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The TRS Board of Trustees met for their annual meeting July 23, 2014. The TRS Net Position is up to $66,457,476,610. TRS welcomed a new board member, Dr. Wanda Creel. More detailed membership, retirement, and financial information follows.
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Membership and Retirement Report
- FYTD there are 6889 retirements. This time last year saw 7756 retirements.
- Average years of service for retirees with 25+ years of service was 30.9 years in May and 30.4 years in June.
- The average age for retirees with 10-24 years of service was 62.2 in May and 63.4 in June.
- The average age of retirees with 25+ years of service was 59.5 in May and 58.9 in June.
- The average monthly benefit for retirees with 10-24 years of service in May was $1263; in June $1325. The average monthly benefit for retirees with 25+ years of service in May was $3439; in June $3072.
- Year to date there are 107,990 retirees. At this time last year there were 103,060 retirees. Gross benefits paid in 2014 are $323,737,180.
- There are currently 239,685 active TRS members compared to 239,695 at this time in 2013.
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Financial Statements
TRS total assets for May 2014 were $65,658,473,442. Total assets in May 2013 were $59,742,176,138. TRS total assets for June 2014 were $66,457,476,610. Total assets in June 2013 were $58,594,821,946.
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FY 2016 Budget and FY 2015 Amended Budget
The following budgets were approved by the board.
- FY 2015 approved budget was $33,418,925
- FY 2015 Proposed budget is $34,768,709
- FY 2016 Proposed budget is $35,352,700
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