Plan

Burlington ERS

State

Vermont

Funded Ratio

64.4%

Assets

$224M

Members

2,187

Health Grade: C — Underfunded — significant gap between assets and liabilities

FY2023 data Grade C Public Plans Database

Burlington ERS

Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Burlington ERS — sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.

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By Kiznis Studio Editorial · June 2026 · Vermont · General State Plan · Data through FY2023

Financial Health Grade

Underfunded — significant gap between assets and liabilities

Funded Ratio

64.4%

actuarial assets / liabilities

Unfunded Liability

$124M

actuarial shortfall

Total Members

2,187

active + retired + vested

1-Year Return

7.7%

net investment return

0.9pp vs 5-yr avg

5-Year Avg Return

6.9%

annualized, net of fees

ARC Payment

40.4%

of actuarially required contribution

How Burlington ERS Funded Ratio Compares

Plan Funded Ratio 64.4%

National avg

A ratio of 64.4% compared against the national public-pension average of 73.5%.

Healthy Threshold

Plans above 80% are generally considered adequately funded by NASRA standards.

Participant Composition

The active-to-retiree ratio is a leading indicator of long-term plan sustainability — plans with more retirees than active contributors face mounting cash-flow pressure as benefit payments outpace incoming contributions.

Investment Policy Mix

Public pension plans report their asset allocation in Form 5500 Schedule H Part I disclosures. Equity-heavy mixes capture market upside but introduce volatility; fixed-income tilts protect funded status during downturns at the cost of long-run return.

Historical Funded Ratio

Year	Funded Ratio	Assets	Unfunded	Members
2024	64.4%	N/A	N/A	N/A
2023	66.5%	$224M	$113M	2,187
2022	66.2%	$209M	$107M	2,134
2021	67.0%	$249M	$123M	2,073
2020	65.6%	$195M	$102M	2,040
2019	65.3%	$195M	$103M	2,054
2018	66.8%	$189M	$94M	1,999
2017	67.9%	$175M	$83M	1,890
2016	67.9%	$157M	$74M	1,890
2015	69.3%	$162M	$72M	1,839
2014	71.0%	$164M	$67M	1,877
2013	73.0%	$146M	$54M	1,789
2012	72.0%	$136M	$53M	1,727
2011	72.2%	$134M	$52M	1,684
2010	73.9%	$112M	$39M	1,669
2009	74.2%	$95M	$33M	1,627
2008	78.6%	$118M	$32M	1,582
2007	84.6%	$128M	$23M	1,586
2006	84.2%	$108M	$20M	1,488
2005	83.2%	$101M	$20M	1,458

What the Data Says About Burlington ERS

Burlington ERS reports a funded ratio of 64.4% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $224M in market assets against an unfunded liability of $124M. As a General State plan operating under Vermont sponsorship, it covers 2,187 members (923 active contributors, 875 retirees drawing benefits). These figures aggregate from Form 5500 filings submitted to the Department of Labor and actuarial valuations reported through NASRA.

A funded ratio in the 60–80% range indicates moderate underfunding that falls near the national average of 72–75% but leaves the plan exposed to market downturns and demographic shifts. Employer contributions covered 40.4% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 6.9%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For Vermont taxpayers and plan members, the $124M unfunded gap represents the actuarial shortfall that must eventually be closed through a combination of contributions, investment returns, or benefit modifications. Unlike private-sector pensions governed by ERISA and backstopped by the PBGC, public plans like Burlington ERS rely on the full faith and credit of Vermont — meaning funding shortfalls flow through to state and local budgets rather than a federal insurance program. This information summarizes official Public Plans Database disclosures and is provided for research and educational purposes only. It is not financial, legal, or retirement-planning advice; active and retired members with specific benefit questions should consult their plan administrator directly.

Membership

923

Active Members

875

Retirees

2,187

Total Members

Plan Details

Plan Type: General State
State: Vermont
Market Assets: $224M
ARC Payment: 40.4%

Source: Public Plans Database (PPD)
Boston College CRR / NASRA

Other Vermont Plans

Vermont Teachers Retirement System 96.6%
Vermont State Employees Retirement System 77.5%
Vermont Municipal Employees N/A

All Vermont plans →

Related Resources

Pension Guides

Frequently Asked Questions

Is Burlington ERS fully funded?

Burlington ERS has a funded ratio of 64.4% as of FY2023, earning a health grade of C. A funded ratio of 100% means the plan has enough assets to cover all projected liabilities. Ratios above 80% are generally considered adequately funded; ratios below 60% indicate significant underfunding and risk to future benefits.

What happens if Burlington ERS runs out of money?

Public pension plans like Burlington ERS are backed by the sponsoring government entity — in this case Vermont. If a plan's assets are insufficient, the state or local government is typically required to make up the difference through increased contributions, benefit adjustments, or tax measures. Unlike private pensions, public pensions are not insured by the PBGC, but they do carry the full faith and credit of the sponsoring government.

What does a funded ratio of 64.4% mean?

A funded ratio of 64.4% means that Burlington ERS currently has assets equal to 64.4% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $124M. This represents a moderate funding gap that requires ongoing monitoring.

How does Burlington ERS compare to other public pensions?

Burlington ERS is a General State plan in Vermont serving 2,187 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Burlington ERS's funded ratio of 64.4% places it below the national average, indicating elevated fiscal pressure.

How many members does Burlington ERS have?

Burlington ERS covers 2,187 total members, including 923 active employees and 875 retirees currently receiving benefits. The ratio of active members to retirees is a key indicator of plan sustainability — when the number of retirees grows relative to active contributors, funding pressure increases.

What is the ARC payment percentage for Burlington ERS?

Burlington ERS pays 40.4% of its Annual Required Contribution (ARC). Consistently underpaying the ARC accelerates the growth of unfunded liabilities and places future benefits at greater risk. Employer contribution patterns are tracked annually in the Public Plans Database.

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Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by Kiznis Studio Editorial

Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the Public Plans Database (PPD). Consult a qualified professional before making decisions based on this data.

Read our methodology — how this data is sourced, computed, and verified.

All federal data sources used on this page

U.S. Census Bureau ACS — demographic + housing + income data. census.gov/programs-surveys/acs
BLS Occupational Employment and Wage Statistics (OEWS) — wage + employment by occupation. bls.gov/oes
BEA Regional Economic Accounts — GDP + personal income by state/metro. bea.gov/data/regional
U.S. Census Bureau County Business Patterns — establishment + employment by industry. census.gov/cbp
IRS Statistics of Income (SOI) — tax-return aggregate data. irs.gov/statistics
data.gov — U.S. federal open-data portal — discovery layer for additional federal sources. data.gov