Texas Teachers Basics

  • Established 1937
  • Currently open to new hires
  • Plan covers teachers
  • Plan members not covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Texas Teachers, 2001-2020

Fiscal Year Net Assets (billions)
2001 79.43
2002 71.70
2003 77.63
2004 84.20
2005 93.71
2006 100.24
2007 112.13
2008 104.91
2009 88.65
2010 95.69
2011 107.42
2012 111.45
2013 117.39
2014 132.78
2015 128.54
2016 134.01
2017 147.36
2018 154.57
2019 157.98
2020 165.42

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2020

Fiscal Year Texas Teachers US State and Local Pensions
2001 4.2 2.7
2002 3.7 2.5
2003 3.5 2.5
2004 3.0 2.3
2005 2.9 2.2
2006 3.0 2.1
2007 2.9 2.1
2008 2.9 2.0
2009 2.9 2.0
2010 2.8 1.9
2011 2.7 1.8
2012 2.5 1.7
2013 2.4 1.7
2014 2.4 1.6
2015 2.2 1.6
2016 2.2 1.6
2017 2.1 1.5
2018 2.1 1.5
2019 2.0 1.5
2020 2.1 1.5

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Texas Teachers, 2001-2020

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 5.5 0.0 9.7 5.5
2002 5.5 0.0 9.9 5.2
2003 5.5 1.1 11.3 6.6
2004 5.6 1.3 13.8 6.9
2005 5.7 1.2 14.4 6.9
2006 5.6 1.1 14.4 6.7
2007 5.6 1.0 14.5 6.6
2008 6.2 0.0 14.0 6.1
2009 6.2 0.0 14.3 5.7
2010 6.2 1.0 17.1 7.3
2011 6.4 1.0 18.3 7.4
2012 5.7 2.0 20.3 7.7
2013 6.1 2.1 20.9 8.2
2014 6.4 1.7 20.1 8.1
2015 7.5 0.5 20.4 8.0
2016 7.5 0.2 20.2 7.6
2017 7.6 0.1 21.2 7.7
2018 7.5 0.1 22.9 7.6
2019 7.4 1.7 24.4 9.0
2020 7.7 1.3 23.6 9.1

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Texas Teachers, 2001-2020

Fiscal Year Texas Teachers National Data
2001 102.5 91.0
2002 96.3 82.6
2003 94.5 77.3
2004 91.8 78.4
2005 87.1 77.2
2006 87.3 78.0
2007 89.2 80.7
2008 90.5 78.7
2009 83.1 70.1
2010 82.9 66.7
2011 82.7 65.8
2012 81.9 63.3
2013 80.8 63.7
2014 80.2 64.7
2015 80.2 65.1
2016 79.7 63.1
2017 80.5 63.8
2018 76.9 63.6
2019 76.4 64.1
2020 76.8 64.8

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

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Investments

Asset Allocation for Texas Teachers, 2020

Category Percent
Equities 38.6
Fixed Income 13.4
Private Equity 13.5
Real Estate 12.5
Cash 1.4
Other 0.0
Commodities 4.9
Hedge Fund 15.7
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2020

Category Percent
Equities 47.0
Fixed Income 23.0
Private Equity 9.3
Real Estate 9.1
Cash 2.0
Other 0.1
Commodities 2.1
Hedge Fund 5.9
Misc. Alternatives 1.7

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Texas Teachers, 2001-2020

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 65.0 32.7 0.3 0.6 0.6 0.0 0.0 0.3 0.0
2002 65.8 31.2 0.5 0.6 0.8 0.0 0.0 0.5 0.0
2003 66.9 29.8 0.8 0.5 1.0 0.0 0.0 0.8 0.0
2004 68.6 27.4 1.1 0.4 1.2 0.0 0.0 1.1 0.0
2005 67.0 27.5 1.7 0.3 1.8 0.0 0.0 1.7 0.0
2006 65.0 26.8 2.3 0.3 3.9 0.0 0.0 1.7 0.0
2007 63.3 28.2 3.4 1.1 1.5 0.0 0.0 2.5 0.0
2008 56.0 25.0 5.8 4.8 1.1 0.0 3.5 3.8 0.0
2009 53.8 24.0 6.7 5.8 3.0 0.0 2.6 4.1 0.0
2010 51.7 23.9 9.0 8.0 1.0 0.0 2.2 4.2 0.0
2011 50.7 19.4 10.4 11.1 1.3 0.0 3.1 4.0 0.0
2012 51.1 18.0 11.8 13.7 0.9 0.0 1.0 3.5 0.0
2013 44.7 19.0 12.3 13.6 1.0 0.0 0.4 9.0 0.0
2014 49.4 13.6 11.8 11.6 1.3 0.0 2.0 10.3 0.0
2015 45.3 13.3 12.5 12.9 0.5 0.0 2.0 13.5 0.0
2016 44.0 13.5 12.0 13.9 0.2 0.0 2.1 14.3 0.0
2017 42.0 14.2 12.6 12.1 0.6 0.0 4.0 14.5 0.0
2018 39.6 13.7 13.8 11.9 0.4 0.0 5.0 15.6 0.0
2019 34.9 13.3 14.3 13.5 1.7 0.0 5.7 16.7 0.0
2020 38.6 13.4 13.5 12.5 1.4 0.0 4.9 15.7 0.0

Source: Public Plans Database

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Annual Return as of August 31 for Texas Teachers, 2001-2020

Fiscal Year Texas Teachers Assumed return
2001 -5.00 8.00
2002 -6.40 8.00
2003 4.70 8.00
2004 15.70 8.00
2005 9.50 8.00
2006 10.40 8.00
2007 17.50 8.00
2008 -2.10 8.00
2009 -21.90 8.00
2010 15.70 8.00
2011 22.20 8.00
2012 2.70 8.00
2013 10.20 8.00
2014 16.30 8.00
2015 4.20 8.00
2016 1.30 8.00
2017 12.90 8.00
2018 9.20 7.25
2019 6.40 7.25
2020 1.80 7.25

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Texas Teachers
2001-2020

Fiscal Year Cash Flow Assets
2001 -1,261.3 79,426.8
2002 -1,770.8 71,695.8
2003 -2,029.0 77,633.0
2004 -2,773.2 84,203.0
2005 -2,598.9 93,707.8
2006 -2,574.3 100,239.0
2007 -2,496.7 112,128.8
2008 -2,703.6 104,910.5
2009 -2,361.8 88,653.0
2010 -2,465.8 95,688.4
2011 -2,906.1 107,420.8
2012 -3,820.1 111,449.9
2013 -3,898.5 117,388.1
2014 -4,047.5 132,779.2
2015 -3,831.5 128,538.7
2016 -3,725.3 134,008.6
2017 -3,727.8 147,361.9
2018 -3,948.4 154,568.9
2019 -4,267.8 157,978.2
2020 -3,641.1 165,416.2

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Texas Teachers
2001-2020

Fiscal Year Texas Teachers National Average
2001 -1.6 -0.9
2002 -2.5 -1.5
2003 -2.6 -1.6
2004 -3.3 -0.5
2005 -2.8 -2.0
2006 -2.6 -2.1
2007 -2.2 -2.1
2008 -2.6 -1.9
2009 -2.7 -3.4
2010 -2.6 -3.3
2011 -2.7 -3.2
2012 -3.4 -3.8
2013 -3.3 -3.8
2014 -3.0 -3.4
2015 -3.0 -3.2
2016 -2.8 -3.4
2017 -2.5 -2.9
2018 -2.6 -2.8
2019 -2.7 -2.3
2020 -2.2 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

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2020 Financial Reports

Benefits

Website for Texas Teachers benefit descriptions.