley said. This one paints a positive picture of the future, one in which costs for local governments are likely to drop in the future.
The PERS fund is considered relatively healthy, but the question is always how much local employers will have to contribute. A certain percentage of every government's payroll is paid into the fund. That amount changes over time, and it is generally tied to how much the fund earns. Higher earnings will mean lower costs for employers and vice versa.

No comments:

Post a Comment

To eliminate spam comments at restricted to registered users. Additionally, all posts are moderated to further prevent spam and off topic discourse. We strive to post all on topic comments.