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State Retirement Agency reports improved returns but funding remains below 80%
Summary
DLS briefs the Appropriations Committee that the State Retirement Agency produced a 9.83% total-fund return in FY2025 and closed the year with about $73.6 billion in assets and a funded ratio near 73.5%. Analysts recommended concurrence with the governor’s allowance while noting ongoing funding challenges.
Jacob Cash, DLS analyst, presented the State Retirement Agency (SRA) budget and performance metrics to the Appropriations Committee, noting the FY2027 allowance of $67.1 million (about $3 million above the prior year, driven largely by salaries) and a continued reliance on the pension trust for special-fund financing.
Cash reported that the system’s total fund returned 9.83% for…
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