Salt Lake County Employees Retirement Fund
public plan · Salt Lake County · Meridian, ID
Funding History
What This Means for You
Salt Lake County Employees Retirement Fund is significantly underfunded at 59%, with $1.7B in unfunded liabilities affecting 21,834 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $2.4B | $4.0B | 58.7% | $144.0M |
| 2024 | $2.3B | $3.9B | 59.1% | $141.9M |
| 2023 | $2.2B | $4.0B | 55.9% | $175.9M |
| 2022 | $2.1B | $3.4B | 61.8% | $182.0M |
| 2021 | $2.0B | $3.3B | 60.6% | $160.7M |
Frequently Asked Questions
Salt Lake County Employees Retirement Fund 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.
Salt Lake County Employees Retirement Fund has 21,834 total participants, including 13,042 active employees and 8,792 retirees currently receiving benefits.
Salt Lake County Employees Retirement Fund 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.