Unfunded Liability
$14.60B
actuarial shortfall
FY2023 data · Public Plans Database
Mississippi Public Employees Retirement System
The Public Plans Database's 23-year record for Mississippi Public Employees Retirement System: funded ratio, unfunded liability, member counts, and investment returns, compiled by Boston College CRR and cross-checked against actuarial valuations.
By PlainPension · · Mississippi · General State Plan · Data through FY2023
- Funded ratio
- 68.8%
- Health grade
- CReported funded ratio below full funding
- Market assets
- $32.18B
- Members
- 361,104
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Mississippi Public Employees Retirement System is one of 197 public pension plans tracked nationwide. The plan card reports FY2023 valuation figures; the multi-year table includes FY2024 where PPD published it; this site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.
Total Members
361,104
active + retired + vested
1-Year Return
8.3%
net investment return
-1.9pp vs 5-yr avg
5-Year Avg Return
10.2%
annualized, net of fees
How Mississippi Public Employees Retirement System Funded Ratio Compares
Plan Funded Ratio 68.8%
National avg
A ratio of 68.8% compared against the national public-pension average of 75.5%.
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 their annual CAFR and actuarial valuation. 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 |
|---|---|
| 2024 | 71.2% |
| 2023 | 68.8% |
| 2022 | 64.3% |
| 2021 | 64.1% |
| 2020 | 60.9% |
| 2019 | 60.4% |
| 2018 | 60.7% |
| 2017 | 61.6% |
| 2016 | 59.7% |
| 2015 | 60.5% |
| 2014 | 59.9% |
| 2013 | 59.6% |
| 2012 | 61.3% |
| 2011 | 64.7% |
| 2010 | 71.1% |
| 2009 | 78.9% |
| 2008 | 83.6% |
| 2007 | 88.7% |
| 2006 | 87.5% |
| 2005 | 79.3% |
What the Data Says About Mississippi Public Employees Retirement System
Mississippi Public Employees Retirement System reports a funded ratio of 68.8% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $32.18B in market assets against an unfunded liability of $14.60B. As a General State plan operating under Mississippi sponsorship, it covers 361,104 members (146,664 active contributors, 118,301 retirees drawing benefits).
Mississippi Public Employees Retirement System is funded above the midpoint but still carries a real shortfall, 7 points below the 75.5% national average across tracked plans. A 5-year average investment return of 10.2% factors into the plan's overall trajectory.
For Mississippi taxpayers and plan members, the $14.60B unfunded gap is the actuarial shortfall this plan must close over time.
Where this data comes from + how funding gaps get resolved
These figures come from the Public Plans Database, a collaboration between the Boston College Center for Retirement Research and NASRA that compiles them from each plan's Comprehensive Annual Financial Reports (CAFRs) and actuarial valuations. The relationship between contribution adequacy and investment performance determines whether an unfunded liability narrows or expands year over year, and the gap itself is typically closed through some combination of higher contributions, investment returns, or benefit modifications. See our methodology for how public-pension funding differs from ERISA-backed private plans, and our disclaimer below before acting on this data.
Membership
146,664
Active Members
118,301
Retirees
361,104
Total Members
Plan Details
- Plan Type
- General State
- State
- Mississippi
- Market Assets
- $32.18B
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Mississippi Public Employees Retirement System's 68.8% funded ratio.
- Sioux Falls ERS 68.8%
- Pittsburgh Municipal 68.7%
- Atlanta General Employees Pension Fund 68.6%
- Montana Teachers Retirement System 69.0%
- Greenville Fire Pension Plan 68.6%
Frequently Asked Questions
Is Mississippi Public Employees Retirement System fully funded?
Mississippi Public Employees Retirement System has a funded ratio of 68.8% as of FY2023, earning a health grade of C. The reported ratio shows actuarial assets divided by actuarial accrued liabilities for the stated fiscal year. Its interpretation depends on the plan's assumptions, valuation date, and contribution history.
What happens if Mississippi Public Employees Retirement System runs out of money?
A public plan's reported ratio is only one part of its financial picture. PlainPension does not predict actions by Mississippi Public Employees Retirement System, Mississippi, or any public body.
What does a funded ratio of 68.8% mean?
A funded ratio of 68.8% means that Mississippi Public Employees Retirement System currently has assets equal to 68.8% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $14.60B. This represents a moderate funding gap that requires ongoing monitoring.
How does Mississippi Public Employees Retirement System compare to other public pensions?
Mississippi Public Employees Retirement System is a General State plan in Mississippi serving 361,104 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Mississippi Public Employees Retirement System's funded ratio of 68.8% places it near the national average.
How many members does Mississippi Public Employees Retirement System have?
Mississippi Public Employees Retirement System covers 361,104 total members, including 146,664 active employees and 118,301 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.
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 PlainPension
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.
Data sources used on this page
- Public Plans Database (PPD) - funded ratios, assets, liabilities, and member counts for US state and local public pension plans, maintained by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA. publicplansdata.org
- NASRA - National Association of State Retirement Administrators public-pension actuarial and policy references. nasra.org
Every figure on PlainPension is rendered directly from the Public Plans Database (Boston College Center for Retirement Research), no number is typed in by an editor. This page aggregates this plan's funded ratio, unfunded liability, and multi-year financial history, live from the dataset. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.