U.S. Pension Tracker

Joe Nation, Ph.D.

Project Director
Stanford Institute for
Economic Policy Research

The Bottom 25% (Lowest quartile) indicates relatively lower unfunded liabilities. The Top 25% (Highest quartile) indicates relatively higher unfunded liabilities. Metrics reflect the Fiscal Year selected. Agencies reported as NA or agencies for which we do not have geographic locations are excluded from calculations. See Glossary for additional information.

Data reflect Fiscal Year (FY) 2015, the most recent available.

California, All State and Local Systems

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Plan : From year: to
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable 2013 2014 2015
Market Liability (thousands) $1,614,739,998 $1,758,401,279 $1,927,103,613
Value of Assets (thousands) $664,135,372 $767,060,186 $733,007,229
Market Pension Debt (thousands) $950,604,626 $991,341,093 $1,194,096,384
Market Discount Rate 3.25% 3.00% 2.75%
Actuarial Liability (thousands) $918,004,792 $966,319,263 $1,026,274,374
Actuarial Pension Debt (thousands) $253,869,420 $199,259,077 $293,267,145
Assumed Rate of Return 7.50% 7.50% 7.48%
  • Variable

    Market Liability (thousands)

    • 2015

      $1,927,103,613

    • 2014

      $1,758,401,279

    • 2013

      $1,614,739,998

    • 2012

      $1,675,948,966

    • 2011

      $1,314,471,606

    • 2010

      $1,300,000,833

    • 2009

      $1,166,281,837

    • 2008

      $1,034,602,716


  • Variable

    Value of Assets (thousands)

    • 2015

      $733,007,229

    • 2014

      $767,060,186

    • 2013

      $664,135,372

    • 2012

      $606,342,011

    • 2011

      $616,950,284

    • 2010

      $514,527,091

    • 2009

      $465,242,054

    • 2008

      $594,300,114


  • Variable

    Market Pension Debt (thousands)

    • 2015

      $1,194,096,384

    • 2014

      $991,341,093

    • 2013

      $950,604,626

    • 2012

      $1,069,606,955

    • 2011

      $697,521,322

    • 2010

      $785,473,742

    • 2009

      $701,039,783

    • 2008

      $440,302,602


  • Variable

    Market Discount Rate

    • 2015

      2.75%

    • 2014

      3.00%

    • 2013

      3.25%

    • 2012

      2.50%

    • 2011

      4.00%

    • 2010

      3.75%

    • 2009

      4.25%

    • 2008

      4.50%


  • Variable

    Actuarial Liability (thousands)

    • 2015

      $1,026,274,374

    • 2014

      $966,319,263

    • 2013

      $918,004,792

    • 2012

      $860,352,462

    • 2011

      $828,066,240

    • 2010

      $777,517,803

    • 2009

      $743,202,474

    • 2008

      $684,439,265


  • Variable

    Actuarial Pension Debt (thousands)

    • 2015

      $293,267,145

    • 2014

      $199,259,077

    • 2013

      $253,869,420

    • 2012

      $254,010,451

    • 2011

      $211,115,956

    • 2010

      $262,990,712

    • 2009

      $277,960,420

    • 2008

      $90,139,151


  • Variable

    Assumed Rate of Return

    • 2015

      7.48%

    • 2014

      7.50%

    • 2013

      7.50%

    • 2012

      7.50%

    • 2011

      7.49%

    • 2010

      7.63%

    • 2009

      7.66%

    • 2008

      7.63%


*Recommended not to combine dollar and other categories.

Funded Ratios

Variable 2013 2014 2015
Market Funded Ratio 41.1% 43.6% 38.0%
Actuarial Funded Ratio 72.4% 79.4% 71.4%
  • Variable

    Market Funded Ratio

    • 2015

      38.0%

    • 2014

      43.6%

    • 2013

      41.1%

    • 2012

      36.2%

    • 2011

      46.9%

    • 2010

      39.6%

    • 2009

      39.9%

    • 2008

      57.4%


  • Variable

    Actuarial Funded Ratio

    • 2015

      71.4%

    • 2014

      79.4%

    • 2013

      72.4%

    • 2012

      70.5%

    • 2011

      74.5%

    • 2010

      66.2%

    • 2009

      62.6%

    • 2008

      86.8%


*Recommended not to combine dollar and other categories.

State Demographics

Variable 2013 2014 2015
Population 38,792,291 39,144,818 39,144,818
Households 12,650,592 12,758,648 12,874,593
  • Variable

    Population

    • 2015

      39,144,818

    • 2014

      39,144,818

    • 2013

      38,792,291

    • 2012

      38,062,780

    • 2011

      37,701,901

    • 2010

      37,336,011

    • 2009

      36,961,229

    • 2008

      36,604,337


  • Variable

    Households

    • 2015

      12,874,593

    • 2014

      12,758,648

    • 2013

      12,650,592

    • 2012

      12,552,658

    • 2011

      12,468,743

    • 2010

      12,406,475

    • 2009

      12,214,891

    • 2008

      12,176,760


*Recommended not to combine dollar and other categories.

Budget & Revenue

Variable 2013 2014 2015
State General Fund Expenditures (thousands) $96,562,000 $100,005,000 $114,473,000
State Total Expenditures (thousands) $211,432,000 $215,393,000 $258,639,000
State Total General Fund Revenues (thousands) $99,402,000 $103,375,000 $111,307,000
  • Variable

    State General Fund Expenditures (thousands)

    • 2015

      $114,473,000

    • 2014

      $100,005,000

    • 2013

      $96,562,000

    • 2012

      $86,405,000

    • 2011

      $91,549,000

    • 2010

      $87,237,000

    • 2009

      $90,940,000

    • 2008

      $102,986,000


  • Variable

    State Total Expenditures (thousands)

    • 2015

      $258,639,000

    • 2014

      $215,393,000

    • 2013

      $211,432,000

    • 2012

      $199,425,000

    • 2011

      $215,745,000

    • 2010

      $206,089,000

    • 2009

      $195,476,000

    • 2008

      $194,276,000


  • Variable

    State Total General Fund Revenues (thousands)

    • 2015

      $111,307,000

    • 2014

      $103,375,000

    • 2013

      $99,402,000

    • 2012

      $86,786,000

    • 2011

      $93,443,000

    • 2010

      $87,046,000

    • 2009

      $82,772,000

    • 2008

      $102,522,000


*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable 2013 2014 2015
Market Pension Debt/Household $75,143 $77,700 $92,748
Market Pension Debt/Capita $24,505 $25,325 $30,505
Market Pension Debt/State General Fund Expenditures 9.84 9.91 10.43  
Market Pension Debt/State Total Expenditures 4.50 4.60 4.62
Market Pension Debt/State Total General Fund Revenues 9.56 9.59 10.73
Actuarial Pension Debt/Household $20,068 $15,618 $22,779
Actuarial Pension Debt/Capita $6,544 $5,090 $7,492
Actuarial Pension Debt/State General Fund Expenditures 2.63 1.99 2.56
Actuarial Pension Debt/State Total Expenditures 1.20 0.93 1.13
Actuarial Pension Debt/State Total General Fund Revenues 2.55 1.93 2.63
  • Variable

    Market Pension Debt/Household

    • 2015

      $92,748

    • 2014

      $77,700

    • 2013

      $75,143

    • 2012

      $85,210

    • 2011

      $55,942

    • 2010

      $63,312

    • 2009

      $57,392

    • 2008

      $36,159


  • Variable

    Market Pension Debt/Capita

    • 2015

      $30,505

    • 2014

      $25,325

    • 2013

      $24,505

    • 2012

      $28,101

    • 2011

      $18,501

    • 2010

      $21,038

    • 2009

      $18,967

    • 2008

      $12,029


  • Variable

    Market Pension Debt/State General Fund Expenditures

    • 2015

      10.43

    • 2014

      9.91

    • 2013

      9.84

    • 2012

      12.38

    • 2011

      7.62

    • 2010

      9.00

    • 2009

      7.71

    • 2008

      4.28


  • Variable

    Market Pension Debt/State Total Expenditures

    • 2015

      4.62

    • 2014

      4.60

    • 2013

      4.50

    • 2012

      5.36

    • 2011

      3.23

    • 2010

      3.81

    • 2009

      3.59

    • 2008

      2.27


  • Variable

    Market Pension Debt/State Total General Fund Revenues

    • 2015

      10.73

    • 2014

      9.59

    • 2013

      9.56

    • 2012

      12.32

    • 2011

      7.46

    • 2010

      9.02

    • 2009

      8.47

    • 2008

      4.29


  • Variable

    Actuarial Pension Debt/Household

    • 2015

      $22,779

    • 2014

      $15,618

    • 2013

      $20,068

    • 2012

      $20,236

    • 2011

      $16,932

    • 2010

      $21,198

    • 2009

      $22,756

    • 2008

      $7,403


  • Variable

    Actuarial Pension Debt/Capita

    • 2015

      $7,492

    • 2014

      $5,090

    • 2013

      $6,544

    • 2012

      $6,673

    • 2011

      $5,600

    • 2010

      $7,044

    • 2009

      $7,520

    • 2008

      $2,463


  • Variable

    Actuarial Pension Debt/State General Fund Expenditures

    • 2015

      2.56

    • 2014

      1.99

    • 2013

      2.63

    • 2012

      2.94

    • 2011

      2.31

    • 2010

      3.01

    • 2009

      3.06

    • 2008

      0.88


  • Variable

    Actuarial Pension Debt/State Total Expenditures

    • 2015

      1.13

    • 2014

      0.93

    • 2013

      1.20

    • 2012

      1.27

    • 2011

      0.98

    • 2010

      1.28

    • 2009

      1.42

    • 2008

      0.46


  • Variable

    Actuarial Pension Debt/State Total General Fund Revenues

    • 2015

      2.63

    • 2014

      1.93

    • 2013

      2.55

    • 2012

      2.93

    • 2011

      2.26

    • 2010

      3.02

    • 2009

      3.36

    • 2008

      0.88


*Recommended not to combine dollar and other categories.

Pension Tracker

Stanford Institute for Economic Policy Research
366 Galvez Street
Stanford, CA  94305-6050
admin@pensiontracker.org