PSRS/PEERS Receive National Public Pension Standards Awards for 14th Year in a Row

PSRS and PEERS received the Public Pension Coordinating Council's (PPCC) 2018 Public Pension Standards Awards for meeting professional standards in plan administration and funding.

PSRS has received the awards each year since 2004, and PEERS each year since 2005. Once again this year, both Systems not only met, but also substantially exceeded the requirements for both the plan funding and administration awards.

Public Pension Coordinating Council Award for Funding and Administration 2018

"We are honored to be recognized for our efforts to provide the best possible pension plans for our members," said PSRS/PEERS Executive Director Steve Yoakum. "The principles and standards used by the PPCC when considering plans for these awards align with our organizational goals for providing outstanding member service and retirement security."

To receive the Recognition Award for Administration, a retirement system must certify that it meets the requirements in five areas of assessment. Those areas are:

To receive the Recognition Award for Funding, a retirement system must certify that it meets the requirements for funding adequacy, as defined as meeting one or more of the following criteria:

The PPCC is a coalition of three national associations that represent retirement systems and administrators. Combined, these associations serve retirement systems that provide pension coverage for most of the nation's employees of state and local government.

They are:

The Public Pension Standards reflect minimum expectations for public retirement systems management and administration, and serve as a benchmark by which all defined benefit public pension plans should be measured.