Unfunded Liability
$920M
actuarial shortfall
FY2023 data · Public Plans Database
Montgomery County Employees Retirement System
Everything the Public Plans Database tracks for Montgomery County Employees Retirement System: funded ratio, unfunded liability, membership, and 23 years of financial history, compiled by Boston College CRR and checked against actuarial valuations.
By PlainPension · · Maryland · Municipal Plan · Data through FY2023
- Funded ratio
- 83.9%
- Health grade
- BReported funded ratio above the portfolio average range
- Market assets
- $4.78B
- Members
- 13,806
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Montgomery County 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
13,806
active + retired + vested
1-Year Return
6.1%
net investment return
-2.3pp vs 5-yr avg
5-Year Avg Return
8.4%
annualized, net of fees
How Montgomery County Employees Retirement System Funded Ratio Compares
Plan Funded Ratio 83.9%
National avg
A ratio of 83.9% 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 | 85.3% |
| 2023 | 83.9% |
| 2022 | 85.8% |
| 2021 | 82.1% |
| 2020 | 80.6% |
| 2019 | 81.6% |
| 2018 | 81.4% |
| 2017 | 81.1% |
| 2016 | 87.3% |
| 2015 | 86.8% |
| 2014 | 85.2% |
| 2013 | 82.8% |
| 2012 | 83.3% |
| 2011 | 87.0% |
| 2010 | 87.7% |
| 2009 | 86.0% |
| 2008 | 93.2% |
| 2007 | 93.4% |
| 2006 | 93.0% |
| 2005 | 93.2% |
What the Data Says About Montgomery County Employees Retirement System
Montgomery County Employees Retirement System reports a funded ratio of 83.9% as of fiscal year 2023, earning a financial health grade of B in the Public Plans Database. The plan holds $4.78B in market assets against an unfunded liability of $920M. As a Municipal plan operating under Maryland sponsorship, it covers 13,806 members (6,229 active contributors, 6,809 retirees drawing benefits).
Montgomery County Employees Retirement System ranks among the better-funded plans in the database, 8 points above the 75.5% national average across tracked plans. A 5-year average investment return of 8.4% factors into the plan's overall trajectory.
For Maryland taxpayers and plan members, the $920M 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
6,229
Active Members
6,809
Retirees
13,806
Total Members
Plan Details
- Plan Type
- Municipal
- State
- Maryland
- Market Assets
- $4.78B
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Montgomery County Employees Retirement System's 83.9% funded ratio.
Other Maryland Plans
- Baltimore Fire and Police Employees Retirement System 103.0%
- Maryland State Retirement and Pension System 79.9%
- Baltimore City Employees 66.9%
Frequently Asked Questions
Is Montgomery County Employees Retirement System fully funded?
Montgomery County Employees Retirement System has a funded ratio of 83.9% as of FY2023, earning a health grade of B. A funded ratio measures reported actuarial assets relative to reported accrued liabilities. It is useful context, but it cannot on its own predict future contributions, benefits, or public-policy decisions.
What happens if Montgomery County Employees Retirement System runs out of money?
Public plans are governed under state and local rules that differ by jurisdiction. The PPD figures shown here are financial data, not a finding about benefit security or taxpayer obligations.
What does a funded ratio of 83.9% mean?
A funded ratio of 83.9% means that Montgomery County Employees Retirement System currently has assets equal to 83.9% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $920M. This is considered adequately funded.
How does Montgomery County Employees Retirement System compare to other public pensions?
Montgomery County Employees Retirement System is a Municipal plan in Maryland serving 13,806 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Montgomery County Employees Retirement System's funded ratio of 83.9% places it above the national average, reflecting strong fiscal management.
How many members does Montgomery County Employees Retirement System have?
Montgomery County Employees Retirement System covers 13,806 total members, including 6,229 active employees and 6,809 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.