Plan

Kern County Employees Retirement Association

State

California

Funded Ratio

93.1%

Assets

$5.39B

Members

23,104

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

FY2023 data Grade B Public Plans Database

Kern County Employees Retirement Association

Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Kern County Employees Retirement Association — 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 · California · Municipal Plan · Data through FY2023

Financial Health Grade

Adequately funded — meeting most funding benchmarks

Funded Ratio

93.1%

actuarial assets / liabilities

Unfunded Liability

$397M

actuarial shortfall

Total Members

23,104

active + retired + vested

1-Year Return

7.5%

net investment return

-1.0pp vs 5-yr avg

5-Year Avg Return

8.5%

annualized, net of fees

ARC Payment

32.2%

of actuarially required contribution

How Kern County Employees Retirement Association Funded Ratio Compares

Plan Funded Ratio 93.1%

National avg

A ratio of 93.1% 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	93.1%	N/A	N/A	N/A
2023	93.5%	$5.39B	$377M	23,104
2022	92.8%	$5.13B	$396M	22,106
2021	93.2%	$5.42B	$394M	21,424
2020	88.8%	$4.44B	$559M	21,136
2019	87.5%	$4.35B	$620M	20,569
2018	87.4%	$4.20B	$605M	19,772
2017	87.7%	$3.96B	$555M	19,184
2016	85.5%	$3.57B	$608M	62,307.844
2015	85.4%	$3.63B	$619M	58,504.203
2014	85.8%	$3.58B	$593M	56,184.094
2013	81.9%	$3.10B	$686M	53,988.633
2012	77.4%	$2.80B	$818M	51,264.531
2011	80.1%	$2.80B	$695M	49,886.637
2010	83.8%	$2.30B	$445M	15,979
2009	87.1%	$2.03B	$300M	16,263
2008	88.0%	$2.71B	$370M	15,994
2007	96.9%	$2.91B	$93M	15,665
2006	97.6%	$2.46B	$60M	14,990
2005	95.2%	$2.21B	$112M	14,318

What the Data Says About Kern County Employees Retirement Association

Kern County Employees Retirement Association reports a funded ratio of 93.1% as of fiscal year 2023, earning a financial health grade of B in the Public Plans Database. The plan holds $5.39B in market assets against an unfunded liability of $397M. As a Municipal plan operating under California sponsorship, it covers 23,104 members (9,557 active contributors, 9,156 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 Kern County Employees Retirement Association has substantial assets to meet projected obligations, placing it above the national public-pension average of roughly 72–75%. Employer contributions covered 32.2% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 8.5%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For California taxpayers and plan members, the $397M 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 Kern County Employees Retirement Association rely on the full faith and credit of California — 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

9,557

Active Members

9,156

Retirees

23,104

Total Members

Plan Details

Plan Type: Municipal
State: California
Market Assets: $5.39B
ARC Payment: 32.2%

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

Other California Plans

Sacramento County ERS 101.7%
San Diego County Employees Retirement Association 91.2%
San Francisco City and County Retirement System 82.9%
Los Angeles Water and Power 82.6%
Alameda County Employee's Retirement Association 82.5%

All California plans →

Related Resources

Pension Guides

Frequently Asked Questions

Is Kern County Employees Retirement Association fully funded?

Kern County Employees Retirement Association has a funded ratio of 93.1% 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 Kern County Employees Retirement Association runs out of money?

Public pension plans like Kern County Employees Retirement Association are backed by the sponsoring government entity — in this case California. 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 93.1% mean?

A funded ratio of 93.1% means that Kern County Employees Retirement Association currently has assets equal to 93.1% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $397M. This is considered adequately funded.

How does Kern County Employees Retirement Association compare to other public pensions?

Kern County Employees Retirement Association is a Municipal plan in California serving 23,104 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Kern County Employees Retirement Association's funded ratio of 93.1% places it above the national average, reflecting strong fiscal management.

How many members does Kern County Employees Retirement Association have?

Kern County Employees Retirement Association covers 23,104 total members, including 9,557 active employees and 9,156 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 Kern County Employees Retirement Association?

Kern County Employees Retirement Association pays 32.2% 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