The Arizona Public Safety Personnel Retirement System, with an assets-to-liabilities ratio of 46 percent, has enough money on hand to pay beneficiaries for 9.6 years, according to a new ranking of public retirement funds from the Wirepoints website.

The retirement system ranked 29th on a list of 148 state and local retirement funds nationwide with at least $2 billion in assets, the website reported. The list, which includes pension systems in every state except Vermont, lists pension funds from fiscally weakest to strongest.

The Arizona Public Safety Personnel Retirement System has plan assets of $7.45 billion and yearly payouts to beneficiaries of $770 million. The numbers are based on 2018 data, the most recent year for available data, according to Wirepoints, a website that focuses on economic commentary and Illinois government research.

Some of the weakest funds will see their declines accelerated by the Covid-19 crisis as a result of the stock market’s recent plunges, according to Wirepoints. Even before the coronavirus pandemic, the nation’s public pension funds had shortfalls amounting to $5 trillion in 2018, the study says.

The states with the worst-off pension funds are Kentucky, Illinois, New Jersey and Connecticut, according to Wirepoints. Pennsylvania, South Dakota, Washington and the District of Columbia have some of the healthiest retirement systems, the study found.

---

State and Local Pension Fund Ranking, From Weakest to Strongest

Plan NameStateFunded RatioPlan Assets (in Billions of Dollars)Annual Benefit Payout (in Billions of Dollars)Asset-to-Payout RatioRank (Weakest to Strongest)
Kentucky ERSKentucky16%$2.66$1.032.61
Chicago PoliceIllinois22%$3.15$0.754.12
New Jersey TeachersNew Jersey26%$26.31$4.356.14
Philadelphia MunicipalPennsylvania48%$5.40$0.826.65
Indiana TeachersIndiana45%$9.20$1.396.66
Connecticut SERSConnecticut37%$12.99$1.956.77
Dallas Police and FireTexas45%$2.16$0.297.39
Rhode Island ERSRhode Island54%$6.33$0.837.610
South Carolina RSSouth Carolina54%$27.03$3.457.812
Detroit General RSMichigan71%$2.04$0.248.516
Colorado StateColorado55%$14.30$1.618.919
Missouri DOT and HighwayMissouri58%$2.27$0.268.920
Massachusetts TeachersMassachusetts55%$27.06$2.999.022
West Virginia TeachersWest Virginia71%$7.50$0.819.324
Louisiana SERSLouisiana64%$12.36$1.329.425
Georgia ERSGeorgia77%$13.41$1.419.526
Arizona Public SafetyArizona46%$7.45$0.779.629
New York City FireNew York63%$13.27$1.3110.132
Ohio TeachersOhio77%$73.12$7.0510.435
Mississippi PERSMississippi63%$27.46$2.6110.538
Alabama ERSAlabama71%$12.24$1.1410.739
Baltimore Fire and PoliceMaryland69%$2.71$0.2411.145
Kansas PERSKansas69%$19.25$1.6911.449
Jacksonville ERSFlorida63%$2.02$0.1811.552
Montana TeachersMontana69%$4.09$0.3511.653
New Hampshire RSNew Hampshire65%$8.71$0.7411.754
Alaska PERSAlaska65%$9.43$0.8011.855
Hawaii ERSHawaii55%$16.51$1.4011.857
Minnesota TeachersMinnesota75%$22.02$1.8212.158
Oklahoma TeachersOklahoma73%$16.49$1.3612.159
New Mexico EducationalNew Mexico52%$13.00$1.0712.261
North Dakota TeachersNorth Dakota66%$2.53$0.2012.565
California TeachersCalifornia71%$190.45$14.2713.369
Wyoming Public EmployeesWyoming69%$7.32$0.5513.470
Milwaukee City ERSWisconsin79%$5.22$0.3913.471
Fairfax County ERSVirginia70%$4.07$0.3013.775
Delaware State EmployeesDelaware87%$8.95$0.6214.482
Maine State and TeacherMaine83%$11.42$0.7914.485
Arkansas TeachersArkansas83%$16.76$1.1614.486
Seattle ERSWashington64%$2.76$0.1914.587
Oregon PERSOregon82%$67.33$4.6414.588
Iowa Municipal Fire and PoliceIowa81%$2.58$0.1715.292
North Carolina Teachers & StateNorth Carolina88%$69.57$4.5515.393
Nevada PERSNevada75%$32.04$1.9316.6108
Idaho PERSIdaho92%$16.27$0.9117.9117
Tennessee State and TeachersTennessee98%$37.61$2.1017.9118
Utah NoncontributoryUtah85%$25.18$1.3219.1128
Nebraska SchoolsNebraska90%$11.55$0.5720.2135
South Dakota RSSouth Dakota100%$12.24$0.5422.6140
DC TeachersWashington, D.C.96%$2.14$0.0827.3143

Source: Wirepoints.org