PERA: funded ratio 67.2%, $8.7 billion unfunded liability; trustees urge caution on benefit changes
PERA executives briefed the committee on pension finances, reporting a funded ratio of 67.2%, an $8.7 billion unfunded liability and urging lawmakers to avoid unfunded benefit increases while contribution phase-ins continue.
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Public Employees Retirement Association (PERA) officials told the committee that the pension fund’s funded ratio stood at 67.2% at the end of fiscal 2024, with an unfunded liability of about $8.7 billion and a multi-decade amortization period.
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