Butler County's pension fund is almost 90 percent funded.

Controller Ben Holland said Tuesday at the county retirement board meeting that the plan has reached 88.7 percent funding, with $181.6 million.

Between 2013 and 2015, Holland said the plan's unfunded liabilities have decreased from $41.9 million to $23 million.

He said the county's retirement contribution has continued to decline due to the plan exceeding actuarial assumptions. For this year, the county's funding requirement is slightly more than $5 million. The estimated funding amount was $6 million. Last year, the county's contribution was $6.2 million.

Commissioner Bill McCarrier, board chairman, asked when the plan might reach 100 percent funding.

Holland said it could reach that point in 15 years.

“Once you're over 85 percent, it's truly considered a well-funded plan,” Holland said.

The county is paying an average of $819,431 per month in benefits. The plan has 573 members paying into it, and the county has 574 retirees receiving benefits. Holland said the nearly one-to-one ratio means that the plan can be considered “mature.”

“We're officially a mature plan,” Holland said.

He said this is becoming more and more common with baby boomers retiring and counties selling off their nursing homes. Younger plans tend to have more cash flow, Holland said. He said that mature plans have lower cash flow, but he said they still can be sound.

Commissioner Jim Eckstein said he is happy with the plan's progress, but said he is unsure if the markets will stay level and noted that the plan still is not fully funded.

Jennifer Kasprack with the Bogdahn Group, which is the plan's consultant, said that the plan has a positive cash flow, and said 88.7 percent funding is a sound number.

“That's a really good number. I would be happy with that number,” Kasprack said, noting that she has a hard time imagining any pension fund being 100 percent funded.