Economic Performance
Employee Pension and Retirement Programs
At the core of our business recovery are our employees and in 2022 we continue to invest in them through development , Merit Pay and providing adequate funding for health insurance and retirement plans . In 2022 the Pension Retirement Programs remained well funded at 86.11 % and 104.30 % respectively , on a market value and actuarial value bases for the General Employee plan and 86.21 % and 104.50 % percent respectively on a market value and actuarial basis for the Police and Firefighters ’ plan .
Other Post-Employment Benefits ( OPEB ) remain well-funded at 90.6 % for Medical and Life benefits .
Pension ( Defined Benefits Plan ) Funded Ratios OPEB Programs Funded Ratios
General Employees Market Value |
86.1 % |
113.6 % |
Police Officers & Firefighters Market Value |
86.2 % |
113.1 % |
General Employees Actuarial Value |
104.3 %
101.9 %
|
Police Officers & Firefighters Actuarial Value |
104.5 %
101.1 %
|
0.0 % |
20.0 % |
40.0 % |
60.0 % |
80.0 % 100.0 % 120.0 % 140.0 % |
2022 |
2021 |
140.0 % 120.0 % 100.0 % 80.0 % 60.0 % 40.0 % 20.0 % 0.0 %
122.10 %
90.65 %
2021 2022
Source : 2022 Annual Comprehensive Annual Financial Report , Airports Authority Records ( OPEB )
Economic Performance 89