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State Retirement Agency budget funds operations; funded ratio falls to 72.9%
Summary
DLS presented the fiscal 2026 allowance for the State Retirement Agency (SRA), which funds administration through employer charges and reports a $64.1 million allowance, a 72.9% funded ratio at end of FY24 and an updated funding timeline to 2039; DLS recommends concurring with the governor’s allowance.
Jacob Cash, the DLS analyst, presented the fiscal 2026 allowance for the State Retirement Agency (SRA): $64.1 million, an increase of $4.6 million from fiscal 2025. Cash said the agency’s administrative budget is funded by charges on employers; the investment division itself is non‑budgeted and accounts for about 40% of the allowance.
Cash reported the retirement system ended fiscal 2024 with…
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