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Monday, April 6, 2020

Iowa reports $1,339,569 in public pension contributions

Government

By Metric Media News Service | Mar 26, 2020

Adobestock 189658368

As of June 2019, Iowa had received $1,339,569 in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $1,337,647 was in state pension funds, and the remaining $1,922 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not pay state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Iowa reported data from 12 pension systems, including 4 state-level pension funds and 8 local-level systems. The total number of pension system members was 245,679 (245,584 at the state level and 95 at the local level).

Contributions to Iowa's public pension funds
Local
State
Local & State
Employee contributions
$123
$521,251
$521,374
Government contributions
$1,799
$816,396
$818,194
State government contributions
$268
$137,656
$137,925
Local government contributions
$1,530
$678,739
$680,270
Total Contributions
$1,922
$1,337,647
$1,339,568
Source: US Census Bureau

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