Pension Reform Assessment

Actuarial Valuations as of June 30, 2022 Historical Unfunded Actuarial Accrued Liability (UAAL) $ in millions $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 State Employees $1,876 ⚫Teachers $1,855 $1,920 $1,895 $1,936 $2,213 $2,239 $2,244 $2,196 $2,100 $2,032 $2,627 $2,568 $2,682 $2,655 $2,694 $3,116 $3,136 $3,128 $3,046 $2,909 $2,735 Investment Return Assumption lowered from 7.5% to 7.0% in 2017 GRS 27

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