Unfunded Liability
$104.88B
actuarial shortfall
FY2023 data · Public Plans Database
Washington Department of Retirement Systems
Drawing on 23 years of Public Plans Database history (Boston College CRR), this page covers Washington Department of Retirement Systems's funded ratio, unfunded liability, member counts, and investment returns, cross-checked against actuarial valuations.
By PlainPension · · Washington · General State Plan · Data through FY2023
- Funded ratio
- 57.9%
- Health grade
- DLower reported funded ratio in this dataset
- Market assets
- $144.21B
- Members
- 650,111
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Washington Department of Retirement Systems 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
650,111
active + retired + vested
1-Year Return
6.8%
net investment return
-1.8pp vs 5-yr avg
5-Year Avg Return
8.7%
annualized, net of fees
How Washington Department of Retirement Systems Funded Ratio Compares
Plan Funded Ratio 57.9%
National avg
A ratio of 57.9% 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 | 59.6% |
| 2023 | 57.9% |
| 2022 | 56.7% |
| 2021 | 55.2% |
| 2020 | 54.1% |
| 2019 | 54.4% |
| 2018 | 55.0% |
| 2017 | 56.3% |
| 2016 | 59.5% |
| 2015 | 62.0% |
| 2014 | 62.7% |
| 2013 | 62.5% |
| 2012 | 64.7% |
| 2011 | 67.4% |
| 2010 | 65.5% |
| 2009 | 67.8% |
| 2008 | 69.3% |
| 2007 | 69.7% |
| 2006 | 69.6% |
| 2005 | 71.6% |
What the Data Says About Washington Department of Retirement Systems
Washington Department of Retirement Systems reports a funded ratio of 57.9% as of fiscal year 2023, earning a financial health grade of D in the Public Plans Database. The plan holds $144.21B in market assets against an unfunded liability of $104.88B. As a General State plan operating under Washington sponsorship, it covers 650,111 members (352,753 active contributors, 225,572 retirees drawing benefits).
Washington Department of Retirement Systems's funded ratio lands close to the middle of the national distribution, 18 points below the 75.5% national average across tracked plans. A 5-year average investment return of 8.7% factors into the plan's overall trajectory.
For Washington taxpayers and plan members, the $104.88B 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
352,753
Active Members
225,572
Retirees
650,111
Total Members
Plan Details
- Plan Type
- General State
- State
- Washington
- Market Assets
- $144.21B
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Washington Department of Retirement Systems's 57.9% funded ratio.
Frequently Asked Questions
Is Washington Department of Retirement Systems fully funded?
Washington Department of Retirement Systems has a funded ratio of 57.9% as of FY2023, earning a health grade of D. This ratio summarizes one reported funding measure. It does not substitute for a plan's actuarial valuation, financial statements, or a review of its contribution policy.
What happens if Washington Department of Retirement Systems runs out of money?
Washington Department of Retirement Systems's reported funding data can identify questions for further research. It does not establish how a sponsor will set contributions, benefits, or revenue policy.
What does a funded ratio of 57.9% mean?
A funded ratio of 57.9% means that Washington Department of Retirement Systems currently has assets equal to 57.9% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $104.88B. This level of underfunding typically requires corrective action such as increased contributions or benefit restructuring.
How does Washington Department of Retirement Systems compare to other public pensions?
Washington Department of Retirement Systems is a General State plan in Washington serving 650,111 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Washington Department of Retirement Systems's funded ratio of 57.9% places it below the national average, indicating elevated fiscal pressure.
How many members does Washington Department of Retirement Systems have?
Washington Department of Retirement Systems covers 650,111 total members, including 352,753 active employees and 225,572 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.