State money
State debt and pensions
What the State of Iowa owes, by kind of debt and per person, and how much of what the state’s pension plans have promised is set aside. Cities, counties and schools borrow on their own: see local debt.
What the state owes, by kind
Debt of the state government and its business-type activities, such as the state universities’ dorms and hospitals1.
Show the numbers
| Fiscal year | Government bonds | Business-type bonds | Leases and other | Total | Per person |
|---|---|---|---|---|---|
| FY25 | $838M | $2.09B | $694M | $3.62B | $1,117 |
| FY24 | $964M | $1.92B | $523M | $3.41B | $1,062 |
| FY23 | $1.14B | $1.95B | $495M | $3.59B | $1,120 |
| FY22 | $1.21B | $2.00B | $268M | $3.48B | $1,091 |
| FY21 | $1.28B | $1.76B | $70M | $3.12B | $977 |
| FY20 | $1.39B | $1.81B | $62M | $3.25B | $1,031 |
| FY19 | $1.44B | $1.95B | $78M | $3.47B | $1,098 |
| FY18 | $1.54B | $1.98B | $91M | $3.61B | $1,148 |
| FY17 | $1.59B | $1.92B | $110M | $3.61B | $1,153 |
| FY16 | $1.62B | $1.94B | $88M | $3.65B | $1,168 |
Iowa’s Constitution all but rules out ordinary borrowing backed by state taxes, so most of what the state owes is revenue bonds. The state’s balance sheet also shows what the Iowa Finance Authority and the universities borrow.
Debt per Iowan
| Fiscal year | Per person |
|---|---|
| FY25 | $1,117 |
| FY24 | $1,062 |
| FY23 | $1,120 |
| FY22 | $1,091 |
| FY21 | $977 |
| FY20 | $1,031 |
| FY19 | $1,098 |
| FY18 | $1,148 |
| FY17 | $1,153 |
| FY16 | $1,168 |
Show the numbers
| Fiscal year | Per person |
|---|---|
| FY25 | $1,117 |
| FY24 | $1,062 |
| FY23 | $1,120 |
| FY22 | $1,091 |
| FY21 | $977 |
| FY20 | $1,031 |
| FY19 | $1,098 |
| FY18 | $1,148 |
| FY17 | $1,153 |
| FY16 | $1,168 |
Pensions: how much is set aside
A pension plan’s funded ratio is the money it has set aside divided by what it has promised to pay its members, as its actuaries count them. 100% means fully funded; the gap below it is the unfunded liability, which future contributions and investment returns have to cover.
IPERS and the fire and police plan
IPERS: 92.2% funded in FY25, $3.84B unfunded; Fire and police: 85.4% funded in FY25, $604M unfunded2.
Show the numbers
| Fiscal year | IPERS funded | Fire and police funded | IPERS unfunded | Fire and police unfunded |
|---|---|---|---|---|
| FY25 | 92.2% | 85.4% | $3.84B | $604M |
| FY24 | 90.8% | 84.5% | $4.38B | $617M |
| FY23 | 89.7% | 84.6% | $4.71B | $587M |
| FY22 | 89.5% | 84.4% | $4.62B | $568M |
| FY21 | 88.3% | 82.9% | $4.96B | $600M |
| FY20 | 84.0% | 79.9% | $6.59B | $680M |
| FY19 | 83.7% | 81.0% | $6.48B | $620M |
| FY18 | 82.4% | 82.0% | $6.82B | $566M |
| FY17 | 81.4% | 81.4% | $6.97B | $562M |
| FY16 | 83.9% | 81.4% | $5.59B | $534M |
| FY15 | 83.7% | 80.8% | $5.45B | $530M |
| FY14 | 82.7% | 77.8% | $5.54B | $586M |
| FY13 | 81.0% | 73.9% | $5.79B | $657M |
| FY12 | 79.9% | 73.7% | $5.92B | $655M |
| FY11 | 79.9% | 78.2% | $5.68B | $521M |
| FY10 | 81.4% | 81.1% | $4.93B | $434M |
| FY09 | 81.2% | 85.6% | $4.89B | $319M |
| FY08 | 89.1% | 89.7% | $2.66B | $218M |
| FY07 | 90.2% | 87.2% | $2.27B | $258M |
| FY06 | 88.4% | 89.0% | $2.51B | $189M |
| FY05 | 88.7% | 85.4% | $2.29B | $233M |
| FY04 | 88.6% | 84.2% | $2.18B | $239M |
| FY03 | 89.6% | 87.8% | $1.87B | $174M |
| FY02 | 92.6% | 93.7% | $1.26B | $85M |
| FY01 | 97.2% | 99.1% | $441M | $12M |
Peace officers’ and judges’ plans
The State Patrol and other state peace officers’ plan (PORS) was 79.3% funded in FY25; the judges’ plan, 105.5%3.
Show the numbers
| Fiscal year | Peace officers funded | Peace officers unfunded | Judges funded | Judges unfunded |
|---|---|---|---|---|
| FY25 | 79.3% | $214M | 105.5% | $-16M |
| FY24 | 75.8% | $240M | 100.6% | $-2M |
| FY23 | 72.7% | $254M | 96.1% | $10M |
| FY22 | 70.7% | $259M | 90.3% | $25M |
| FY21 | 103.5% | $-27M | 123.5% | $-59M |
| FY20 | 80.5% | $147M | 94.4% | $14M |
| FY19 | 78.8% | $145M | 88.8% | $27M |
| FY18 | 80.3% | $130M | 89.9% | $24M |
| FY17 | 73.6% | $168M | 94.3% | $11M |
| FY16 | 69.7% | $175M | 84.4% | $30M |