Actuarial Basics

 

​​ ​​

Actuarial Library

 

Search Results

No results found. Start a new search above.

 

 

Historical Reductions to the Employer Contribution Rates

Kentucky Employees Retirement System (KERS): Non-Hazardous

Fiscal YearCovered PayrollKRS Board Adopted Employer RateRecommended Dollar ContributionBudgeted Employer RateBudgeted Dollar ContributionDifference (%)Difference ($)
1992-1993
$1,079,322,020

8.66%

$93,469,287
7.65%
$82,568,135
1.01%
$10,901,152
 1993-1994
 
$1,121,481,440

8.66%

$97,120,293
7.65%
$85,793,330
1.01%
$11,326,963
1995-1996
 
$1,232,974,460

8.75%

$107,885,265
8.56%
$105,542,614
0.19%
$2,342,651
 2002-2003
 
$1,658,604,696

5.89%

$97,691,817
3.76%
$62,363,537
2.13%
$35,328,280
2003-2004
 
$1,645,412,496

7.53%

$123,899,561
5.89%
$96,914,796
1.64%
$26,984,765
2004-2005
 
$1,655,907,288

10.29%

$170,392,860
5.89%
$97,532,939
4.40%
$72,859,921

2005-2006

$1,702,230,777

13.62%

$231,843,832
5.89%
$100,261,393
7.73%
$131,582,439
 2006-2007
 
$1,780,223,493

17.13%

$304,952,284
7.75%
$137,967,321
9.38%
$166,984,964
 2007-2008
 
$1,837,873,488

48.37%*

$888,979,406
8.50%
$156,219,246
39.87%
$732,760,160

2008-2009

$1,754,412,912

28.60%**

$501,762,093
10.01%
$175,616,732
18.59%
$326,145,360

2009-2010

$1,815,146,388

31.29%**

$567,959,305
11.61%
$210,738,496
19.68%
$357,220,809

2010-2011

$1,731,632,748
38.58%
$668,063,914
16.98%
$294,031,241
21.60%
$374,032,674

2011-2012

$1,644,896,681

40.71%

$669,637,439
19.82%
$326,018,522
20.89%
$343,618,917

2012-2013

$1,644,408,698

44.55%

$732,584,075
23.61%
$388,244,894
20.94%
$344,339,181
2013-2014
$1,577,496,447

45.28%

$714,290,391
26.79%
$422,611,298
18.49%
$291,679,093
​Total KERS Non-Hazardous        $3,228,107,329

Kentucky Employees Retirement System (KERS): Hazardous

Fiscal YearCovered PayrollKRS Board Adopted Employer RateRecommended Dollar ContributionBudgeted Employer RateBudgeted Dollar ContributionDifference (%)Difference ($)

1992-1993

$68,456,508

17.55%

$12,014,117

15.05%

$10,302,704

2.50%

$1,711,413

1993-1994

$69,357,624

17.86%

$12,387,272

15.05%

$10,438,322

2.81%

$1,948,949

1995-1996

$79,514,184

18.05%

$14,352,310

17.97%

$14,288,699

0.08%

$63,611

1999-2000

$115,639,439

18.91%

$21,867,418

18.66%

$21,578,319

0.25%

$289,099

2002-2003

$129,088,956

18.84%

$24,320,359

17.60%

$22,719,656

1.24%

$1,600,703

2004-2005

$131,687,088

19.47%

$25,639,476

18.84%

$24,809,847

0.63%

$829,629

2005-2006

$138,747,320

21.59%

$29,955,546

18.84%

$26,139,995

2.75%

$3,815,551

2006-2007

$144,838,020

23.32%

$33,776,226

22.00%

$31,864,364

1.32%

$1,911,862

2007-2008
 

$148,710,060

47.11%*

$70,057,309

24.25%

$36,062,190

22.86%

$33,995,120

2008-2009

$146,043,576

34.78%

$50,793,956

24.35%

$35,561,611

10.43%

$15,232,345

2009-2010

$143,557,944

35.54%

$51,020,493

24.69%

$35,444,456

10.85%

$15,576,037

2010-2011

$133,053,792

34.37%

$45,730,588

26.12%

$34,753,650

8.25%

$10,976,938

2011-2012

$131,976,754

33.84%

$44,660,934

28.98%

$38,246,863

4.86%

$6,414,070

2012-2013

$132,015,368

35.89%

$47,380,316

29.79%

$39,327,378

6.10%

$8,052,937

2013-2014

$129,076,038

28.84%

$37,225,529

32.21%

$41,575,392

-3.37%

$4,349,862

   Total KERS Hazardous      $98,068,401 

​State Police Retirement System (SPRS)

Fiscal YearCovered PayrollKRS Board Adopted Employer RateRecommended Dollar ContributionBudgeted Employer RateBudgeted Dollar ContributionDifference (%)Difference ($)

1992-1993

$36,369,643

21.84%

$7,943,130

19.57%

$7,117,539

2.27%

$825,591

1993-1994

$36,783,743

21.84%

$8,033,569

19.57%

$7,198,579

2.27%

$834,991

1995-1996

$34,698,957

23.05%

$7,998,110

21.78%

$7,557,433

1.27%

$440,677

1999-2000
 

$43,619,383

25.26%

$11,018,256

23.41%

$10,211,298

1.85%

$806,959

2002-2003

$43,760,832

21.58%

$9,443,588

17.37%

$7,601,257

4.21%

$1,842,331

2004-2005

$43,720,092

28.08%

$12,276,602

21.58%

$9,434,796

6.50%

$2,841,806

2005-2006

$47,743,865

34.83%

$16,629,188

21.58%

$10,303,126

13.25%

$6,326,062

2006-2007

$49,247,580

42.30%

$20,831,726

25.50%

$12,558,133

16.80%

$8,273,593

2007-2008

$53,269,080

120.00%*

$63,922,896

28.00%

$14,915,342

92.00%

$49,007,554

2008-2009

$51,660,396

60.14%**

$31,068,562

30.07%

$15,534,281

30.07%

$15,534,281

2009-2010

$51,506,712

61.87%**

$31,867,203

33.08%

$17,038,420

28.79%

$14,828,782

2010-2011

$48,692,616

85.63%

$41,695,487

45.54%

$22,174,617

40.09%

$19,520,870

2011-2012

$48,372,506

94.63%

$45,774,902

52.13%

$25,216,587

42.50%

$20,558,315

2012-2013

$45,256,202

103.41%

$46,799,438

63.67%

$28,814,624

39.74%

$17,984,815

2013-2014

$44,615,885

96.52%

$43,063,252

71.15%

$31,744,202

25.37%

$11,319,050

 

 Total SPRS       $170,945,676 

Total KERS & SPRS    $3,497,121,406

 
​​