Syracuse Municipal Employees Retirement System
public plan · City of Syracuse · Albany, NY
ACTIVE
D
Pension Health Score
49/100
Funding Status38% Funded
0%80% threshold100%
$3.8B
Total Assets
$10.0B
Total Liabilities
$6.3B
Unfunded Liability
13,121
Participants
Funding History
What This Means for You
Syracuse Municipal Employees Retirement System is significantly underfunded at 38%, with $6.3B in unfunded liabilities affecting 13,121 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. The PBGC has flagged this plan as critical status. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $3.8B | $10.0B | 37.5% | $130.8M |
| 2024 | $3.6B | $10.8B | 33.3% | $176.9M |
| 2023 | $3.5B | $9.5B | 37.3% | $168.0M |
| 2022 | $3.2B | $7.9B | 40.8% | $157.0M |
| 2021 | $3.1B | $12.0B | 25.7% | $123.6M |