Facts at a glance is a quick glimpse into information on TRS, the pension fund's membership, investments and funding. For more detailed information see the following reports:
Key membership, investment, funding and administration data tables:
Membership
| Number of | August 31, 2024 | August 31, 2023 |
|---|---|---|
| Current Members | ||
| Active Contributing | 970,874 | 953,295 |
| Inactive Non-vested | 439,889 | 424,658 |
| Inactive Vested | 138,146 | 134,100 |
| Total Current Members | 1,548,909 | 1,512,053 |
| Retirement Recipients | ||
| Service | 478,891 | 457,779 |
| Disability | 12,127 | 11,933 |
| Survivor | 20,683 | 20,209 |
| Total Retirement Recipients | 508,701 | 489,921 |
| TOTAL MEMBERSHIP | 2,057,610 | 2,001,974 |
Members Retiring Fiscal Year Ended 8/31/24
| Number Retiring | 26,618 |
|---|---|
| Average Age at Retirement | 60.6 |
| Average Service Credit | 24.0 |
| Life Annuities | $2,294 |
|---|---|
| Disability Annuities | $1,345 |
| Annuities Certain | $1,258 |
Investments
| Year | Value (in billions) | Annual Rate of Return |
|---|---|---|
| 2015 | $127.042 | (0.30)% |
| 2016 | $132.762 | 7.40% |
| 2017 | $145.916 | 12.60% |
| 2018 | $154.700 | 8.20% |
| 2019 | $157.433 | 5.20% |
| 2020 | $164.642 | 7.24% |
| 2021 | $201.163 | 24.98% |
| 2022 | $183.509 | (6.72)% |
| 2023 | $186.608 | 3.85% |
| 2024 | $209.541 | 12.83% |
Asset Allocation
| Asset | Market Value (in billions) | % of Total |
|---|---|---|
| Public Equity | $80.893 | 38.6% |
| Private Equity | $33.539 | 16.0% |
| Government Bonds | $29.504 | 14.1% |
| Absolute Return | $9.940 | 4.8% |
| Stable Value Hedge Funds | $7.342 | 3.5% |
| Real Estate | $29.602 | 14.1% |
| Energy, Natural Resources & Infrastructure | $14.481 | 6.9% |
| Commodities | $0.273 | 0.1% |
| Risk Parity | $15.248 | 7.3% |
| Cash | $2.225 | 1.1% |
| Asset Allocation Leverage | ($13.505) | (6.5)% |
| Total | $209.541 | 100.0% |
Pension Fiduciary Net Assets
| 2024 (in billions) | 2023 (in billions) | |
|---|---|---|
| Net Position | $210.543 | $187.171 |
| Member Contributions | $4.922 | $4.493 |
| State Contributions – General Fund | $2.484 | $2.279 |
| Pension Payments to Retirees & Beneficiaries | $15.240 | $12.862 |
Funding Status
| 2024 | 2023 | |
|---|---|---|
| Statutory Contribution Rates | ||
| State | 8.25% | 8.00% |
| Member | 8.25% | 8.00% |
| Actuarial Information | ||
| Covered Payroll | $61.4 billion | $57.8 billion |
| Normal Cost % | 12.10% | 12.10% |
Unfunded Actuarial Accrued Liability (UAAL) | $60.6 billion | $57.9 billion |
| UAAL as % of Pay | 98.70% | 100.20% |
| Funded Ratio | 77.80% | 77.50% |