December 8, 2023 (Des Moines, IA) - At yesterday’s quarterly meeting of its Investment Board, the Iowa Public Employees’ Retirement System (IPERS) announced that its FY2023 funded ratio equaled 89.70%, a slight increase from FY2022 when the ratio was 89.50%. IPERS’ investment program earned a 5.41% return in FY2023, below its 7.00% assumption. But higher-than-expected earnings in FY2021 pushed the FY2023 actuarial value of assets to 7.17% and created an actuarial gain of $65 million. The actuarial value of the IPERS Trust Fund equaled $41.013 billion in FY2023, up from $39.354 billion in FY2022. IPERS’ FY2023 actuarial valuation report is available on www.ipers.org. 

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