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Employees Retirement System says $500 million installment should raise funded ratio toward 80%
Summary
Jim Potvin of the Employees Retirement System of Georgia told the House appropriations subcommittee that a second $500 million state installment and recent investment returns are expected to raise the system's funded ratio from about 72% to roughly the mid‑70s and move the fund closer to the 80% target used to support COLA calculations.
Jim Potvin, executive director of the Employees Retirement System of Georgia, told the House appropriations subcommittee that the state’s planned second $500 million installment to pension funds will directly reduce the system’s unfunded liability and help raise the plan’s funded ratio.
“Each 1 of these $500,000,000 installments reduces directly the funded liability by almost 10%,” Potvin said, adding that…
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