3.6 percent experience apportionment for Pension Plan effective July 1

June 24, 2019

The apportionment is the seventh in as many years, representing a cumulative increase of 23.9 percent since 2013.

A 3.6 percent experience apportionment for the Pension Plan takes effect July 1, 2019, as approved by the Board of Directors of the Board of Pensions in March. The apportionment is the seventh in as many years, representing a cumulative increase of 23.9 percent since 2013.

The apportionment affects Pension Plan participants differently, depending upon their status:

  • Retirees and eligible survivors will see a permanent increase in their pension benefit beginning in July.
  • Terminated vested members will see a permanent increase in pension credits accrued, expressed as a percentage of those credits. These members are being notified of the increase this month.
  • Active members will see an increase in their projected pension benefit on Benefits Connect.

The Pension Plan's funded status as of December 31, 2018, was 125.6 percent.

Learn more about the experience apportionment process.