Plan

Connecticut State Employees Retirement System

State

Connecticut

Funded Ratio

66.1%

Assets

$21.24B

Members

108,013

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

FY2023 data Grade C Public Plans Database

Connecticut State Employees Retirement System

Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Connecticut State Employees Retirement System — 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 · Connecticut · General State Plan · Data through FY2023

Financial Health Grade

Underfunded — significant gap between assets and liabilities

Funded Ratio

66.1%

actuarial assets / liabilities

Unfunded Liability

$10.90B

actuarial shortfall

Total Members

108,013

active + retired + vested

1-Year Return

10.8%

net investment return

1.9pp vs 5-yr avg

5-Year Avg Return

8.9%

annualized, net of fees

ARC Payment

23.3%

of actuarially required contribution

How Connecticut State Employees Retirement System Funded Ratio Compares

Plan Funded Ratio 66.1%

National avg

A ratio of 66.1% 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	66.1%	N/A	N/A	N/A
2023	66.7%	$21.24B	$10.61B	108,013
2022	67.0%	$18.60B	$9.15B	106,301
2021	65.3%	$17.08B	$9.08B	103,799
2020	60.6%	$13.25B	$8.62B	102,597
2019	59.9%	$13.28B	$8.89B	103,359
2018	57.9%	$12.53B	$9.10B	100,875
2017	59.4%	$11.98B	$8.20B	N/A
2016	56.3%	$10.65B	$8.28B	99,622
2015	60.7%	$10.67B	$6.91B	N/A
2014	60.9%	$10.47B	$6.74B	97,236
2013	60.3%	$9.18B	$6.05B	N/A
2012	62.1%	$8.47B	$5.17B	93,316
2011	60.2%	$8.99B	$5.94B	93,418
2010	64.8%	$7.79B	$4.23B	93,448
2009	69.2%	$7.32B	$3.26B	N/A
2008	70.1%	$9.33B	$3.98B	92,881
2007	75.5%	$10.04B	$3.26B	91,551
2006	74.1%	$8.77B	$3.06B	89,301
2005	73.9%	$8.15B	$2.88B	87,374

What the Data Says About Connecticut State Employees Retirement System

Connecticut State Employees Retirement System reports a funded ratio of 66.1% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $21.24B in market assets against an unfunded liability of $10.90B. As a General State plan operating under Connecticut sponsorship, it covers 108,013 members (47,269 active contributors, 57,327 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 23.3% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 8.9%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For Connecticut taxpayers and plan members, the $10.90B 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 Connecticut State Employees Retirement System rely on the full faith and credit of Connecticut — 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

47,269

Active Members

57,327

Retirees

108,013

Total Members

Plan Details

Plan Type: General State
State: Connecticut
Market Assets: $21.24B
ARC Payment: 23.3%

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

Other Connecticut Plans

Connecticut Municipal 72.0%
Connecticut Teachers Retirement Board 66.3%
Hartford Municipal Employee Retirement Fund 65.9%

All Connecticut plans →

Related Resources

Pension Guides

Frequently Asked Questions

Is Connecticut State Employees Retirement System fully funded?

Connecticut State Employees Retirement System has a funded ratio of 66.1% 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 Connecticut State Employees Retirement System runs out of money?

Public pension plans like Connecticut State Employees Retirement System are backed by the sponsoring government entity — in this case Connecticut. 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 66.1% mean?

A funded ratio of 66.1% means that Connecticut State Employees Retirement System currently has assets equal to 66.1% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $10.90B. This represents a moderate funding gap that requires ongoing monitoring.

How does Connecticut State Employees Retirement System compare to other public pensions?

Connecticut State Employees Retirement System is a General State plan in Connecticut serving 108,013 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Connecticut State Employees Retirement System's funded ratio of 66.1% places it near the national average.

How many members does Connecticut State Employees Retirement System have?

Connecticut State Employees Retirement System covers 108,013 total members, including 47,269 active employees and 57,327 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 Connecticut State Employees Retirement System?

Connecticut State Employees Retirement System pays 23.3% 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