SERS 2024 Supplemental Budget Book Released
The budget book provides detailed information about the retirement plans SERS administered in 2023 and proposed budgets for commonwealth fiscal year 2024-25. Key data is provided in a budget handout that includes the budget highlights, snapshots of data for each SERS-administered retirement plan, and the 2023 Pension Payments By County map.
As in years past, the budget book includes investment performance, member demographics, actuarial information, and employer funding projections for the Defined Benefit (pension) Plan, and participant information, and investment options and performance information for both the Defined Contribution Plan and the supplemental, voluntary Deferred Compensation Plan. You’ll also find information on the Hybrid Plan that is the default plan for most state employees hired since 2019, in which a portion of the employee’s retirement benefit comes from the Defined Benefit (pension) Plan and a portion comes from the Defined Contribution (investment) Plan.