Michigan State Employees Retirement System
public plan · State of Michigan · Detroit, MI
Funding History
What This Means for You
Michigan State Employees Retirement System is 59% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $8.7B in unfunded liabilities that must be addressed through increased contributions, investment returns, or benefit adjustments. Current participants should monitor this plan and consider supplemental retirement savings.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $12.7B | $21.4B | 59.4% | $903.6M |
| 2024 | $12.1B | $20.3B | 59.3% | $785.1M |
| 2023 | $11.8B | $20.1B | 59.1% | $906.9M |
| 2022 | $11.6B | $20.7B | 56.2% | $1.2B |
| 2021 | $11.0B | $18.6B | 59.4% | $1.1B |
Frequently Asked Questions
Michigan State Employees Retirement System is 59% funded, meaning it has 59 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Michigan State Employees Retirement System has 85,577 total participants, including 33,332 active employees and 52,245 retirees currently receiving benefits.
Michigan State Employees Retirement System is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.