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2008 earnings crediting

The PERS Board adopted the following earnings factors and reserve amounts for calendar year 2008 at its March 31, 2009 meeting:

Accounts

Account typeEarnings factors
Tier One Member Regular8.00%
Tier Two Member Regular-27.18%
Individual Account Program-26.75%
Variable-43.71%

 

2008 reserving/crediting

Reserve/AccountBalance Before 2008 Crediting ($ millions)Final 2008 Crediting Amount
($ millions)
Final Ending Reserve Balance ($ millions)
Contingency$653.2$0.0$653.2
Tier One Member Regular Accounts6,720.5537.67,258.2
Tier One Rate Guarantee1,889.2-2,877.6-988.5
Benefits in Force (BIF)23,755.7-6,456.417,299.2
Tier Two Member Regular Accounts766.7-208.4558.3
Employer17,676.6-4,825.412,851.2
OPSRP Pension376.3-107.8268.7
UAL Lump-Sum Payment Side Accounts7,108.5-1,973.85,134.8
IAP Accounts2,537.3-678.81,858.5
TOTAL $61,484.2 -$16,590.5 $44,893.7