California
Pension Tracker

Joe Nation, Ph.D.

Project Director
Stanford Institute for
Economic Policy Research

The Bottom 25% (Lowest quartile) indicates relatively lower unfunded liabilities. The Top 25% (Highest quartile) indicates relatively higher unfunded liabilities. Metrics reflect the Fiscal Year selected. Agencies reported as NA or agencies for which we do not have geographic locations are excluded from calculations. See Glossary for additional information.

Data reflect Fiscal Year (FY) 2015, the most recent available.

City of San Francisco, All Plans, Including POB

PDF Excel Excel
Plan : From year: to
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable 2013 2014 2015
POB Liability NA NA NA
Market Liability NA $35,087,690,231 $40,405,051,636
Actuarial Liability $20,224,800,000 $21,122,567,000 $22,970,900,000
Value of Assets $17,011,500,000 $21,212,852,000 $20,428,100,000
Market Pension Debt NA $13,874,838,231 $19,976,951,636
Actuarial Pension Debt $3,213,300,000 $-90,285,000 $2,542,800,000
Discount Rate for Market Liability NA 3.750% 3.250%
  • Variable

    Market Liability


    • 2015

      $40,405,051,636

    • 2014

      $35,087,690,231

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Liability


    • 2015

      $22,970,900,000

    • 2014

      $21,122,567,000

    • 2013

      $20,224,800,000

    • 2012

      $19,393,900,000

    • 2011

      $18,598,700,000

    • 2010

      $17,643,400,000

    • 2009

      $16,498,600,000

    • 2008

      $15,358,800,000

  • Variable

    Value of Assets


    • 2015

      $20,428,100,000

    • 2014

      $21,212,852,000

    • 2013

      $17,011,500,000

    • 2012

      $15,293,700,000

    • 2011

      $15,598,800,000

    • 2010

      $13,136,700,000

    • 2009

      $11,924,500,000

    • 2008

      $15,833,300,000

  • Variable

    Market Pension Debt


    • 2015

      $19,976,951,636

    • 2014

      $13,874,838,231

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt


    • 2015

      $2,542,800,000

    • 2014

      $-90,285,000

    • 2013

      $3,213,300,000

    • 2012

      $4,100,200,000

    • 2011

      $2,999,900,000

    • 2010

      $4,506,700,000

    • 2009

      $4,574,100,000

    • 2008

      $-474,500,000

  • Variable

    Discount Rate for Market Liability


    • 2015

      3.250%

    • 2014

      3.750%

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

*Recommended not to combine dollar and other categories.

Funded Ratios

Variable 2013 2014 2015
Market Funded Ratio NA 60.5% 50.6%
Actuarial Funded Ratio 84.1% 100.4% 88.9%
  • Variable

    Market Funded Ratio


    • 2015

      50.6%

    • 2014

      60.5%

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Funded Ratio


    • 2015

      88.9%

    • 2014

      100.4%

    • 2013

      84.1%

    • 2012

      78.9%

    • 2011

      83.9%

    • 2010

      74.5%

    • 2009

      72.3%

    • 2008

      103.1%

*Recommended not to combine dollar and other categories.

Contributions

Variable 2013 2014 2015
Employer Total Contribution (%) 20.710% 24.820% 22.800%
Employer Normal Cost Contribution (%) 10.390% 17.910% 11.290%
Employer Other Contribution (%) 9.870% 7.880% 11.510%
Employer Total Pension Contribution ($) $488,841,532 $629,426 $64,318,800
Employer Normal Cost Contribution ($) $245,246,911 $454,191 $31,849,090
Employer Other Contribution ($) $232,972,763 $199,834 $32,469,710
Employee Contribution (%) 7.510% NA 7.540%
Employee Contribution ($) $177,267,016 NA $21,270,340
Payroll $2,360,413,000 $2,535,963 $282,100,000
  • Variable

    Employer Total Contribution (%)


    • 2015

      22.800%

    • 2014

      24.820%

    • 2013

      20.710%

    • 2012

      18.090%

    • 2011

      13.560%

    • 2010

      9.490%

    • 2009

      4.990%

    • 2008

      5.910%

  • Variable

    Employer Normal Cost Contribution (%)


    • 2015

      11.290%

    • 2014

      17.910%

    • 2013

      10.390%

    • 2012

      10.400%

    • 2011

      10.670%

    • 2010

      10.660%

    • 2009

      8.670%

    • 2008

      9.090%

  • Variable

    Employer Other Contribution (%)


    • 2015

      11.510%

    • 2014

      7.880%

    • 2013

      9.870%

    • 2012

      7.240%

    • 2011

      2.440%

    • 2010

      -1.620%

    • 2009

      -4.130%

    • 2008

      -3.630%

  • Variable

    Employer Total Pension Contribution ($)


    • 2015

      $64,318,800

    • 2014

      $629,426

    • 2013

      $488,841,532

    • 2012

      $433,947,087

    • 2011

      $345,093,772

    • 2010

      $233,187,918

    • 2009

      $118,573,428

    • 2008

      $127,730,525

  • Variable

    Employer Normal Cost Contribution ($)


    • 2015

      $31,849,090

    • 2014

      $454,191

    • 2013

      $245,246,911

    • 2012

      $249,477,596

    • 2011

      $271,545,026

    • 2010

      $261,937,114

    • 2009

      $206,018,361

    • 2008

      $196,458,625

  • Variable

    Employer Other Contribution ($)


    • 2015

      $32,469,710

    • 2014

      $199,834

    • 2013

      $232,972,763

    • 2012

      $173,674,788

    • 2011

      $62,096,520

    • 2010

      $-39,806,578

    • 2009

      $-98,137,927

    • 2008

      $-78,453,774

  • Variable

    Employee Contribution (%)


    • 2015

      7.540%

    • 2014

      NA

    • 2013

      7.510%

    • 2012

      7.500%

    • 2011

      7.510%

    • 2010

      7.500%

    • 2009

      4.130%

    • 2008

      7.510%

  • Variable

    Employee Contribution ($)


    • 2015

      $21,270,340

    • 2014

      NA

    • 2013

      $177,267,016

    • 2012

      $179,911,728

    • 2011

      $191,124,943

    • 2010

      $184,289,714

    • 2009

      $98,137,927

    • 2008

      $162,310,701

  • Variable

    Payroll


    • 2015

      $282,100,000

    • 2014

      $2,535,963

    • 2013

      $2,360,413,000

    • 2012

      $2,398,823,037

    • 2011

      $2,544,939,324

    • 2010

      $2,457,196,188

    • 2009

      $2,376,221,000

    • 2008

      $2,161,261,000

*Recommended not to combine dollar and other categories.

Benefit Levels

Variable 2013 2014 2015  
Benefit Formula 1.5@55(M):2.5@55(S) 2.3%@62(M); 3.0%@55(S) NA  
Final Compensation Period 1 (General Tier 2) 1 (Safety Tier 2) 1 to 3 1; 3  
COLA (%) 2 NA NA  
Sick Leave Credit NA N N  
  • Variable

    Benefit Formula


    • 2015

      NA

    • 2014

      2.3%@62(M); 3.0%@55(S)

    • 2013

      1.5@55(M):2.5@55(S)

    • 2012

      1.5@55(M):2.5@55(S)

    • 2011

      1.5@55(M):2.5@55(S)

    • 2010

      1.5@55(M):2.5@55(S)

    • 2009

      1.5@55(M):2.5@55(S)

    • 2008

      1.5@55(M):2.5@55(S)

  • Variable

    Final Compensation Period


    • 2015

      1; 3

    • 2014

      1 to 3

    • 2013

      1 (General Tier 2) 1 (Safety Tier 2)

    • 2012

      1 (General Tier 2) 1 (Safety Tier 2)

    • 2011

      1 (General Tier 2) 1 (Safety Tier 2)

    • 2010

      1 (General Tier 2) 1 (Safety Tier 2)

    • 2009

      1 (General Tier 2) 1 (Safety Tier 2)

    • 2008

      1 (General Tier 2) 1 (Safety Tier 2)

  • Variable

    COLA (%)


    • 2015

      NA

    • 2014

      NA

    • 2013

      2

    • 2012

      2

    • 2011

      2

    • 2010

      2

    • 2009

      3

    • 2008

      3

  • Variable

    Sick Leave Credit


    • 2015

      N

    • 2014

      N

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

Employee and Retiree Demographics

Variable 2013 2014 2015
Active Members 28,717 27,235 30,387
Retired Members 26,034 26,852 27,485
Retired/Active Ratio 0.91 0.99 0.90
Average Annual Pay, Active Members $85,296 $86,016 $91,500
Average Annual Benefits, Retired Members and Beneficiaries $40,164 $49,116 $42,528
Average Attained Age, Retired Members and Beneficiaries 70.7 NA 70.9
  • Variable

    Active Members


    • 2015

      30,387

    • 2014

      27,235

    • 2013

      28,717

    • 2012

      28,097

    • 2011

      27,955

    • 2010

      28,222

    • 2009

      29,919

    • 2008

      30,650

  • Variable

    Retired Members


    • 2015

      27,485

    • 2014

      26,852

    • 2013

      26,034

    • 2012

      25,190

    • 2011

      24,292

    • 2010

      23,500

    • 2009

      22,294

    • 2008

      21,514

  • Variable

    Retired/Active Ratio


    • 2015

      0.90

    • 2014

      0.99

    • 2013

      0.91

    • 2012

      0.90

    • 2011

      0.87

    • 2010

      0.83

    • 2009

      0.75

    • 2008

      0.70

  • Variable

    Average Annual Pay, Active Members


    • 2015

      $91,500

    • 2014

      $86,016

    • 2013

      $85,296

    • 2012

      $83,712

    • 2011

      $80,964

    • 2010

      $82,044

    • 2009

      $84,828

    • 2008

      $80,172

  • Variable

    Average Annual Benefits, Retired Members and Beneficiaries


    • 2015

      $42,528

    • 2014

      $49,116

    • 2013

      $40,164

    • 2012

      $39,000

    • 2011

      $37,260

    • 2010

      $35,508

    • 2009

      $33,864

    • 2008

      $32,160

  • Variable

    Average Attained Age, Retired Members and Beneficiaries


    • 2015

      70.9

    • 2014

      NA

    • 2013

      70.7

    • 2012

      70.5

    • 2011

      70.6

    • 2010

      70.6

    • 2009

      70.7

    • 2008

      70.8

*Recommended not to combine dollar and other categories.

Agency Expenditure & Revenue

Variable 2013 2014 2015
Total Expenditures $10,052,344,813 $10,315,941,202 $10,143,617,882
Operating Expenditures $7,066,309,615 $7,308,207,296 $7,001,799,365
Total Revenues $9,641,736,289 $10,136,926,506 $10,151,614,022
Tax Revenues $2,865,442,603 $2,619,181,560 $3,408,986,735
  • Variable

    Total Expenditures


    • 2015

      $10,143,617,882

    • 2014

      $10,315,941,202

    • 2013

      $10,052,344,813

    • 2012

      $8,928,871,537

    • 2011

      $8,368,949,109

    • 2010

      $7,977,684,221

    • 2009

      $7,480,724,411

    • 2008

      $7,176,649,580

  • Variable

    Operating Expenditures


    • 2015

      $7,001,799,365

    • 2014

      $7,308,207,296

    • 2013

      $7,066,309,615

    • 2012

      $6,414,959,977

    • 2011

      $5,963,363,652

    • 2010

      $5,911,141,104

    • 2009

      $5,859,970,389

    • 2008

      $5,809,456,271

  • Variable

    Total Revenues


    • 2015

      $10,151,614,022

    • 2014

      $10,136,926,506

    • 2013

      $9,641,736,289

    • 2012

      $9,395,077,573

    • 2011

      $8,527,657,110

    • 2010

      $9,630,491,243

    • 2009

      $6,525,023,110

    • 2008

      $6,309,298,572

  • Variable

    Tax Revenues


    • 2015

      $3,408,986,735

    • 2014

      $2,619,181,560

    • 2013

      $2,865,442,603

    • 2012

      $2,676,071,925

    • 2011

      $2,525,067,164

    • 2010

      $2,324,583,914

    • 2009

      $2,312,430,240

    • 2008

      $2,306,930,275

*Recommended not to combine dollar and other categories.

Agency Demographics

Variable 2013 2014 2015
Population 846,626 852,537 864,816
Households NA 354,784 358,000
  • Variable

    Population


    • 2015

      864,816

    • 2014

      852,537

    • 2013

      846,626

    • 2012

      835,116

    • 2011

      822,874

    • 2010

      811,022

    • 2009

      803,868

    • 2008

      796,537

  • Variable

    Households


    • 2015

      358,000

    • 2014

      354,784

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable 2013 2014 2015
Market Pension Debt
Market Pension Debt/Household NA $39,108 $55,802
Market Pension Debt/Capita NA $16,275 $23,100
Market Pension Debt/Total Expenditures NA 1.34 1.97
Market Pension Debt/Operating Expenditures NA 1.90 2.85
Market Pension Debt/Payroll NA 5,471.23 70.82
Market Pension Debt/Employer Total Pension Contributions NA 22,043.64 310.59
Market Pension Debt/Total Revenues NA 1.37 1.97
Market Pension Debt/Tax Revenues NA 5.30 5.86
Actuarial Pension Debt
Actuarial Pension Debt/Household NA $-254 $7,103
Actuarial Pension Debt/Capita $3,795 $-106 $2,940
Actuarial Pension Debt/Total Expenditures 0.32 -0.01 0.25
Actuarial Pension Debt/Operating Expenditures 0.45 -0.01 0.36
Actuarial Pension Debt/Payroll 1.36 -35.60 9.01
Actuarial Pension Debt/Employer Total Pension Contribution 6.57 -143.44 39.53
Actuarial Pension Debt/Total Revenues 0.33 -0.01 0.25
Actuarial Pension Debt/Tax Revenues 1.12 -0.03 0.75
Employer Total Pension Contribution
Employer Total Pension Contribution ($)/Total Expenditures 4.9% 0.0% 0.6%
Employer Total Pension Contribution ($)/Operating Expenditures 6.9% 0.0% 0.9%
Employer Total Pension Contribution ($)/Total Revenues 5.1% 0.0% 0.6%
Employer Total Pension Contribution ($)/Tax Revenues 17.1% 0.0% 1.9%
  • Variable

    Market Pension Debt/Household


    • 2015

      $55,802

    • 2014

      $39,108

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Capita


    • 2015

      $23,100

    • 2014

      $16,275

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Total Expenditures


    • 2015

      1.97

    • 2014

      1.34

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Operating Expenditures


    • 2015

      2.85

    • 2014

      1.90

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Payroll


    • 2015

      70.82

    • 2014

      5,471.23

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Employer Total Pension Contributions


    • 2015

      310.59

    • 2014

      22,043.64

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Total Revenues


    • 2015

      1.97

    • 2014

      1.37

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Market Pension Debt/Tax Revenues


    • 2015

      5.86

    • 2014

      5.30

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt/Household


    • 2015

      $7,103

    • 2014

      $-254

    • 2013

      NA

    • 2012

      NA

    • 2011

      NA

    • 2010

      NA

    • 2009

      NA

    • 2008

      NA

  • Variable

    Actuarial Pension Debt/Capita


    • 2015

      $2,940

    • 2014

      $-106

    • 2013

      $3,795

    • 2012

      $4,910

    • 2011

      $3,646

    • 2010

      $5,557

    • 2009

      $5,690

    • 2008

      $-596

  • Variable

    Actuarial Pension Debt/Total Expenditures


    • 2015

      0.25

    • 2014

      -0.01

    • 2013

      0.32

    • 2012

      0.46

    • 2011

      0.36

    • 2010

      0.56

    • 2009

      0.61

    • 2008

      -0.07

  • Variable

    Actuarial Pension Debt/Operating Expenditures


    • 2015

      0.36

    • 2014

      -0.01

    • 2013

      0.45

    • 2012

      0.64

    • 2011

      0.50

    • 2010

      0.76

    • 2009

      0.78

    • 2008

      -0.08

  • Variable

    Actuarial Pension Debt/Payroll


    • 2015

      9.01

    • 2014

      -35.60

    • 2013

      1.36

    • 2012

      1.71

    • 2011

      1.18

    • 2010

      1.83

    • 2009

      1.92

    • 2008

      -0.22

  • Variable

    Actuarial Pension Debt/Employer Total Pension Contribution


    • 2015

      39.53

    • 2014

      -143.44

    • 2013

      6.57

    • 2012

      9.45

    • 2011

      8.69

    • 2010

      19.33

    • 2009

      38.58

    • 2008

      -3.71

  • Variable

    Actuarial Pension Debt/Total Revenues


    • 2015

      0.25

    • 2014

      -0.01

    • 2013

      0.33

    • 2012

      0.44

    • 2011

      0.35

    • 2010

      0.47

    • 2009

      0.70

    • 2008

      -0.08

  • Variable

    Actuarial Pension Debt/Tax Revenues


    • 2015

      0.75

    • 2014

      -0.03

    • 2013

      1.12

    • 2012

      1.53

    • 2011

      1.19

    • 2010

      1.94

    • 2009

      1.98

    • 2008

      -0.21

  • Variable

    Employer Total Pension Contribution ($)/Total Expenditures


    • 2015

      0.6%

    • 2014

      0.0%

    • 2013

      4.9%

    • 2012

      4.9%

    • 2011

      4.1%

    • 2010

      2.9%

    • 2009

      1.6%

    • 2008

      1.8%

  • Variable

    Employer Total Pension Contribution ($)/Operating Expenditures


    • 2015

      0.9%

    • 2014

      0.0%

    • 2013

      6.9%

    • 2012

      6.8%

    • 2011

      5.8%

    • 2010

      3.9%

    • 2009

      2.0%

    • 2008

      2.2%

  • Variable

    Employer Total Pension Contribution ($)/Total Revenues


    • 2015

      0.6%

    • 2014

      0.0%

    • 2013

      5.1%

    • 2012

      4.6%

    • 2011

      4.0%

    • 2010

      2.4%

    • 2009

      1.8%

    • 2008

      2.0%

  • Variable

    Employer Total Pension Contribution ($)/Tax Revenues


    • 2015

      1.9%

    • 2014

      0.0%

    • 2013

      17.1%

    • 2012

      16.2%

    • 2011

      13.7%

    • 2010

      10.0%

    • 2009

      5.1%

    • 2008

      5.5%

*Recommended not to combine dollar and other categories.

Pension Tracker

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Stanford, CA  94305-6050
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