FY2023 data · Public Plans Database

Sioux Falls ERS

The Public Plans Database's 23-year record for Sioux Falls ERS: funded ratio, unfunded liability, member counts, and investment returns, compiled by Boston College CRR and cross-checked against actuarial valuations.

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By · · South Dakota · General State Plan · Data through FY2023

Funded Ratio: 68.8% (Under-funded) Sioux Falls ERS funded ratio compared to national public pension benchmark. FUNDED RATIO 68.8% Under-funded Nat'l avg 75.49869791666667% 0% 60 70 80 100% Healthy > 80% · At-risk 70-80% · Critical < 60%
Sioux Falls ERS funded ratio is 68.8 percent, classified as Under-funded. National public-pension benchmark is 75.49869791666667 percent.
Funded ratio
68.8%
Health grade
CReported funded ratio below full funding
Market assets
$583M
Members
1,296

According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Sioux Falls ERS 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.

Unfunded Liability

$264M

actuarial shortfall

Total Members

1,296

active + retired + vested

1-Year Return

13.1%

net investment return

8.3pp vs 5-yr avg

5-Year Avg Return

4.8%

annualized, net of fees

How Sioux Falls ERS 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

Participants: 423 active, 783 retired, 0 separated Plan participant breakdown showing active workers, retirees, and separated-vested members. PARTICIPANT MIX 1.3K total members 33% 60% Active 423 Retired 783 Separated 0 Active-to-Retiree 0.54 · Mature / At Risk
Plan participant breakdown: 423 active workers, 783 retirees, 0 separated-vested members. Sustainability rating: Mature / At Risk.

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

Asset Allocation: 55% equity, 25% fixed income, 17% alternatives Sioux Falls ERS investment policy mix as reported in its CAFR and actuarial valuation. ASSET ALLOCATION $583M market assets · CAFR / actuarial valuation 55% 25% 17% Equity 55.0% Fixed Inc. 25.0% Alternatives 17.0% Cash 3.0% Investment Stance: Growth-Tilted · Equity + Alts 72%
Sioux Falls ERS asset allocation: 55% equity, 25% fixed income, 17% alternatives, 3% cash. Investment stance: Growth-Tilted.

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 N/A
2023 68.8%
2022 68.7%
2021 66.2%
2020 61.2%
2019 61.5%
2018 59.4%
2017 57.6%
2016 51.1%
2015 48.5%
2014 45.9%
2013 42.6%
2012 51.0%
2011 41.9%
2010 N/A
2009 N/A
2008 N/A
2007 N/A
2006 N/A
2005 N/A

What the Data Says About Sioux Falls ERS

Sioux Falls ERS 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 $583M in market assets against an unfunded liability of $264M. As a General State plan operating under South Dakota sponsorship, it covers 1,296 members (423 active contributors, 783 retirees drawing benefits).

Sioux Falls ERS 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 4.8% factors into the plan's overall trajectory.

For South Dakota taxpayers and plan members, the $264M 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

423
Active Members
783
Retirees
1,296
Total Members

Plan Details

Plan Type
General State
State
South Dakota
Market Assets
$583M
Source: Public Plans Database (PPD)
Boston College CRR / NASRA

Plans With a Similar Funded Ratio

The closest plans nationwide to Sioux Falls ERS's 68.8% funded ratio.

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Pension Guides

Frequently Asked Questions

Is Sioux Falls ERS fully funded?

Sioux Falls ERS 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 Sioux Falls ERS runs out of money?

A public plan's reported ratio is only one part of its financial picture. PlainPension does not predict actions by Sioux Falls ERS, South Dakota, or any public body.

What does a funded ratio of 68.8% mean?

A funded ratio of 68.8% means that Sioux Falls ERS currently has assets equal to 68.8% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $264M. This represents a moderate funding gap that requires ongoing monitoring.

How does Sioux Falls ERS compare to other public pensions?

Sioux Falls ERS is a General State plan in South Dakota serving 1,296 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Sioux Falls ERS's funded ratio of 68.8% places it near the national average.

How many members does Sioux Falls ERS have?

Sioux Falls ERS covers 1,296 total members, including 423 active employees and 783 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.

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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 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.