Washington Teachers Plan 2/3 Basics

  • Established 1977
  • 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, Washington Teachers Plan 2/3, 2001-2019

Fiscal Year Net Assets (billions)
2001 3.3
2002 3.1
2003 3.2
2004 3.7
2005 4.3
2006 5.0
2007 6.2
2008 6.0
2009 4.8
2010 5.5
2011 6.8
2012 7.1
2013 8.1
2014 9.8
2015 10.4
2016 10.8
2017 12.5
2018 14.0
2019 15.9

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Washington Teachers Plan 2/3 US State and Local Pensions
2001 57.3 2.4
2002 48.5 2.4
2003 40.9 2.3
2004 34.0 2.2
2005 28.5 2.1
2006 24.1 2.1
2007 21.7 2.0
2008 18.5 2.0
2009 16.0 1.9
2010 13.6 1.8
2011 11.2 1.7
2012 9.1 1.6
2013 7.6 1.5
2014 6.6 1.5
2015 5.7 1.4
2016 5.2 1.4
2017 4.7 1.4
2018 4.3 1.4
2019 4.3 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 Washington Teachers Plan 2/3, 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 3.0 0.0 5.9 1.7 1.7
2002 1.9 0.8 5.5 2.6 2.6
2003 0.7 2.2 6.3 2.9 2.9
2004 1.0 2.3 7.8 3.3 3.3
2005 1.1 2.7 9.5 3.8 3.8
2006 2.3 2.8 10.5 5.2 5.2
2007 3.1 2.0 11.4 5.1 5.1
2008 3.0 2.8 11.9 5.8 5.8
2009 4.1 0.7 12.2 4.7 4.7
2010 4.2 1.4 14.7 5.6 5.6
2011 4.1 1.6 16.7 5.7 5.7
2012 5.2 0.5 17.7 5.7 5.7
2013 5.4 0.1 19.0 5.5 5.5
2014 5.6 0.1 19.8 5.7 5.7
2015 5.7 0.0 20.3 5.8 5.8
2016 6.3 1.3 20.3 7.6 7.6
2017 6.7 0.9 20.4 7.6 7.6
2018 7.6 0.7 21.1 8.3 8.3
2019 7.8 0.5 21.7 8.3 8.3

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Washington Teachers Plan 2/3, 2001-2019

Fiscal Year Washington Teachers Plan 2/3 National Data
2001 197.4 105.5
2002 182.3 96.9
2003 163.6 93.1
2004 152.6 89.4
2005 134.5 85.5
2006 133.4 84.8
2007 130.4 85.3
2008 125.4 83.7
2009 118.2 78.6
2010 115.5 75.5
2011 113.4 72.8
2012 114.1 69.9
2013 104.9 68.9
2014 94.0 70.5
2015 92.0 70.7
2016 89.0 70.2
2017 91.0 70.8
2018 90.0 72.0
2019 90.0 71.3

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 Washington Teachers Plan 2/3, 2019

Category Percent
Equities 33.4
Fixed Income 21.5
Private Equity 21.5
Real Estate 18.3
Cash 0.1
Other 0.0
Commodities 5.1
Hedge Fund 0.1
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Washington Teachers Plan 2/3, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 51.0 25.6 13.4 8.5 1.3 0.0 0.0 0.0 0.0
2002 48.3 28.0 13.2 9.2 1.3 0.0 0.0 0.0 0.0
2003 47.7 27.3 14.4 9.4 1.2 0.0 0.0 0.0 0.0
2004 50.0 25.6 12.0 9.4 1.1 0.0 0.0 0.0 0.0
2005 49.2 26.0 14.6 9.3 1.0 0.0 0.0 0.0 0.0
2006 47.8 24.1 16.8 10.5 0.9 0.0 0.0 0.0 0.0
2007 47.1 23.5 18.3 11.0 0.1 0.0 0.0 0.1 0.0
2008 38.7 23.4 22.3 14.0 0.1 0.0 0.7 0.9 0.0
2009 36.0 23.2 21.2 17.5 0.2 0.0 1.1 0.8 0.0
2010 34.7 21.9 25.8 14.2 1.4 0.0 1.2 0.8 0.0
2011 36.8 19.6 25.1 13.8 1.6 0.0 1.2 2.0 0.0
2012 36.0 22.2 26.0 13.7 0.2 0.0 1.4 0.6 0.0
2013 37.7 22.6 23.8 13.6 0.2 0.0 1.5 0.5 0.0
2014 38.0 25.1 22.3 12.4 0.2 0.0 1.6 0.4 0.0
2015 37.3 23.8 22.0 14.5 0.2 0.0 2.0 0.3 0.0
2016 38.0 22.0 21.0 15.8 0.3 0.0 2.9 0.1 0.0
2017 39.4 19.3 20.4 17.0 0.1 0.0 3.8 0.0 0.0
2018 34.2 23.5 20.6 17.2 0.1 0.0 4.4 0.0 0.0
2019 33.4 21.5 21.5 18.3 0.1 0.0 5.1 0.1 0.0

Source: Public Plans Database


Annual Return as of June 30 for Washington Teachers Plan 2/3, 2001-2019

Fiscal Year Washington Teachers Plan 2/3 Assumed return
2001 -5.96 8.00
2002 -6.40 8.00
2003 4.15 8.00
2004 16.06 8.00
2005 13.34 8.00
2006 16.69 8.00
2007 21.33 8.00
2008 -1.24 8.00
2009 -22.84 8.00
2010 13.22 8.00
2011 21.14 7.90
2012 1.40 7.90
2013 12.36 7.80
2014 17.06 7.80
2015 4.93 7.70
2016 2.65 7.70
2017 13.44 7.50
2018 10.20 7.50
2019 8.36 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Washington Teachers Plan 2/3
2001-2019

Fiscal Year Cash Flow Assets
2001 63.5 3,266.1
2002 34.0 3,079.1
2003 0.7 3,219.5
2004 13.4 3,740.5
2005 13.3 4,258.0
2006 56.0 5,030.0
2007 80.3 6,192.0
2008 -85.5 6,036.8
2009 131.3 4,789.3
2010 123.8 5,547.3
2011 111.9 6,839.9
2012 146.8 7,087.2
2013 141.6 8,109.2
2014 136.8 9,791.3
2015 128.1 10,378.8
2016 156.4 10,800.3
2017 181.1 12,524.2
2018 241.7 13,974.0
2019 255.8 15,945.0

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Washington Teachers Plan 2/3
2001-2019

Fiscal Year Washington Teachers Plan 2/3 National Average
2001 1.9 -2.4
2002 1.1 -3.3
2003 0.0 -3.6
2004 0.4 -3.4
2005 0.3 -3.5
2006 1.1 -3.3
2007 1.3 -3.1
2008 -1.4 -4.0
2009 2.7 -4.9
2010 2.2 -4.9
2011 1.6 -4.2
2012 2.1 -4.3
2013 1.7 -4.3
2014 1.4 -3.4
2015 1.2 -3.2
2016 1.4 -3.5
2017 1.4 -3.3
2018 1.7 -3.1
2019 1.6 -3.1

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Washington Teachers Plan 2/3 benefit descriptions.