Vermont Teachers Basics

  • Established 1947
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Vermont Teachers, 2001-2019

Fiscal Year Net Assets (billions)
2001 1.1
2002 1.1
2003 1.1
2004 1.2
2005 1.3
2006 1.4
2007 1.6
2008 1.5
2009 1.1
2010 1.3
2011 1.5
2012 1.5
2013 1.6
2014 1.7
2015 1.7
2016 1.6
2017 1.7
2018 1.8
2019 1.9

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Vermont Teachers US State and Local Pensions
2001 2.7 2.4
2002 2.6 2.4
2003 2.5 2.3
2004 2.4 2.2
2005 2.3 2.1
2006 2.2 2.1
2007 2.1 2.0
2008 1.9 2.0
2009 1.8 1.9
2010 1.7 1.8
2011 1.4 1.7
2012 1.4 1.6
2013 1.3 1.5
2014 1.2 1.5
2015 1.1 1.4
2016 1.1 1.4
2017 1.1 1.4
2018 1.1 1.4
2019 1.0 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 Vermont Teachers, 2001-2019

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 4.7 0.5 5.9 5.2 5.2
2002 4.9 0.4 5.5 5.3 5.3
2003 4.7 1.8 6.3 6.5 6.5
2004 5.4 3.8 7.8 9.2 9.2
2005 5.2 5.0 9.5 10.2 10.2
2006 4.9 6.4 10.5 11.3 11.3
2007 7.5 0.1 11.4 7.6 7.6
2008 7.6 0.0 11.9 7.7 7.7
2009 6.7 0.4 12.2 7.1 7.1
2010 7.5 0.0 14.7 7.4 7.4
2011 9.2 0.0 16.7 8.8 8.8
2012 10.0 0.0 17.7 9.1 9.1
2013 11.5 0.0 19.0 10.7 10.7
2014 12.8 0.0 19.8 12.1 12.1
2015 12.6 0.0 20.3 12.6 12.6
2016 13.1 0.0 20.3 13.0 13.0
2017 13.6 0.0 20.4 13.6 13.6
2018 18.7 0.0 21.1 14.4 14.4
2019 19.1 0.0 21.8 16.9 16.9

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Vermont Teachers, 2001-2019

Fiscal Year Vermont Teachers National Data
2001 89.0 105.5
2002 89.5 96.9
2003 89.6 93.1
2004 90.2 89.4
2005 90.7 85.5
2006 84.6 84.8
2007 84.9 85.3
2008 80.9 83.7
2009 65.4 78.5
2010 66.5 75.5
2011 63.8 72.8
2012 61.6 69.9
2013 60.5 68.9
2014 59.9 70.5
2015 58.6 70.7
2016 58.3 70.2
2017 53.0 70.8
2018 54.2 72.0
2019 54.3 71.5

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 Vermont Teachers, 2019

Category Percent
Equities 48.3
Fixed Income 34.6
Private Equity 4.9
Real Estate 6.4
Cash 0.1
Other 0.0
Commodities 0.0
Hedge Fund 5.6
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Vermont Teachers, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 null null null null null null null null null
2002 null null null null null null null null null
2003 61.8 29.1 0.0 8.3 0.0 0.8 0.0 0.0 0.0
2004 61.8 29.4 0.0 8.0 0.0 0.8 0.0 0.0 0.0
2005 60.7 29.9 0.4 8.9 0.0 0.0 0.0 0.0 0.0
2006 65.2 24.4 0.5 9.9 0.0 0.0 0.0 0.0 0.0
2007 57.0 24.4 0.3 8.3 0.1 0.0 0.0 9.9 0.0
2008 55.1 25.5 0.4 8.7 0.1 0.0 0.0 10.3 0.0
2009 58.9 18.8 0.3 6.0 0.4 0.0 0.0 15.6 0.0
2010 38.5 41.6 0.0 3.9 0.2 0.0 2.0 13.5 0.0
2011 35.6 37.3 0.0 4.4 0.0 0.0 2.2 20.4 0.0
2012 32.6 35.7 0.0 5.1 0.0 0.0 2.0 24.5 0.0
2013 32.8 32.3 0.3 5.5 0.0 0.0 3.7 25.3 0.0
2014 32.1 32.3 0.5 5.6 0.1 0.0 3.9 25.6 0.0
2015 33.1 36.0 0.9 5.6 0.0 0.0 3.0 21.4 0.0
2016 39.1 31.5 1.3 7.3 0.1 0.0 2.8 17.8 0.0
2017 44.4 32.8 1.6 7.4 0.0 0.0 0.0 13.5 0.0
2018 52.0 28.6 3.8 7.9 0.1 0.0 0.0 7.5 0.0
2019 48.3 34.6 4.9 6.4 0.1 0.0 0.0 5.6 0.0

Source: Public Plans Database


Annual Return as of June 30 for Vermont Teachers, 2001-2019

Fiscal Year Vermont Teachers Assumed return
2001 -1.60 8.50
2002 -4.70 8.50
2003 5.60 8.00
2004 15.70 8.00
2005 9.70 8.00
2006 10.40 8.25
2007 17.40 8.25
2008 -6.60 8.25
2009 -19.80 8.50
2010 17.90 8.25
2011 20.50 8.50
2012 2.20 8.50
2013 8.50 8.50
2014 14.20 8.50
2015 2.00 7.95
2016 1.40 7.95
2017 10.40 7.50
2018 6.70 7.50
2019 6.10 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Vermont Teachers
2001-2019

Fiscal Year Cash Flow Assets
2001 -13.1 1,138.5
2002 -15.1 1,066.5
2003 -19.9 1,099.1
2004 -19.8 1,245.7
2005 -27.2 1,333.5
2006 -33.5 1,430.8
2007 -28.1 1,647.2
2008 -35.8 1,501.3
2009 -48.9 1,145.1
2010 -48.5 1,305.3
2011 -46.4 1,520.8
2012 -53.9 1,491.6
2013 -57.7 1,554.4
2014 -61.3 1,705.4
2015 -44.7 1,653.9
2016 -52.1 1,620.9
2017 -55.5 1,738.6
2018 -31.8 1,832.4
2019 -37.3 1,904.5

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Vermont Teachers
2001-2019

Fiscal Year Vermont Teachers National Average
2001 -1.2 -2.4
2002 -1.4 -3.3
2003 -1.8 -3.6
2004 -1.6 -3.4
2005 -2.0 -3.5
2006 -2.3 -3.3
2007 -1.7 -3.1
2008 -2.4 -4.0
2009 -4.3 -4.9
2010 -3.7 -4.9
2011 -3.0 -4.2
2012 -3.6 -4.3
2013 -3.7 -4.3
2014 -3.6 -3.4
2015 -2.7 -3.2
2016 -3.2 -3.5
2017 -3.2 -3.3
2018 -1.7 -3.1
2019 -2.0 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Vermont Teachers benefit descriptions.