IPERS’ FY 2018 funded ratio increases to 82.4%

The $32.26 billion Iowa Public Employees’ Retirement System (IPERS) has reported that its fiscal year 2018 funded ratio has risen to 82.4 percent.

IPERS’ actuary, Cavanaugh Macdonald Consulting in Bellevue, Neb., conducted the valuation. Patrice Beckham, principal and consulting actuary, will present IPERS’ 2018 actuarial valuation findings at the IPERS investment board’s meeting in December.

“Even after lowering the investment return assumption last year from 7.5 percent to 7.0 percent, and updating mortality tables this year, IPERS’ financial health improved,” stated IPERS’ CEO Donna M. Mueller.

For fiscal year 2020 (beginning July 1, 2019), contribution rates for the regular members will remain unchanged while rates for special service members will decrease 0.5 percentage point.

IPERS’ investment portfolio returned nearly 8 percent (7.97 percent, net of fees) for t