Michigan Public School Employees Retirement System (MPSERS) vs Pennsylvania State Employees Retirement System (SERS)
Side-by-side pension health comparison from DOL and public plan data
Verdict
Pennsylvania State Employees Retirement System (SERS) has a stronger Pension Health Score of 57/100 (C) compared to Michigan Public School Employees Retirement System (MPSERS) at 56/100 (C). Funding ratios differ by 2.7 percentage points (63.1% vs 60.4%). Pennsylvania State Employees Retirement System (SERS) covers 245,000 participants.
| Metric | Michigan Public School Employees Retirement System (MPSERS) | Pennsylvania State Employees Retirement System (SERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 56/100 (C) | 57/100 (C)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 60.4% | 63.1%* |
| Total Assets | $54.0B | $36.2B |
| Total Liabilities | $89.4B | $57.4B* |
| Unfunded Liability | $35.4B | $21.2B* |
| Participants | 465,000 | 245,000 |
| 1-Year Investment Return | 5.3% | 5.4%* |
| Plan Type | public | public |
| PBGC Risk Level | high | high |
| Sponsor | State of Michigan | State of Pennsylvania |
Pennsylvania State Employees Retirement System (SERS) has a stronger Pension Health Score of 57/100 (C) compared to Michigan Public School Employees Retirement System (MPSERS) at 56/100 (C). Funding ratios differ by 2.7 percentage points (63.1% vs 60.4%). Pennsylvania State Employees Retirement System (SERS) covers 245,000 participants.