Figure 1
| Actuarial Metrics | Plan Financial Metrics | Budget Risk Indicators | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| States | Funded ratio, 2019 | Change in funded ratio, 2008-2019 | Employer cost/payroll, 2019 | Operating cash flow ratio, 2019 | Change in OCF ratio since 2014 | Operating cash flow ratio, 2014 | Net amorti-zation, 2019 | Historic contri-bution volatility, 2008-2019 | Assumed return | Normal cost sensitivity |
| Wisconsin | 103% | 3% | 7% | -3.8% |  |
-2.9% | Stable | 3% | 7.00% | Low |
| South Dakota | 100% | 3% | 6% | -2.8% | |
-2.6% | Positive | 1% | 6.50% | Low |
| Tennessee | 98% | 3% | 11% | -2.9% | |
-2.2% | Positive | 2% | 7.25% | Low |
| New York | 96% | -11% | 15% | -3.7% | |
-2.4% | Positive | 13% | 6.83% | High |
| Washington | 96% | -4% | 10% | -0.6% |  |
-2.0% | Positive | 5% | 7.48% | Mid |
| Idaho | 95% | 1% | 11% | -2.1% | |
-1.8% | Positive | 1% | 7.00% | Mid |
| Nebraska | 93% | 2% | 11% | -1.8% | |
-1.0% | Positive | 2% | 7.50% | Mid |
| Utah | 92% | 5% | 23% | -1.6% | |
-1.2% | Positive | 9% | 6.95% | Low |
| North Carolina | 88% | -11% | 11% | -2.6% | |
-3.0% | Positive | 8% | 7.00% | Mid |
| Iowa | 85% | -3% | 10% | -2.9% | |
-2.9% | Stable | 3% | 7.01% | Mid |
| Maine | 84% | 5% | 16% | -2.9% | |
-2.9% | Positive | 4% | 6.88% | Mid |
| Delaware | 83% | -15% | 14% | -3.2% | |
-2.9% | Positive | 7% | 7.00% | High |
| West Virginia | 83% | 20% | 23% | -3.5% | -1.8% | Positive | 7% | 7.50% | High | |
| Minnesota | 82% | 1% | 9% | -3.7% | -4.1% | Stable | 2% | 7.49% | High | |
| Oklahoma | 81% | 20% | 20% | -2.3% | -1.8% | Positive | 3% | 7.38% | Mid | |
| Arkansas | 80% | -7% | 15% | -3.5% | -2.8% | Positive | 1% | 7.40% | High | |
| Ohio | 80% | 3% | 14% | -4.7% | -4.9% | Positive | 4% | 7.32% | High | |
| Oregon | 80% | 0% | 16% | -4.5% | -5.0% | Negative | 11% | 7.20% | Mid | |
| Georgia | 79% | -13% | 22% | -2.8% | -3.9% | Positive | 12% | 7.24% | Mid | |
| Florida | 78% | -23% | 5% | -4.3% | -4.4% | Negative | 3% | 7.00% | High | |
| Missouri | 78% | -5% | 16% | -3.3% | -2.9% | Positive | 4% | 7.38% | High | |
| Virginia | 77% | -6% | 13% | -2.4% | -2.3% | Positive | 10% | 6.75% | Mid | |
| Wyoming | 77% | -3% | 9% | -4.1% | -2.5% | Negative | 4% | 7.00% | High | |
| Nevada | 76% | 0% | 14% | -1.5% | -1.0% | Negative | 12% | 7.50% | Mid | |
| Maryland | 72% | -7% | 17% | -2.2% | -1.8% | Stable | 8% | 7.40% | High | |
| Montana | 72% | -11% | 15% | -3.1% | -1.7% | Stable | 6% | 7.59% | Mid | |
| California | 72% | -15% | 29% | -0.7% | -2.7% | Positive | 22% | 7.10% | High | |
| Kansas | 70% | 11% | 16% | -1.4% | -2.8% | Positive | 10% | 7.75% | Mid | |
| North Dakota | 70% | -17% | 10% | -1.6% | -0.9% | Negative | 5% | 7.73% | High | |
| Alabama | 69% | -8% | 13% | -3.6% | -4.1% | Positive | 4% | 7.70% | High | |
| Indiana | 69% | -4% | 21% | -1.0% | 0.3% | Positive | 8% | 6.75% | Mid | |
| Texas | 69% | -22% | 8% | -3.3% | -3.6% | Negative | 2% | 7.31% | High | |
| Alaska | 67% | -8% | 41% | -4.2% | -2.7% | Negative | 28% | 7.38% | Low | |
| Louisiana | 67% | -3% | 34% | -3.3% | -3.3% | Positive | 16% | 7.53% | High | |
| New Mexico | 67% | -16% | 15% | -3.9% | -3.0% | Negative | 3% | 7.25% | Mid | |
| Colorado | 66% | -3% | 21% | -4.6% | -4.5% | Negative | 9% | 7.25% | Mid | |
| New Hampshire | 66% | -10% | 16% | -1.7% | -1.6% | Positive | 8% | 6.75% | High | |
| Arizona | 65% | -15% | 18% | -1.9% | -2.6% | Positive | 10% | 7.44% | Mid | |
| Vermont | 64% | -24% | 14% | -1.8% | -1.4% | Stable | 9% | 7.50% | High | |
| Mississippi | 62% | -11% | 17% | -4.5% | -3.3% | Negative | 6% | 7.75% | High | |
| Michigan | 61% | -23% | 28% | -4.4% | -5.8% | Positive | 21% | 7.35% | Low | |
| Massachusetts | 59% | -4% | 21% | -2.4% | -3.3% | Negative | 12% | 7.25% | High | |
| Pennsylvania | 58% | -29% | 33% | -2.7% | -6.0% | Positive | 29% | 7.21% | Low | |
| Hawaii | 55% | -14% | 27% | -1.8% | -2.2% | Negative | 14% | 7.00% | High | |
| South Carolina | 55% | -15% | 17% | -2.2% | -3.9% | Negative | 7% | 7.25% | High | |
| Rhode Island | 54% | -7% | 25% | -4.7% | -6.5% | Positive | 6% | 6.99% | Low | |
| Kentucky | 45% | -19% | 44% | -2.6% | -7.0% | Positive | 33% | 6.73% | Mid | |
| Connecticut | 44% | -17% | 36% | -1.4% | -2.8% | Positive | 18% | 6.90% | Low | |
| New Jersey | 40% | -33% | 20% | -4.9% | -6.9% | Negative | 15% | 7.18% | High | |
| Illinois | 39% | -15% | 46% | -2.4% | -1.5% | Negative | 39% | 6.89% | Mid | |
|
Change in funded ratio, 2008-19
increase
decrease
|
Operating cash flow ratio, 2019
-3.5% or more
-3.6% to -5%
less than -5%
|
Assumed return
less than 7%
7% to 7.34%
7.35% or more
|
Note: For detailed definitions of fiscal sustainability matrix terminology and metrics, see Appendix A.
© 2021 The Pew Charitable Trusts