New Actuarial Valuation Shows Continuing Funding Improvements
In July, KPERS received its latest valuation report (as of December 31, 2019). Results show KPERS' funding continues to be on the right path.
- Investment return: 17.1% net return on the market value of assets for Calendar Year 2019.
- Funded ratio: 70%, up from a low of 56% in 2012.
- Unfunded actuarial liability: $9 billion, down $200 million from last year.
- Contribution rates: All membership groups are at the actuarially-required contribution rate for the first time in decades.
KPERS has been facing a long-term funding shortfall, significantly affected by two recessions and less than the required employer contributions for 25 years.
Projections continue to show the legacy unfunded actuarial liability will extinguish in 2033 as scheduled. It is important to remember that to meet this projection, long-term investment returns are crucial. Continued funding improvement hinges on meeting our investment target over time and consistent funding with increasing employer contributions to match actuarial funding requirements.
KPERS 2019 Actuarial Valuation Report Actuarial Valuation Report Presentation Slides
Kansas Public Employees Retirement System
611 S. Kansas Ave, Topeka, KS 66603
Toll-free: 1 888 - 275-5737
Email: [email protected]
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