SERS Resources

Financial Highlights

A brief presentation that covers both the defined benefit plan and the deferred compensation program. Includes changes in net position, contributions, balances, returns, etc.

2019 2018 2017
Comprehensive Annual Financial Reports

A lengthy, detailed report that provides SERS' audited financial statements and a wealth of information about the fund's holdings, asset allocations, returns, investment managers, fees, and other data; published by June 30 of each year.

2019 2018 2017
2016 2015 2014
2013 2012 2011
2010 2009 2008
Actuarial Reports

A thorough analysis prepared each year by SERS' independent actuary that provides detailed data about SERS' current membership, explains assumptions underlying our pension system's calculations, projects future cash flow, and reports our liabilities and funded status.

2019 2018 2017
2016 2015 2014
2013 2012 2011
2010 2009 2008
Benefits Completion Plan Actuarial Reports

A thorough analysis prepared each year by SERS' independent actuary that provides detailed data about the Benefits Completion Plan, which is an IRC section 415(m) plan established by Act 2002-234.

2019 2018 2017
2016 2015 2014
2013 2012 2011
2010 2009 2008
Investigations of Actuarial Experience

An in-depth report prepared every five years by SERS' independent actuary which documents, analyzes, and checks the system's assumptions against the actual patterns of service, compensation, employment, mortality and other factors specific to SERS members during the preceding five years.

2015 - 2019 2011 - 2015 2006 - 2010
Supplemental Budget Information

A preliminary, unaudited report prepared early each year prior to the completion of our annual independent audit and financial statements that provides information on SERS members, investment professionals, and operations as part of the General Assembly's budgeting process.

2020 | Budget Handout 2019 | Budget Handout 2018 | Budget Handout
2017 2016 2015
2014 2013 2012
2011 2010 2009
2008
Stress Testing and Risk Assessment – Defined Benefit Plan

A comprehensive report prepared by SERS' independent actuary in response to Actuarial Standards of Practice (ASOP) No. 51 and Public Pension Management and Asset Investment Review Commission (PPMAIRC) recommendations. The report identifies and assesses major factors that contribute to the risk that the actual future value of benefits paid from the SERS Defined Benefit Plan will differ from the estimated value provided by the annual actuarial valuation and the actuarially determined contributions. This report includes an analysis of “What if?” scenarios to determine the effect on future employer contributions and the availability of assets to pay benefits when due to members. These “What if?” scenarios are referred to as stress tests or scenario tests. The “What if?” scenarios are illustrative and do not represent current expectations of future experience or recommendations for changes in current policies. In each scenario, the effect on the actuarially determined contribution (ADC) and funded ratio are projected over a period of 20 years and compared to the baseline expectations. The report covers a wide range of investment-related, demographic-related and contribution-related risks that could affect the long-term health and stability of the SERS fund.

2020 2019