Skip to main content

VSERS Pension and System Reports

PLEASE NOTE: Investment Performance Analysis Reports after December 2021 can be found on the Vermont Pension Investment Commission Webpage. 

Investment Performance Analysis

The Investment Performance Analysis provides a thorough analysis of the State Employee Pension Fund. The report covers the overall fund, as well as the individual portfolios that comprise the fund. The analysis looks at criteria such as: asset growth, asset allocation, performance, rates of return, market cycle performance comparison, risk, return vs. risk, turnover, diversification, and holdings.

Complete Reports

2021 December: Fourth Calendar Quarter
2021 September: Third Calendar Quarter
2021 June: Second Calendar Quarter
2021 March: First Calendar Quarter
2020 December: Fourth Calendar Quarter
2020 September: Third Calendar Quarter
2020 June: Second Calendar Quarter
2020 March: First Calendar Quarter
2019 December: Fourth Calendar Quarter
2019 September: Third Calendar Quarter
2019 June: Second Calendar Quarter
2019 March: First Calendar Quarter (Revised)
2018 December: Fourth Calendar Quarter (Revised)
2018 September: Third Calendar Quarter (Revised)
2018 June: Second Calendar Quarter (Revised)
2018 March: First Calendar Quarter (Revised)
2017 December: Fourth Calendar Quarter
2017 September: Third Calendar Quarter
2017 June: Second Calendar Quarter
2017 March: First Calendar Quarter
2016 December: Fourth Calendar Quarter
2016 September: Third Quarter
2016 June: Second Quarter
2016 March: First Quarter
2015 December: Fourth Quarter
2015 September: Third Quarter
2015 June: Second Quarter
2015 March: First Quarter
2014 December: Fourth Quarter
2014 September: Third Quarter
2014 June: Second Quarter
2014 March: First Quarter
2013 December: Fourth Quarter
2013 September: Third Quarter
2013 June: Second Quarter
2013 March: First Quarter
2012 December: Fourth Quarter
2012 September: Third Quarter
2012 June: Second Quarter
2012 March: First Quarter
2011 December: Fourth Quarter
2011 September: Third Quarter
2011 June: Second Quarter
2011 March: First Quarter
2010 December: Fourth Quarter
2010 September: Third Quarter
2010 June: Second Quarter
2010 March: First Quarter
2009 December: Fourth Quarter
2009 September: Third Quarter
2009 June: Second Quarter
2009 March: First Quarter
2008 December: Fourth Quarter
2008 September: Third Quarter
2008 June: Second Quarter
2008 March: First Quarter
2007 December: Fourth Quarter
2007 September: Third Quarter
2007 June: Second Quarter
2007 March: First Quarter
2006 December: Fourth Quarter
2006 September: Third Quarter
2006 June: Second Quarter
2006 March: First Quarter
2005 December: Fourth Quarter
2005 September: Third Quarter
2005 June: Second Quarter
2005 March: First Quarter

Financial Snapshots

June 2019 will be the last snapshot report produced.  For more recent reports please see the complete reports section above.

2019 June: Second Calendar Quarter
2019 March: First Calendar Quarter (Revised)
2018 December: Fourth Calendar Quarter (Revised) 
2018 September: Third Calendar Quarter (Revised)
2018 June: Second Calendar Quarter (Revised)
2018 March: First Calendar Quarter (Revised) 
2017 December: Fourth Calendar Quarter
2017 September: Third Calendar Quarter
2017 June: Second Calendar Quarter
2017 March: First Calendar Quarter
2016 December: Fourth Calendar Quarter
2016 September: Third Quarter
2016 June: Second Quarter
2016 March: First Quarter
2015 December: Fourth Quarter
2015 September: Third Quarter
2015 June: Second Quarter
2015 March: First Quarter
2014 December: Fourth Quarter
2014 September: Third Quarter
2014 June: Second Quarter
2014 March: First Quarter
2013 December: Fourth Quarter
2013 September: Third Quarter
2013 June: Second Quarter
2013 March: First Quarter
2012 December: Fourth Quarter
2012 September: Third Quarter
2012 June: Second Quarter
2012 March: First Quarter
2011 December: Fourth Quarter
2011 September: Third Quarter
2011 June: Second Quarter
2011 March: First Quarter
2010 December: Fourth Quarter
2010 September: Third Quarter
2010 June: Second Quarter
2010 March: First Quarter
2009 December: Fourth Quarter
2009 September: Third Quarter
2009 June: Second Quarter
2009 March: First Quarter
2008 December: Fourth Quarter
2008 September: Third Quarter
2008 June: Second Quarter
2008 March: First Quarter
2007 December: Fourth Quarter
2007 September: Third Quarter
2007 June: Second Quarter
2007 March: First Quarter
2006 December: Fourth Quarter
2006 September: Third Quarter
2006 June: Second Quarter
2006 March: First Quarter
2005 December: Fourth Quarter
2005 September: Third Quarter
2005 June: Second Quarter
2005 March: First Quarter

Actuarial Valuation

Vermont Statutes Annotated, Title 3, Chapter 16, Section 471, Subsection (k) requires that an approved actuary make an annual valuation of the System's assets and liabilities. The purpose of the actuarial valuation is to determine the financial condition of the retirement fund and the required state contribution to the System. The System's consulting actuary also does other special studies related to new or proposed legislation.

2023 GASB No. 67 Report (accounting)

2023 Actuarial Valuation (funding)

2023 GASB No. 68 Report

2022 GASB No. 67 Report (accounting)
2022 Actuarial Valuation (funding)
2022 GASB No. 68 Report
2021 GASB No. 67 Report (accounting)
2021 Actuarial Valuation (funding)
2021 GASB No. 68 Report
2020 GASB No. 67 Report (accounting)
2020 Actuarial Valuation (funding)
2020 GASB No. 68 Report
2019 GASB No. 67 Report (accounting)
2019 Actuarial Valuation (funding)
2019 GASB No. 68 Report
2018 Actuarial Valuation (funding)
2018 GASB No. 68 Report
2018 GASB No. 67 Report (accounting)
2017 Actuarial Valuation (funding)
2017 GASB No. 67 Report (accounting)
2017 GASB No. 68 Report
2016 Actuarial Valuation (funding)
2016 GASB No. 67 Report (accounting)
2016 GASB No. 68 Report
2015 Actuarial Report (funding)
2015 GASB No. 67 Report (accounting)
2015 GASB No. 68 Report
2014 Actuarial Report (funding)
2014 GASB No. 67 Report (accounting)
2013 Actuarial Report
2012 Actuarial Report
2011 Actuarial Report
2010 Actuarial Report
2009 Actuarial Report
2008 Actuarial Report
2007 Actuarial Report
2006 Actuarial Report
2005 Actuarial Report
2004 Actuarial Report
2003 Actuarial Report
2002 Actuarial Report
2001 Actuarial Report

Other Reports

2023 Post Retirement GASB No. 74 Report

2023 VSERS Experience Study

2023 GASB No. 75 Report

2022 Post Retirement GASB No. 74 Report
2022 GASB No. 75 Report
2021 Post Retirement GASB No. 74 Report
2021 GASB No. 75 Report
2020 Post Retirement GASB No. 74 Report
2020 VSERS Experience Study
2020 Investment Rate of Return Report
2020 GASB No. 75 Report
Vermont Retirement Systems' Risk Assessment
2019 Post Retirement GASB No. 74 Report
2019 GASB No. 75 Report
2018 Post Retirement Benefits Analysis
2018 Post Retirement GASB No. 74 Report
2018 GASB No. 75 Report
2017 Post Retirement Benefits Analysis
2017 Post Retirement GASB No. 74 Report
2016 Post Retirement Benefits Anaylsis
2014 Experience Study
2015 Post Retirement Benefits Analysis
2014 Post Retirement Benefits Analysis
2013 Post Retirement Benefits Analysis
2012 Post Retirement Benefits Analysis
2010 Experience Study
2011 Post Retirement Benefits Analysis
2010 Post Retirement Benefits Analysis
2009 Post Retirement Benefits Analysis
2008 Post Retirement Benefits Analysis
2007 Post Retirement Benefits Analysis
2006 Experience Study
2006 Post Retirement Benefits Analysis
2005 Post Retirement Benefits Analysis
2004 Post Retirement Benefits Analysis
2001 Experience Study

457 Deferred Compensation Plan Reports

Plan Review for October 1-December 31, 2023

Plan Review for July 1-September 30, 2023

Plan Review for April 1-June 30, 2023

Plan Review for January 1-March 31, 2023

Plan Review for October 1-December 31, 2022

Plan Review for July 1-September 30, 2022

Plan Review for April 1-June 30, 2022
Plan Review for January 1-March 31, 2022
Plan Review for October 1-December 31, 2021
Plan Review for July 1-September 30, 2021
Plan Review for April 1-June 30, 2021
Plan Review for January 1-March 31, 2021
Plan Review for October 1-December 31, 2020
Plan Review for July 1-September 30, 2020
Plan Review for April 1-June 30, 2020
Plan Review for January 1-March 31, 2020
Plan Review for October 1-December 31, 2019
Plan Review for July 1-September 30, 2019
Plan Review for April 1-June 30, 2019
Plan Review for January 1-March 31, 2019
Plan Review for October 1-December 31, 2018
Plan Review for July 1-September 30, 2018
Plan Review for April 1-June 30, 2018
Plan Review for February 1-March 31, 2018
Plan Review for January 1-January 31, 2018
Plan Review for October 1-December 31, 2017
Plan Review for July 1-September 30, 2017
Plan Review for April 1 - June 30, 2017
Plan Review for January 1-March 31, 2017
Plan Review for October 1-December 31, 2016
Plan Review for July 1-September 30, 2016
Plan Review for April 1-June 30, 2016
Plan Review for January 1-March 31, 2016
Plan Review for October 1-December 31, 2015
Plan Review for July 1-September 30, 2015
Plan Review for April 1-June 30, 2015
Plan Review for January 1-March 31, 2015
Plan Review for October 1-December 31, 2014
Plan Review for July 1-September 30, 2014
Plan Review for April 1-June 30, 2014
Plan Review for January 1-March 31, 2014
Plan Review for October 1-December 31, 2013

Single Deposit Investor Account (SDIA) Reports

SDIA Plan Review for October 1-December 30, 2023

SDIA Plan Review for July 1 - September 30, 2023

SDIA Plan Review for April 1 - June 30, 2023

SDIA Plan Review for January 1-March 31, 2023

SDIA Plan Review for October 1-December 31, 2022

SDIA Plan Review for July 1-September 30, 2022

SDIA Plan Review for April-June 30, 2022
SDIA Plan Review for January 1-March 31, 2022
SDIA Plan Review for October 1-December 31, 2021
SDIA Plan Review for July 1-September 30, 2021
SDIA Plan Review for April 1-June 30, 2021
SDIA Plan Review for January 1-March 31, 2021
SDIA Plan Review for October 1-December 31, 2020
SDIA Plan Review for July 1-September 30, 2020
SDIA Plan Review for April 1-June 30, 2020
SDIA Plan Review for January 1-March 31, 2020
SDIA Plan Review for October 1-December 31, 2019
SDIA Plan Review for July 1-September 30, 2019
SDIA Plan Review for April 1-June 30, 2019
SDIA Plan Review for January 1-March 31, 2019
SDIA Plan Review for October 1-December 31, 2018
SDIA Plan Review for July 1-September 30, 2018
SDIA Plan Review for April 1-June 30, 2018
SDIA Plan Review for February 1-March 31, 2018
SDIA Plan Review for January 1-January 31, 2018
SDIA Plan Review for October 1-December 31, 2017
SDIA Plan Review for July 1-September 30, 2017
SDIA Plan Review for April 1-June 30, 2017
SDIA Plan Review for January 1-March 31, 2017
SDIA Plan Review for October 1-December 31, 2016
SDIA Plan Review for July 1-September 30, 2016
SDIA Plan Review for April 1-June 30, 2016
SDIA Plan Review for January 1-March 31, 2016
SDIA Plan Review for October 1-December 31, 2015
SDIA Plan Review for July 1-September 30, 2015
SDIA Plan Review for April 1-June 30, 2015
SDIA Plan Review for January 1-March 31, 2015
SDIA Plan Review for October 1-December 31, 2014
SDIA Plan Review for July 1-September 30, 2014
SDIA Plan Review for April 1-June 30, 2014
SDIA Plan Review for January 1-March 31, 2014
SDIA Plan Review for October 1-December 31, 2013

Defined Contribution Plan Reports

Defined Contribution Plan Review for October 1-December 31, 2023

Defined Contribution Plan Review for July 1-September 30, 2023

Defined Contribution Plan Review for April 1-June 30, 2023

Defined Contribution Plan Review for January 1-March 31, 2023

Defined Contribution Plan Review for October 1-December 31, 2022

Defined Contribution Plan Review for July 1-September 30, 2022

Defined Contribution Plan Review for April 1-June 30, 2022
Defined Contribution Plan Review for January 1-March 31, 2022
Defined Contribution Plan Review for October 1-December 31, 2021
Defined Contribution Plan Review for July 1-September 30, 2021
Defined Contribution Plan Review for April 1-June 30, 2021
Defined Contribution Plan Review for January 1-March 31, 2021
Defined Contribution Plan Review for October 1-December 31, 2020
Defined Contribution Plan Review for July 1-September 30, 2020
Defined Contribution Plan Review for April 1-June 30, 2020
Defined Contribution Plan Review for January 1-March 31, 2020
Defined Contribution Plan Review for October 1-December 31, 2019
Defined Contribution Plan Review for July 1-September 30, 2019
Defined Contribution Plan Review for April 1-June 30, 2019
Defined Contribution Plan Review for January 1-March 31, 2019
Defined Contribution Plan Review for October 1-December 31, 2018
Defined Contribution Plan Review for July 1-September 30, 2018
Defined Contribution Plan Review for April 1-June 30, 2018
Defined Contribution Plan Review for January 1-March 31, 2018
Defined Contribution Plan Review for July 1-September 30, 2017
Defined Contribution Plan Review for April 1-June 30, 2017
Defined Contribution Plan Review for January 1-March 31, 2017
Defined Contribution Plan Review for October 1-December 31, 2016
Defined Contribution Plan Review for July 1-September 30, 2016
Defined Contribution Plan Review for April 1-June 30, 2016
Defined Contribution Plan Review for January 1-March 31, 2016
Defined Contribution Plan Review for October 1-December 31, 2015
Defined Contribution Plan Review for July 1-September 30, 2015
Defined Contribution Plan Review for April 1-June 30, 2015
Defined Contribution Plan Review for January 1-March 31, 2015
Defined Contribution Plan Review for October 1-December 31, 2014
Defined Contribution Plan Review for July 1-September 30, 2014
Defined Contribution Plan Review for April 1-June 30, 2014
Defined Contribution Plan Review for January 1-March 31, 2014
Defined Contribution Plan Review for October 1-December 31, 2013

 

To request past reports that are not listed on this page, please email the Office of the Treasurer at Treasurers.Office@vermont.gov.