Is Orange County ERS fully funded?

Orange County ERS has a source-reconciled actuarial funded ratio of 83.8% as of FY2024, earning a health grade of F. Funded ratios are reported on each plan's actuarial basis, which can smooth investment gains and losses over time. A single percentage is therefore a comparison point rather than a complete forecast.

What happens if Orange County ERS runs out of money?

The PPD records a plan's reported financial measures; it does not provide a guarantee analysis. Check the plan's official disclosures for jurisdiction-specific benefit and funding information.

What does a funded ratio of 83.8% mean?

A funded ratio of 83.8% means that Orange County ERS reported actuarial assets equal to 83.8% of its accrued liabilities at that valuation date. The source-reported actuarial unfunded liability stands at $4.57B. This is considered adequately funded.

How does Orange County ERS compare to other public pensions?

Orange County ERS is a Municipal plan in California serving 52,644 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Orange County ERS's source-reconciled actuarial funded ratio of 83.8% places it above the national average, reflecting strong fiscal management.

How many members does Orange County ERS have?

Orange County ERS covers 52,644 total members, including 22,782 active employees and 21,283 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

Orange County ERS

Orange County ERS tracked in full: funded ratio, unfunded liability, membership, and investment returns across 23 years, sourced from the Public Plans Database (Boston College CRR) and verified against actuarial valuations.

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

Actuarial funded ratio: 83.8%
Health grade: FLowest reported funded-ratio band in this dataset
Actuarial assets: $23.69B
Members: 52,644

According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Orange County ERS 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

Orange County ERS lost 10.9 points from FY2001 (94.7%) to FY2024 (83.8%) on the reconciled series.

Orange County ERS on a sliding funded path

According to the Public Plans Database, Orange County ERS lost 10.9 points on the reconciled series from FY2001 to FY2024, and now reports 83.8% (grade F).

83.8%
Actuarial funded ratio: F
Health grade: $4.57B
Actuarial unfunded liability: -10.9pp
FY2001→FY2024

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Actuarial Unfunded Liability

$4.57B

Above-median unfunded liability · source-reported UAAL

Total Members

52,644

active + retired + vested

B-

Composite Health Score

66/100

Orange County ERS

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 B-

83.8%

Actuarial assets as a share of liabilities

Contribution Discipline C+

101.9%

Share of the actuarially required contribution actually paid

Investment Returns N/A

N/A

5-year annualized investment return

Unfunded Burden B-

16.0%

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

1.2 pts funded ratio

Orange County ERS's funded ratio rose 1.2 points from FY2023 to FY2024, with assets contributing +5.8 points and the accrued liability contributing -4.6.

Funded ratio

82.6% → 83.8%

Actuarial assets

$22.14B → $23.69B (+7.0%)

Accrued liability

$26.79B → $28.26B (+5.5%)

Where the 1.2-point move came from

Assets: +5.8 pts
Accrued liability: -4.6 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	83.8%	$23.69B	$28.26B	$4.57B	N/A	n/a	n/a
2023	82.6%	$22.14B	$26.79B	$4.65B	52,644	101.9%	n/a
2022	81.5%	$20.69B	$25.39B	$4.70B	50,633	101.7%	n/a
2021	81.1%	$19.49B	$24.02B	$4.53B	49,075	102.1%	n/a
2020	76.5%	$17.53B	$22.90B	$5.38B	47,796	103.4%	n/a
2019	73.2%	$16.04B	$21.92B	$5.88B	47,197	112.1%	n/a
2018	72.4%	$14.99B	$20.70B	$5.71B	45,629	104.3%	n/a
2017	72.3%	$14.20B	$19.64B	$5.44B	44,471	106.6%	n/a
2016	73.1%	$13.10B	$17.93B	$4.83B	43,485	108.8%	n/a
2015	71.7%	$12.23B	$17.05B	$4.82B	42,426	113.6%	n/a
2014	69.8%	$11.45B	$16.41B	$4.96B	41,417	131.3%	n/a
2013	66.0%	$10.42B	$15.79B	$5.37B	40,486	100.3%	n/a
2012	62.5%	$9.47B	$15.14B	$5.68B	39,618	100.0%	n/a
2011	67.0%	$9.06B	$13.52B	$4.46B	39,116	100.0%	n/a
2010	69.8%	$8.67B	$12.43B	$3.75B	38,812	100.0%	n/a
2009	68.8%	$8.15B	$11.86B	$3.70B	38,970	100.3%	n/a
2008	71.3%	$7.75B	$10.86B	$3.11B	39,379	100.2%	n/a
2007	74.1%	$7.29B	$9.84B	$2.55B	38,685	100.0%	n/a
2006	73.8%	$6.47B	$8.77B	$2.30B	36,901	100.0%	n/a
2005	71.5%	$5.79B	$8.09B	$2.30B	35,151	100.0%	n/a

What the Data Says About Orange County ERS

Orange County ERS ranks among the better-funded plans in the database, 8 points above the 75.5% national average across tracked plans.

For California taxpayers and plan members, the $4.57B 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

22,782

Active Members

21,283

Retirees

52,644

Total Members

Plan Details

Plan Type: Municipal
State: California
Market Assets: $23.96B

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

Other California Plans

All California plans →

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Cite this page

PlainPension, “Orange County ERS: 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/orange-county-ers

Formal citation formats (APA / MLA)

APA: PlainPension. (2023). Orange County ERS: Funded Ratio, Assets, and Actuarial Data. Retrieved September 23, 2026, from https://plainpension.com/plan/orange-county-ers

MLA: "Orange County ERS: Funded Ratio, Assets, and Actuarial Data." PlainPension, 2023, https://plainpension.com/plan/orange-county-ers.

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. Orange County ERS ranks #87 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