Is New Castle County Pension Program fully funded?

New Castle County Pension Program has a source-reconciled actuarial funded ratio of 73.2% as of FY2024, earning a health grade of F. 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 New Castle County Pension Program 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 73.2% mean?

A funded ratio of 73.2% means that New Castle County Pension Program reported actuarial assets equal to 73.2% of its accrued liabilities at that valuation date. The source-reported actuarial unfunded liability stands at $200M. This represents a moderate funding gap that requires ongoing monitoring.

How does New Castle County Pension Program compare to other public pensions?

New Castle County Pension Program is a Municipal plan in Delaware serving 2,597 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. New Castle County Pension Program's source-reconciled actuarial funded ratio of 73.2% places it near the national average.

How many members does New Castle County Pension Program have?

New Castle County Pension Program covers 2,597 total members, including 1,047 active employees and 1,452 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.

FY2024 source-reconciled actuarial data · Public Plans Database

New Castle County Pension Program

Everything the Public Plans Database tracks for New Castle County Pension Program: funded ratio, unfunded liability, membership, and 23 years of financial history, compiled by Boston College CRR and checked against actuarial valuations.

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By PlainPension · July 2026 · Delaware · Municipal Plan · Data through FY2024

Actuarial funded ratio: 73.2%
Health grade: FLowest reported funded-ratio band in this dataset
Actuarial assets: $548M
Members: 2,597

According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, New Castle County Pension Program is one of 197 public pension plans tracked nationwide. The plan card reports source-reconciled actuarial figures through FY2024; the multi-year table includes only years whose reported ratio ties to its actuarial dollars. This site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.

Sliding funded-ratio path

New Castle County Pension Program lost 45.8 points from FY2001 (119.0%) to FY2024 (73.2%) on the reconciled series.

New Castle County Pension Program on a sliding funded path

According to the Public Plans Database, New Castle County Pension Program lost 45.8 points on the reconciled series from FY2001 to FY2024, and now reports 73.2% (grade F).

73.2%
Actuarial funded ratio: F
Health grade: $200M
Actuarial unfunded liability: -45.8pp
FY2001→FY2024

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Actuarial Unfunded Liability

$200M

Below-median unfunded liability · source-reported UAAL

Total Members

2,597

active + retired + vested

Composite Health Score

38/100

New Castle County Pension Program

Transparent derived index from public pension-plan filings, not an official rating. A 4-dimension composite (funded ratio, contribution discipline, 5-year investment return, unfunded burden), each scored against this dataset's own percentile distribution across 197 reporting plans. Not the same as the plan's headline funded-ratio grade above. See the exact dimensions, weights, and formula.

Funded Ratio D

73.2%

Actuarial assets as a share of liabilities

Contribution Discipline F

100.0%

Share of the actuarially required contribution actually paid

Investment Returns N/A

N/A

5-year annualized investment return

Unfunded Burden D

27.1%

Unfunded liability as a share of total obligations

How this score is calculated (benchmark table)

Dimension	P10	P25	P50	P75	P90	Weight
Funded ratio (higher = better)	57.6%	67.2%	75.0%	87.0%	97.6%	0.35
Contribution discipline (ARC) (higher = better)	88.4%	100.0%	100.0%	104.1%	122.1%	0.25
5yr investment return (higher = better)	6.4%	7.5%	8.3%	9.1%	9.9%	0.20
Unfunded burden (lower = better)	2.0%	12.7%	25.0%	33.1%	42.4%	0.20

Percentiles computed across all 197 plans in this database with a reported value for that metric (2026-09-09). A dimension a plan does not report drops out of its composite, and that weight redistributes across the dimensions it does report, so thin reporting never silently lowers a score relative to a fully-reported peer.

Participant Composition

Investment Policy Mix

What changed, FY2023 to FY2024

1.7 pts funded ratio

New Castle County Pension Program's funded ratio rose 1.7 points from FY2023 to FY2024, driven by its assets, which grew 3.2% while the accrued liability moved +0.9%.

Funded ratio

71.6% → 73.2%

Actuarial assets

$531M → $548M (+3.2%)

Accrued liability

$742M → $749M (+0.9%)

Where the 1.7-point move came from

Assets: +2.3 pts
Accrued liability: -0.6 pts

Accrued liability is the source-reported value for benefits already promised. The two contributions are the move the ratio would have made on the prior year’s liability (assets) and the remainder (liability); they sum to the total by construction. Both years shown provide source-reconciled actuarial assets and liability, so neither figure rests on a ratio published on its own. Source: Public Plans Database (Boston College CRR / NASRA), loaded July 2026. See our funding-change board for how this plan’s move compares with the rest of the dataset.

Historical Actuarial Funding

Year	Actuarial Ratio	Assets	Liabilities	UAAL	Members	ARC	1yr return
2024	73.2%	$548M	$749M	$200M	N/A	n/a	n/a
2023	71.6%	$531M	$742M	$211M	2,597	100.0%	n/a
2022	72.0%	$514M	$714M	$200M	2,560	100.0%	n/a
2021	67.3%	$473M	$704M	$230M	2,564	100.0%	n/a
2020	67.9%	$446M	$657M	$211M	2,521	100.0%	n/a
2019	68.1%	$437M	$642M	$205M	2,545	100.0%	n/a
2018	73.0%	$435M	$597M	$161M	2,529	100.0%	n/a
2017	75.0%	$427M	$570M	$143M	2,544	100.0%	n/a
2016	74.9%	$421M	$562M	$141M	2,550	100.0%	n/a
2015	75.3%	$414M	$549M	$136M	2,532	92.6%	n/a
2014	74.5%	$399M	$536M	$137M	2,464	91.4%	n/a
2013	72.2%	$377M	$523M	$146M	2,510	90.5%	n/a
2012	78.9%	$394M	$500M	$105M	2,498	82.3%	n/a
2011	87.0%	$411M	$473M	$61M	2,520	86.0%	n/a
2010	87.8%	$416M	$473M	$58M	2,505	92.3%	n/a
2009	77.4%	$362M	$468M	$106M	N/A	87.4%	n/a
2008	92.9%	$427M	$460M	$33M	N/A	92.3%	n/a
2007	91.1%	$388M	$425M	$37M	N/A	99.1%	n/a
2006	89.2%	$358M	$401M	$43M	N/A	123.6%	n/a
2005	90.9%	$341M	$375M	$34M	N/A	113.0%	n/a

What the Data Says About New Castle County Pension Program

New Castle County Pension Program shows a comfortably above-average funding position, 2 points below the 75.5% national average across tracked plans.

For Delaware taxpayers and plan members, the $200M source-reported actuarial unfunded liability is the 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

1,047

Active Members

1,452

Retirees

2,597

Total Members

Plan Details

Plan Type: Municipal
State: Delaware
Market Assets: $540M

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

Other Delaware Plans

Delaware Public Employees Retirement System 91.0%

All Delaware plans →

Read with this plan

Cite this page

PlainPension, “New Castle County Pension Program: Funded Ratio, Assets, and Actuarial Data.” Compiled from the Public Plans Database (PPD), compiled by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA; data as of FY2023 plan card; history through FY2024. https://plainpension.com/plan/new-castle-county-pension-program

Formal citation formats (APA / MLA)

APA: PlainPension. (2023). New Castle County Pension Program: Funded Ratio, Assets, and Actuarial Data. Retrieved September 23, 2026, from https://plainpension.com/plan/new-castle-county-pension-program

MLA: "New Castle County Pension Program: Funded Ratio, Assets, and Actuarial Data." PlainPension, 2023, https://plainpension.com/plan/new-castle-county-pension-program.

You are welcome to quote these figures with attribution to PlainPension and the underlying source. The URL above is stable. See our Terms of Use for what reuse is permitted.

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. New Castle County Pension Program ranks #169 of 190 by membership. This information is for informational purposes only and does not constitute professional advice, consult a qualified professional before acting on it. See our editorial standards & corrections policy, the typed corrections pathway, the methodology behind these numbers, or report a data error. Data current as of July 2026.

Compiled by PlainPension · July 23, 2026