The Teacher Retirement System (TRS) held its March meeting on March 23, 2016. TRS Executive Director Jeff Ezell announced he will retire in July 2016. Mr. Ezell provided excellent guidance to TRS and his leadership will be missed. As of February 2016, TRS Net Assets stood at $62,070,908,071. Total active membership is up approximately 5,500 members over last year.
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Financial Statements
TRS net assets in January 2015 were $65,957,991,899. TRS net assets in January 2016 were $62,256,357,794.
TRS net assets in February 2015 were $68,108,310,632. TRS net assets in February 2016 were $62,070,908,071.
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- FYTD there are 3,103 retirements compared to 3,073 at this time last year.
- Average years of service for retirees with 10 to 24 years of service is 15.7.
- Average years of service for retirees with 25 plus years of service is 30.7 years.
- Average age for service retirement is 59.2 years.
- The average monthly benefit for service retirees is $3,198.
- There are currently 114,649 retirees.
- There are currently 257,127 active TRS members compared 251,567 at this time last year.
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Adoption of Administrative Rule 513-5-1.63
The board unanimously approved adoption of Administrative Rule 513-5-1-.63 providing guidelines for visiting speakers at meetings. CLICK HERE to read the administrative rule.
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Adoption of Amended 2016 Board of Trustees and
Standing Committees Meeting Schedule
The board made a slight change to the TRS meeting dates. CLICK HERE for the revised schedule.
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Legislative Report
The legislature passed no bills having a fiscal impact.SB 335 by Sen. Ellis Black (R-Valdosta) is a non-fiscal bill that allows TRS to invest in co-mingled funds and collective investment funds that are maintained by state charted banks or trust companies. It did pass and awaits the governor's signature. HB 250 by Rep. Tom Dickson (R-Cohutta) would have allowed TRS beneficiaries to assign their benefit payments to a self-settled trust. It did not pass crossover day. HB 344 by Rep. Tommy Benton (R-Jackson) would have created the Georgia Public Retirement System Trustee Training Council and did not pass crossover day. SR 725 by Sen. Judson Hill (R-Marietta) proposed a Constitutional amendment prohibiting investments in foreign state sponsors of terrorism. It did not move out of committee.
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