Funded Ratio
80.7%
actuarial assets / liabilities
Plan
Hawaii Employees Retirement System
State
Hawaii
Funded Ratio
80.7%
Assets
N/A
Members
128,213
Health Grade: B — Adequately funded — meeting most funding benchmarks
FY2023 data Grade B Public Plans Database
Hawaii Employees Retirement System
Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Hawaii Employees Retirement System — sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.
B
Financial Health Grade
Adequately funded — meeting most funding benchmarks
Unfunded Liability
N/A
actuarial shortfall
Total Members
128,213
active + retired + vested
1-Year Return
10.5%
net investment return
1.7pp vs 5-yr avg
5-Year Avg Return
8.9%
annualized, net of fees
ARC Payment
12.7%
of actuarially required contribution
How Hawaii Employees Retirement System Funded Ratio Compares
Plan Funded Ratio 80.7%
National avg
A ratio of 80.7% 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.
Historical Funded Ratio
| Year | Funded Ratio |
|---|---|
| 2024 | 80.7% |
| 2023 | 81.4% |
| 2022 | 82.4% |
| 2021 | 83.4% |
| 2020 | 82.0% |
| 2019 | 84.2% |
| 2018 | 84.0% |
| 2017 | 84.3% |
| 2016 | 85.4% |
| 2015 | 86.5% |
| 2014 | 86.6% |
| 2013 | 85.4% |
| 2012 | 86.4% |
| 2011 | 86.9% |
| 2010 | 88.0% |
| 2009 | 87.9% |
| 2008 | 105.3% |
| 2007 | 105.7% |
| 2006 | 105.6% |
| 2005 | 107.3% |
What the Data Says About Hawaii Employees Retirement System
Hawaii Employees Retirement System reports a funded ratio of 80.7% as of fiscal year 2023, earning a financial health grade of B in the Public Plans Database. The plan holds N/A in market assets against an unfunded liability of N/A. As a General State plan operating under Hawaii sponsorship, it covers 128,213 members (64,243 active contributors, 54,973 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 Hawaii Employees Retirement System has substantial assets to meet projected obligations, placing it above the national public-pension average of roughly 72–75%. Employer contributions covered 12.7% 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 Hawaii taxpayers and plan members, the N/A 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 Hawaii Employees Retirement System rely on the full faith and credit of Hawaii — 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
64,243
Active Members
54,973
Retirees
128,213
Total Members
Plan Details
- Plan Type
- General State
- State
- Hawaii
- ARC Payment
- 12.7%
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Related Resources
Frequently Asked Questions
Is Hawaii Employees Retirement System fully funded?
Hawaii Employees Retirement System has a funded ratio of 80.7% 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 Hawaii Employees Retirement System runs out of money?
Public pension plans like Hawaii Employees Retirement System are backed by the sponsoring government entity — in this case Hawaii. 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 80.7% mean?
A funded ratio of 80.7% means that Hawaii Employees Retirement System currently has assets equal to 80.7% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at N/A. This is considered adequately funded.
How does Hawaii Employees Retirement System compare to other public pensions?
Hawaii Employees Retirement System is a General State plan in Hawaii serving 128,213 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Hawaii Employees Retirement System's funded ratio of 80.7% places it above the national average, reflecting strong fiscal management.
How many members does Hawaii Employees Retirement System have?
Hawaii Employees Retirement System covers 128,213 total members, including 64,243 active employees and 54,973 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 Hawaii Employees Retirement System?
Hawaii Employees Retirement System pays 12.7% 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.
Related
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