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Receipts Total revenue increased 32.8%, from $389 billion in 2010 to $516.5 billion in 2011. The increase was driven by the rise of earnings on investments, which showed gains of $410.6 billion in 2011. Earnings on investments comprised 79.5% of total revenue, government contributions comprised 13.9%, and employee contributions accounted for the remaining 6.6% of total revenue in 2011. Government contributions increased 10.7%, from $64.8 billion in 2010 to $71.7 billion in 2011. Employee contributions increased 3%, from $33.2 billion in 2010 to $34.2 billion in 2011. Payments Covered payroll -- payments made to active employees on which contributions to a pension plan are based -- increased 0.3% from $596.2 billion in 2010 to $598 billion in 2011. Pension obligations increased 3.7%, from $3.3 trillion in 2010 to $3.4 trillion in 2011. Total payments increased 8.5%, from $174.2 billion in 2010 to $189 billion in 2011. The increase in total payments was driven by an increase in benefit payments, which comprised 93.6% of total payments in 2011. Benefit payments increased 8.2%, from $163.4 billion in 2010 to $176.8 billion in 2011. The report show statistics for individual retirement systems and for aggregate national and state levels. The structure of retirement systems varies widely among states. In some jurisdictions, state and local government employees are vested in a small number of statewide systems. The report is available here.
Receipts
Total revenue increased 32.8%, from $389 billion in 2010 to $516.5 billion in 2011. The increase was driven by the rise of earnings on investments, which showed gains of $410.6 billion in 2011. Earnings on investments comprised 79.5% of total revenue, government contributions comprised 13.9%, and employee contributions accounted for the remaining 6.6% of total revenue in 2011. Government contributions increased 10.7%, from $64.8 billion in 2010 to $71.7 billion in 2011. Employee contributions increased 3%, from $33.2 billion in 2010 to $34.2 billion in 2011.
Payments
Covered payroll -- payments made to active employees on which contributions to a pension plan are based -- increased 0.3% from $596.2 billion in 2010 to $598 billion in 2011. Pension obligations increased 3.7%, from $3.3 trillion in 2010 to $3.4 trillion in 2011. Total payments increased 8.5%, from $174.2 billion in 2010 to $189 billion in 2011. The increase in total payments was driven by an increase in benefit payments, which comprised 93.6% of total payments in 2011. Benefit payments increased 8.2%, from $163.4 billion in 2010 to $176.8 billion in 2011.
The report show statistics for individual retirement systems and for aggregate national and state levels. The structure of retirement systems varies widely among states. In some jurisdictions, state and local government employees are vested in a small number of statewide systems. The report is available here.
Jay Polanskyeditors@plansponsor.com