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, 2001-2022

Fiscal Year Net Assets (billions)
2001 3.16
2002 3.16
2003 3.31
2004 3.69
2005 4.04
2006 4.41
2007 5.09
2008 5.12
2009 4.42
2010 4.96
2011 6.02
2012 6.42
2013 7.08
2014 8.26
2015 8.47
2016 8.67
2017 9.61
2018 10.35
2019 11.02
2020 11.44
2021 14.22
2022 13.51

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2022

Fiscal Year TN Political Subdivisions US State and Local Pensions
2001 3.2 2.4
2002 3.1 2.3
2003 3.1 2.2
2004 3.0 2.1
2005 3.0 2.1
2006 2.9 2.0
2007 2.8 2.0
2008 2.7 1.9
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 1.4
2015 1.8 1.4
2016 1.7 1.4
2017 1.7 1.4
2018 1.6 1.3
2019 1.6 1.3
2020 1.6 1.3
2021 1.5 1.2
2022 1.5 1.2

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 TN Political Subdivisions, 2001-2022

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 6.7 0.0 5.3 6.7
2002 null 0.0 5.2 null
2003 7.7 0.0 6.0 7.7
2004 null 0.0 7.8 null
2005 9.6 0.0 9.6 9.6
2006 null 0.0 9.9 null
2007 11.1 0.0 10.6 11.1
2008 null 0.0 11.0 null
2009 11.1 0.0 11.0 11.1
2010 null 0.0 11.6 null
2011 11.6 0.0 13.4 11.6
2012 null 0.0 14.1 null
2013 11.6 0.0 15.1 11.6
2014 null null 15.7 null
2015 null null 15.7 null
2016 null null 15.6 null
2017 null null 15.5 null
2018 null null 16.2 null
2019 null null 16.4 null
2020 null null 16.8 null
2021 null null 17.4 null
2022 null null 18.1 null

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for TN Political Subdivisions, 2001-2022

Fiscal Year TN Political Subdivisions National Data
2001 90.4 101.7
2002 null 94.6
2003 91.9 88.8
2004 null 87.0
2005 92.7 85.4
2006 null 85.2
2007 89.5 86.3
2008 null 84.4
2009 86.3 78.4
2010 null 75.7
2011 89.2 74.3
2012 null 72.3
2013 95.0 71.8
2014 null 73.2
2015 98.8 73.2
2016 99.5 71.6
2017 97.2 72.0
2018 98.1 72.4
2019 100.7 72.5
2020 102.8 72.6
2021 99.8 75.8
2022 97.7 76.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for TN Political Subdivisions, 2022

Category Percent
Equities 42.2
Fixed Income 19.8
Private Equity 23.7
Real Estate 13.0
Cash 1.4
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2022

Category Percent
Equities 41.4
Fixed Income 20.6
Private Equity 13.9
Real Estate 10.8
Cash 2.2
Other 0.4
Commodities 2.5
Hedge Fund 6.5
Misc. Alternatives 1.7

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for TN Political Subdivisions, 2001-2022

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 55.1 32.5 4.9 6.5 1.0 0.0 0.0 0.0 0.0
2016 53.6 31.5 7.0 7.5 0.4 0.0 0.0 0.0 0.0
2017 54.5 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
2019 50.5 26.9 11.9 8.8 1.9 0.0 0.0 0.0 0.0
2020 48.7 25.8 14.8 9.0 1.7 0.0 0.0 0.0 0.0
2021 48.9 23.2 17.7 8.9 1.3 0.0 0.0 0.0 0.0
2022 42.2 19.8 23.7 13.0 1.4 0.0 0.0 0.0 0.0

Source: Public Plans Database

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Annual Return as of June 30 for TN Political Subdivisions, 2001-2022

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
2019 7.54 7.25
2020 4.94 7.25
2021 25.60 7.25
2022 -3.63 6.75

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
TN Political Subdivisions
2001-2022

Fiscal Year Cash Flow Assets
2001 25.5 3,160.2
2002 30.1 3,160.2
2003 52.0 3,313.7
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 8,473.3
2016 -35.8 8,667.7
2017 -45.5 9,607.1
2018 -57.2 10,345.3
2019 -92.0 11,020.0
2020 -118.3 11,438.0
2021 -150.0 14,219.3
2022 -170.9 13,507.0

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
TN Political Subdivisions
2001-2022

Fiscal Year TN Political Subdivisions National Average
2001 0.8 -2.0
2002 1.0 -2.4
2003 1.6 -2.5
2004 1.2 -1.8
2005 2.0 -2.2
2006 1.8 -2.2
2007 2.0 -2.0
2008 1.9 -2.1
2009 2.2 -3.1
2010 1.7 -3.2
2011 1.4 -3.0
2012 1.0 -3.2
2013 0.6 -3.1
2014 0.1 -2.9
2015 -0.5 -2.7
2016 -0.4 -2.9
2017 -0.5 -2.8
2018 -0.6 -2.4
2019 -0.8 -2.4
2020 -1.0 -2.3
2021 -1.1 -2.0
2022 -1.3 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for TN Political Subdivisions benefit descriptions.