Delaware County, Indiana
Retirement Benefits - My Choice
Members are required to participate in My Choice. The My Choice DC Account consists of the member's contributions, set by statute at three 3% of compensation as defined by IC 5-10.2-3-2 for PERF, plus the interest/earnings or losses credited to the member's account. The employer may elect to make the contributions on behalf of the member. The City has elected to make the contributions on behalf of the member. In addition, under certain conditions, members may elect to make additional voluntary contributions of up to 10% of their compensation into their DC Account. A member's contributions and interest credits belong to the member and do not belong to the State or political subdivision.
Rate of Return
The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. For the fiscal year ended June 30, 2025, the annual money-weighted rate of return on pension plan investments, net of pension plan investment expense for Public Employee's Retirement Fund was 10.9%
Net Pension Liability
At December 31, 2025, the County reported a Liability of $10,342,817 for its proportionate share of the net pension Liability. The County's proportion of the total was measured on the ratio of the wages reported by employers relative to the collective wages of the plan. This basis of allocation measures the proportionate relationship of an employer to all employers and is consistent with the manner in which contributions to the pension plan are determined. The plan does not have a special funding situation, as there is not a nonemployer contributing entity legally responsible for making contributions that are used to provide pension benefits to members of the pension plan. At June 30, 2025 the County's proportion was 0.31300%, an increase of 0.00226% from 0.31074% at June 30, 2024. The net pension liability for fiscal year 2025 is calculated as set forth in the following table:
|
PERF Plan Total |
||
|---|---|---|
| Net pension liability, beginning December 31, 2024 | $ | 12,525,882 |
| Differences between expected and actual experience | 162,232 | |
| Net difference between projected and actual investment | (1,807,019) | |
| Change of assumptions | 211,144 | |
| Changes in proportion and differences between employer | ||
| contributions and proportionate share of contributions | 157,475 | |
| Pension expense/income | 1,555,062 | |
| Contributions | (2,461,959) | |
| Net pension liability, December 31, 2025 | $ | 10,342,817 |