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Welcome to PSPRS

Welcome to PSPRS. Public Safety Personnel Retirement System Corrections Officer Retirement Plan Elected Officials’ Retirement Plan. Fiscal Year 2013 Financial Report as of June 30, 2013. Active Members 33,855 Terminated Vested Members 3,065 Drop 1,482 Retired 15,026

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Welcome to PSPRS

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  1. Welcome to PSPRS Version Date : 01-22-2014

  2. Public Safety Personnel Retirement SystemCorrections Officer Retirement PlanElected Officials’ Retirement Plan Fiscal Year 2013 Financial Report as of June 30, 2013 Version Date : 01-22-2014

  3. Active Members33,855 Terminated Vested Members 3,065 Drop 1,482 Retired 15,026 Normal 11,450 Beneficiaries 2,036 Disability 1,540 Total Participants 53,428 Total Plan StatisticsDefined Benefit Plan Version Date : 01-22-2014

  4. Active Members 18,436 Terminated Vested Members 1,442 Drop 1,482 Retired 10,159 Normal 7,444 Beneficiaries 1,305 Disability 1,410 Total Participants 31,519 Total PSPRS StatisticsDefined Benefit Plan Version Date : 01-22-2014

  5. Total Plan StatisticsDefined Benefit Plan Version Date : 01-22-2014

  6. Total RevenueJune 30, 2013 Total Revenue $1,390,349,335 Version Date : 01-22-2014

  7. Total RevenueJune 30, 2013 Version Date : 01-22-2014

  8. Total ExpensesJune 30, 2013 Total Expenses $762,306,028 Version Date : 01-22-2014

  9. Total ExpensesJune 30, 2013 Version Date : 01-22-2014

  10. Net Cash FlowFYE June 30 (thousands) EE-ER Contributions – Benefits Payments and Expenses Version Date : 01-22-2014

  11. Asset AllocationJune 30, 2006 at Market Version Date : 01-22-2014

  12. AssetAllocationOctober 31, 2013 Total Fund $7,669,845,141 Version Date : 01-22-2014

  13. Total Fund Rates of Return FY’13 Version Date : 01-22-2014

  14. Total Fund Rates of Return FY’14 (Gross of fees) Version Date : 01-22-2014

  15. Asset Allocation Version Date : 01-22-2014

  16. Total Fund Performance As of June 30, 2013 • The Total Fund returned 11.14% over the Fiscal Year ending June 30, 2013 gross of fees per the CAFR • The Total Fund Universe is comprised of Public Funds from the ICC Public Fund Universe and includes over 100 Public Funds over the five full years • Rank shows how the performance of the Total Fund compared relative to other Public Funds • Returns are gross of fees Version Date : 01-22-2014

  17. Contribution to Return by Asset Class FY ‘13 (net of fees) Version Date : 01-22-2014

  18. Total Fund vs. Benchmark (as of June 30, 2013) *Total Fund returns are gross of fees ** July 1, 2013 to Present: 17% Russell 3000, 14% MSCI World Ex-US Net, 10% Russell 3000 + 100 bps, 8% BC Global Aggregate, 12% Credit Opportunities Benchmark, 4% BofA ML 3-Month T-Bill + 200 bps, 10% 3-Month LIBOR + 300 bps, 8% CPI + 200 bps, 11% NCREIF NPI, 4% Risk Parity Benchmark and 2% BofA ML 3-Month T-Bill Version Date : 01-22-2014

  19. Worst case scenarios – lessons from the past • Stress testing: The style analysis model of our current holding can be subjected to stress scenarios. New: On request by Board of Trustees Version Date : 01-22-2014

  20. PSPRS Risk-adjusted return relative to the peer groups Version Date : 01-22-2014

  21. Funding Levels Version Date : 01-22-2014

  22. PSPRS – Aggregate Employer Rates *The aggregate computed contribution rates before application of the statutory minimum Version Date : 01-22-2014

  23. Total Fund Changing Financial Status (in 000s) *Market value does not include future benefit increase reserve Version Date : 01-22-2014

  24. PSPRS Changing Financial Status (in 000s) *Market value does not include future benefit increase reserve Version Date : 01-22-2014

  25. Current Issues • Developing a communications plan to better reach the members. • 65% of the membership have registered emails and will get periodic updates from PSPRS. • Six times a year we send out newsletters to the Local Boards (employer) about current issues and updates from PSPRS. Version Date : 01-22-2014

  26. Legislative initiatives that may affect PSPRS • H 2122 EORP Defined Contribution • H 2203 PSPRS Board Membership • H 2060 PSPRS Oversight; Procurement • H 2166 PSPRS Contribution; County Employers • H 2056 Retirement; Return to Work • H 2090 Defined Contribution Plan • HCR 2001 Public Retirement Systems • H 2058 Public Pension; Limit on Compensation Version Date : 01-22-2014

  27. Fields Case • No update on the Supreme Court decision • If unfavorable, the employer rates would increase. Version Date : 01-22-2014

  28. Questions? Version Date : 01-22-2014

  29. Thank you for attending Version Date : 01-22-2014

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