Legislators' Guide to IPERS
Important Information for
IPERS' Plan Sponsors |
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Timeline – Where We've Been
IPERS has a long and rich history. Here’s a look back:
1950s
July 4, 1953
IPERS was founded to supplement Social Security
1954
Contributions: $14.2 million*
Contribution rate: 7%
Maximum annual taxable wage: $4,000
Benefits paid: $3.1 million*
Amount in Trust Fund: $29.3 million*
1959
Contributions: $17.4 million*
Benefits paid: $3.8 million*
Amount in Trust Fund: $92.9 million*
1960s
1965
Active members: 94,000*
Contributions: $25 million*
Retirees: 8,000*
Assets: $193.6 million*
1968
Active members: 105,000*
Maximum annual taxable wage: $7,000
Retirees and beneficiaries: 11,000*
Benefits paid: $9.3 million*
Assets: $272 million*
1970s
1972
Total membership: 120,000*
Contributions: $50 million*
Retirees and beneficiaries: 19,000*
Benefits paid: $15.5 million*
Assets: $442 million*
1976
Maximum annual taxable wage: $20,000
Contribution rate: 8.25%
1977
Contribution rate: 8.85%
1979
Contribution rate: 9.45%
Assets: $1.1 billion*
1980s
1980
Active members: 152,000*
Contributions: $151.1 million*
Retirees and beneficiaries: 33,000*
Benefits paid: $57.6 million*
1987
Active members: 128,000*
Contributions: $198.6 million*
Retirees and beneficiaries: 44,000*
Benefits paid: $128 million*
Assets: $3.5 billion*
1990s
1990
Active members: 136,000*
Contributions: $245.9 million*
Retirees and beneficiaries: 49,000*
Benefits paid: $167.9 million*
Assets: $4.7 billion*
1997
No maximum on taxable wages
1998
Active members: 149,000*
Contributions: $387.2 million*
Retirees and beneficiaries: 62,000*
Benefits paid: $402.5 million*
Assets: $13.7 billion*
2000s
2004
Contributions: $506.6 million*
Benefits paid: $792.9 million*
Assets: $17.2 billion*
2005
Active members: 160,905
Covered public employers: 2,388
Contribution rate: 9.45%
Retirees and beneficiaries: 79,604
121 retirees in the “100 and older” group drawing an IPERS benefit
Assets: $18.8 billion*
* Approximate figures |
