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The TRS Board of Trustees met on September 24, 2014 for their bimonthly meeting. The TRS membership rolls remain steady. TRS net assets are up again. As of August 2014 net assets stand at $66,947,188,206. More detailed membership, retirement and financial information follows.
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Membership and Retirement Report
- FYTD there were 1,100 retirements compared to 1,047 at this time last year.
- Average years of service for retirees with 10 to 24 years of service is 17 years.
- Average years of service for retirees with 25 plus years of service is 30.7 years.
- Average age at retirement is currently 59 years.
- The average monthly benefit for service retirees is $3,125.
- There are currently 108,926 retirees on the TRS rolls.
- There are currently 239,155 active TRS members compared 238,568 at this time last year.
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Financial Statements
TRS net assets in July 2014 were $65,501,852,777. TRS net assets in July 2013 were $60,496,400,836. TRS net assets in August 2014 were $66,947,188,206. TRS net assets in August 2013 were $59,183,181,142.
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Adoption of Final Budget for FY 2016
The Board adopted the FY 2016 budget at the July 23rd meeting. This budget was passed along to the Governor's Office of Budget and Planning with no revisions.
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