Balancing stability and growth through prudent investment policies, PSERS' assets have grown from $6 billion in 1982 to approximately $72.8 billion as of June 30, 2023. PSERS was created as a defined benefit plan; a qualified trust under Section 401(a) of the Internal Revenue Service Code. PSERS' role expanded upon the passage of Act 5 of 2017 to include oversight of two new hybrid options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan.
To serve the increasingly complex retirement needs of our members, PSERS continues to initiate and to expand its active and retired member programs and to enhance return through a safe yet agile investment policy.
About PSERS gives you the opportunity to learn about the administration of the Fund. Our mission is the driving force of our operations. We invite you to get to know the workings of our Board and staff, the history of the Fund and some interesting facts about our membership. You can also contact us with your retirement questions.
Snapshot
Members | Over 500,000
|
Average Annuity Paid | $26,197 per year |
Total Net Assets | $72.8 billion |
| Funding Sources 25-year totals |
|
Member Contribution Rate | Member contributions range from 7.50% to 10.80% of payroll depending on their class of membership |
Employer Contribution Rate | 33.9% of payroll, beginning July 1, 2024 The FY 2024/2025 rate provides 100% of the actuarially required rate based on sound actuarial practices and principles. |
Number of Employers | 770 |
Funding Status | 63.6% on actuarial basis with an unfunded liability of $42.3 billion |
| Investment Returns PSERS’ fiscal year end; audited, annualized, net of fees | 3.54% 1-year; 9.66% 3-year; 7.30% 5-year; 7.46% 10-year; 6.57% 25-year |
Investment Rate of Return Assumption | 7.00% annual investment return assumption |
| As of June 30, 2023 |
Our Mission, Vision, & Values
Our Mission: To be a partner with our members to fulfill the promise of a secure retirement.
Our Vision: To be a trusted partner in delivering exceptional retirement services and benefits.
Our Values:
Public accountability and transparency. - We are committed to holding ourselves to the highest standards of ethics and accountability and believe that openness and honesty are fundamental to PSERS’ success.
Staff growth and development - We are committed to cultivating a human-centered organizational culture and developing team-member competencies to meet the needs of today and tomorrow.
Exceptional levels of service - We are committed to continuous improvement and exploring innovative ways to increase productivity and enhance the customer experience.
Respect for our members, stakeholders, and staff -We are committed to creating an organizational culture that fosters diversity, equity, and inclusion where everyone receives fair treatment and civility.
Stewardship of resources and investments - We are committed to prudently investing the assets and effectively managing the resources entrusted to our care.