Plan

Denver Employees Retirement Plan

State

Colorado

Funded Ratio

108.3%

Assets

$2.49B

Members

23,826

Health Grade: B — Adequately funded — meeting most funding benchmarks

FY2023 data Grade B Public Plans Database

Denver Employees Retirement Plan

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

Financial Health Grade

Adequately funded — meeting most funding benchmarks

Funded Ratio

108.3%

actuarial assets / liabilities

Unfunded Liability

$-190M

actuarial shortfall

Total Members

23,826

active + retired + vested

1-Year Return

17.5%

net investment return

8.9pp vs 5-yr avg

5-Year Avg Return

8.6%

annualized, net of fees

ARC Payment

15.9%

of actuarially required contribution

How Denver Employees Retirement Plan Funded Ratio Compares

Plan Funded Ratio 100.0%

National avg

A ratio of 108.3% 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	108.3%	N/A	N/A	N/A
2023	106.9%	$2.49B	$-160M	23,826
2022	114.7%	$2.33B	$-297M	23,826
2021	117.9%	$2.67B	$-405M	22,991
2020	110.8%	$2.37B	$-231M	22,868
2019	111.9%	$2.26B	$-240M	22,965
2018	112.0%	$2.06B	$-220M	22,533
2017	110.8%	$2.23B	$-217M	22,202
2016	110.8%	$2.01B	$-196M	21,783
2015	107.6%	$1.95B	$-137M	21,174
2014	107.3%	$2.06B	$-139M	20,770
2013	110.1%	$2.03B	$-187M	20,198
2012	110.1%	$1.78B	$-163M	19,622
2011	108.6%	$1.65B	$-130M	19,347
2010	108.0%	$1.73B	$-127M	19,352
2009	100.7%	$1.59B	$-11M	19,353
2008	99.8%	$1.46B	$3M	19,535
2007	101.0%	$2.04B	$-20M	19,220
2006	91.6%	$1.90B	$174M	18,627
2005	N/A	$1.71B	N/A	18,192

What the Data Says About Denver Employees Retirement Plan

Denver Employees Retirement Plan reports a funded ratio of 108.3% as of fiscal year 2023, earning a financial health grade of B in the Public Plans Database. The plan holds $2.49B in market assets against an unfunded liability of $-190M. As a General State plan operating under Colorado sponsorship, it covers 23,826 members (9,228 active contributors, 10,895 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 above 80% signals that Denver Employees Retirement Plan has substantial assets to meet projected obligations, placing it above the national public-pension average of roughly 72–75%. Employer contributions covered 15.9% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 8.6%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For Colorado taxpayers and plan members, the $-190M 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 Denver Employees Retirement Plan rely on the full faith and credit of Colorado — 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

9,228

Active Members

10,895

Retirees

23,826

Total Members

Plan Details

Plan Type: General State
State: Colorado
Market Assets: $2.49B
ARC Payment: 15.9%

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

Other Colorado Plans

Colorado Public Employees Retirement Association 89.2%

All Colorado plans →

Related Resources

Pension Guides

Frequently Asked Questions

Is Denver Employees Retirement Plan fully funded?

Denver Employees Retirement Plan has a funded ratio of 108.3% as of FY2023, earning a health grade of B. 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 Denver Employees Retirement Plan runs out of money?

Public pension plans like Denver Employees Retirement Plan are backed by the sponsoring government entity — in this case Colorado. 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 108.3% mean?

A funded ratio of 108.3% means that Denver Employees Retirement Plan currently has assets equal to 108.3% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $-190M. This is considered adequately funded.

How does Denver Employees Retirement Plan compare to other public pensions?

Denver Employees Retirement Plan is a General State plan in Colorado serving 23,826 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Denver Employees Retirement Plan's funded ratio of 108.3% places it above the national average, reflecting strong fiscal management.

How many members does Denver Employees Retirement Plan have?

Denver Employees Retirement Plan covers 23,826 total members, including 9,228 active employees and 10,895 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 Denver Employees Retirement Plan?

Denver Employees Retirement Plan pays 15.9% 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