TN Political Subdivisions Basics

  • Established 1972
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, agent plan

Assets, Participants, and Benefits

Assets at Year-End, TN Political Subdivisions, 2001-2018

Fiscal Year Net Assets (billions)
2001 3.2
2002 3.1
2003 3.3
2004 3.7
2005 4.0
2006 4.4
2007 5.1
2008 5.1
2009 4.4
2010 5.0
2011 6.0
2012 6.4
2013 7.1
2014 8.3
2015 8.5
2016 8.7
2017 9.6
2018 10.3

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year TN Political Subdivisions US State and Local Pensions
2001 3.2 2.5
2002 3.1 2.4
2003 3.1 2.3
2004 3.0 2.2
2005 3.0 2.1
2006 2.9 2.1
2007 2.8 2.0
2008 2.7 2.0
2009 2.5 1.9
2010 2.5 1.8
2011 2.4 1.7
2012 2.2 1.6
2013 2.1 1.5
2014 1.9 1.5
2015 1.8 1.5
2016 1.7 1.4
2017 1.7 1.4
2018 1.6 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for TN Political Subdivisions, 2001-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 6.7 0.0 5.0 6.7 6.7
2002 6.3 0.0 4.8 6.3 6.3
2003 7.7 0.0 5.7 7.7 7.7
2004 7.7 0.0 7.3 7.7 7.7
2005 9.6 0.0 9.0 9.6 9.6
2006 9.6 0.0 9.3 9.6 9.6
2007 11.1 0.0 10.0 11.1 11.1
2008 11.2 0.0 10.4 11.2 11.2
2009 11.1 0.0 10.2 11.1 11.1
2010 11.1 0.0 10.5 11.1 11.1
2011 11.6 0.0 12.5 11.6 11.6
2012 11.5 0.0 12.9 11.5 11.5
2013 11.6 0.0 14.0 11.6 11.6
2014 null null 14.4 null null
2015 null null 14.9 null null
2016 null null 14.8 null null
2017 null null 15.1 null null
2018 null null 15.9 null null

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for TN Political Subdivisions, 2001-2018

Fiscal Year TN Political Subdivisions National Data
2001 90.4 106.5
2002 91.2 101.1
2003 91.9 94.2
2004 92.3 93.1
2005 92.7 91.1
2006 90.9 90.5
2007 89.5 91.2
2008 87.8 90.2
2009 86.3 83.2
2010 87.9 81.5
2011 89.2 80.4
2012 92.1 78.9
2013 95.0 78.7
2014 97.0 79.0
2015 98.8 78.2
2016 99.5 76.3
2017 97.2 76.4
2018 98.2 76.6

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.

Investments

Asset Allocation for TN Political Subdivisions, 2018

Category Percent
Equities 52.3
Fixed Income 28.8
Private Equity 10.0
Real Estate 8.3
Cash 0.6
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for TN Political Subdivisions, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 40.7 52.7 0.0 1.2 5.4 0.0 0.0 0.0 0.0
2002 40.6 50.0 0.0 1.5 7.9 0.0 0.0 0.0 0.0
2003 35.8 53.3 0.0 1.6 9.3 0.0 0.0 0.0 0.0
2004 40.9 50.5 0.0 1.5 7.1 0.0 0.0 0.0 0.0
2005 42.0 52.7 0.0 1.6 3.7 0.0 0.0 0.0 0.0
2006 43.8 49.3 0.0 3.2 3.6 0.0 0.0 0.0 0.0
2007 48.7 45.1 0.0 3.3 2.9 0.0 0.0 0.0 0.0
2008 51.4 43.8 0.0 4.2 0.6 0.0 0.0 0.0 0.0
2009 39.6 47.2 0.0 4.6 8.6 0.0 0.0 0.0 0.0
2010 47.2 47.7 0.1 3.4 1.7 0.0 0.0 0.0 0.0
2011 55.1 40.0 0.2 3.2 1.5 0.0 0.0 0.0 0.0
2012 56.0 37.9 0.5 3.9 1.7 0.0 0.0 0.0 0.0
2013 56.6 35.7 0.7 4.9 2.1 0.0 0.0 0.0 0.0
2014 58.2 32.8 2.8 5.3 0.9 0.0 0.0 0.0 0.0
2015 55.0 32.5 4.9 6.5 1.0 0.0 0.0 0.0 0.0
2016 53.5 31.5 7.0 7.5 0.4 0.0 0.0 0.0 0.0
2017 54.4 28.7 8.2 7.7 0.9 0.0 0.0 0.0 0.0
2018 52.3 28.8 10.0 8.3 0.6 0.0 0.0 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for TN Political Subdivisions, 2001-2018

Fiscal Year TN Political Subdivisions Assumed return
2001 -1.57 7.50
2002 -1.92 7.50
2003 4.90 7.50
2004 9.32 7.50
2005 7.26 7.50
2006 6.94 7.50
2007 13.15 7.50
2008 -1.21 7.50
2009 -15.27 7.50
2010 10.24 7.50
2011 19.59 7.50
2012 5.61 7.50
2013 9.92 7.50
2014 16.65 7.50
2015 3.33 7.50
2016 2.79 7.50
2017 11.42 7.50
2018 8.19 7.25

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
TN Political Subdivisions
2001-2018

Fiscal Year Cash Flow Assets
2001 25.5 3,160.2
2002 30.1 3,138.7
2003 52.0 3,335.2
2004 45.7 3,691.8
2005 80.1 4,043.1
2006 79.0 4,405.2
2007 100.8 5,094.7
2008 94.9 5,120.9
2009 98.8 4,420.5
2010 84.1 4,964.5
2011 84.0 6,024.5
2012 65.2 6,416.1
2013 41.9 7,080.9
2014 7.9 8,259.5
2015 -42.9 8,482.6
2016 -35.8 8,667.7
2017 -45.5 9,607.1
2018 -57.2 10,345.3

Source: Public Plans Database


Cash Flow as a Percentage of Assets
TN Political Subdivisions
2001-2018

Fiscal Year TN Political Subdivisions National Average
2001 0.8 -2.3
2002 1.0 -2.3
2003 1.6 -2.6
2004 1.2 -1.7
2005 2.0 -1.9
2006 1.8 -1.9
2007 2.0 -1.7
2008 1.9 -1.9
2009 2.2 -2.7
2010 1.7 -2.9
2011 1.4 -2.8
2012 1.0 -3.1
2013 0.6 -3.0
2014 0.1 -2.7
2015 -0.5 -2.8
2016 -0.4 -3.0
2017 -0.5 -2.9
2018 -0.6 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for TN Political Subdivisions benefit descriptions.