West Virginia Teachers Basics

  • Established 1941
  • Currently closed 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, West Virginia Teachers, 2002-2019

Fiscal Year Net Assets (billions)
2002 1.10
2003 1.19
2004 1.43
2005 1.63
2006 2.17
2007 3.67
2008 3.38
2009 3.55
2010 4.14
2011 5.07
2012 5.14
2013 5.75
2014 6.68
2015 6.80
2016 6.54
2017 7.29
2018 7.72
2019 7.90

Source: Public Plans Database

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Number of Actives per Annuitant, 2002-2019

Fiscal Year West Virginia Teachers US State and Local Pensions
2002 0.9 2.4
2003 0.8 2.3
2004 0.7 2.2
2005 0.7 2.1
2006 0.7 2.1
2007 0.7 2.0
2008 1.2 2.0
2009 1.2 1.9
2010 1.2 1.8
2011 1.2 1.7
2012 1.1 1.6
2013 1.1 1.5
2014 1.1 1.5
2015 1.0 1.4
2016 1.0 1.4
2017 1.0 1.4
2018 0.9 1.4
2019 0.9 1.3

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 West Virginia Teachers, 2002-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2002 31.1 0.0 5.5 30.2
2003 34.4 0.5 6.3 34.9
2004 41.9 0.6 7.8 42.5
2005 48.0 0.0 9.5 45.5
2006 87.1 0.0 10.5 45.8
2007 179.2 0.0 11.4 39.5
2008 26.4 0.0 11.9 24.5
2009 25.4 1.5 12.2 27.0
2010 29.7 2.8 14.7 32.5
2011 33.3 0.0 16.7 31.3
2012 31.9 0.0 17.7 30.3
2013 32.6 0.0 19.0 32.3
2014 34.7 0.0 19.8 30.7
2015 29.7 0.0 20.3 27.6
2016 26.0 0.0 20.3 23.7
2017 28.4 0.0 20.4 26.1
2018 30.7 0.0 21.1 28.9
2019 29.4 0.0 21.8 26.4

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for West Virginia Teachers, 2002-2019

Fiscal Year West Virginia Teachers National Data
2002 19.2 96.9
2003 19.1 93.1
2004 22.2 89.4
2005 24.6 85.5
2006 31.6 84.8
2007 51.3 85.3
2008 50.0 83.7
2009 41.3 78.5
2010 46.5 75.5
2011 53.7 72.8
2012 53.0 69.9
2013 57.9 68.9
2014 66.2 70.5
2015 66.0 70.7
2016 65.4 70.2
2017 67.1 70.8
2018 69.6 72.0
2019 71.1 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.

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Investments

Asset Allocation for West Virginia Teachers, 2019

Category Percent
Equities 49.9
Fixed Income 12.8
Private Equity 11.8
Real Estate 10.1
Cash 0.0
Other 0.0
Commodities 0.0
Hedge Fund 15.5
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.0
Fixed Income 22.8
Private Equity 9.2
Real Estate 8.8
Cash 1.9
Other 0.0
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for West Virginia Teachers, 2002-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2002 57.0 36.0 0.0 0.0 7.0 0.0 0.0 0.0 0.0
2003 59.0 34.0 0.0 0.0 7.0 0.0 0.0 0.0 0.0
2004 58.0 36.0 0.0 0.0 6.0 0.0 0.0 0.0 0.0
2005 59.0 41.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2006 53.0 47.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2007 43.0 57.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2008 59.0 30.0 11.0 0.0 0.0 0.0 0.0 0.0 0.0
2009 50.8 30.0 7.8 0.5 0.0 0.0 0.0 10.9 0.0
2010 47.2 26.2 10.7 5.8 0.0 0.0 0.0 10.1 0.0
2011 48.6 30.6 9.9 2.4 0.0 0.0 0.0 8.5 0.0
2012 49.5 23.8 10.1 6.3 0.0 0.0 0.0 10.3 0.0
2013 50.1 22.4 9.5 8.0 0.0 0.0 0.0 10.0 0.0
2014 54.2 17.2 9.6 9.0 0.0 0.0 0.0 10.0 0.0
2015 53.6 15.7 9.7 10.4 0.0 0.0 0.0 10.6 0.0
2016 53.7 14.9 10.3 10.9 0.0 0.0 0.0 10.2 0.0
2017 52.3 15.4 10.3 10.6 0.0 0.0 0.0 11.4 0.0
2018 49.7 14.8 11.1 9.6 0.0 0.0 0.0 14.8 0.0
2019 49.9 12.8 11.8 10.1 0.0 0.0 0.0 15.5 0.0

Source: Public Plans Database

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Annual Return as of June 30 for West Virginia Teachers, 2002-2019

Fiscal Year West Virginia Teachers Assumed return
2002 -3.00 7.50
2003 4.80 7.50
2004 15.10 7.50
2005 10.60 7.50
2006 9.60 7.50
2007 17.40 7.50
2008 -7.70 7.50
2009 -16.10 7.50
2010 15.20 7.50
2011 20.50 7.50
2012 1.00 7.50
2013 13.00 7.50
2014 17.90 7.50
2015 4.00 7.50
2016 -0.10 7.50
2017 15.70 7.50
2018 9.70 7.50
2019 6.00 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
West Virginia Teachers
2002-2019

Fiscal Year Cash Flow Assets
2002 22.6 1,098.4
2003 25.1 1,191.2
2004 44.3 1,427.5
2005 38.4 1,627.4
2006 396.9 2,174.5
2007 1,120.9 3,666.0
2008 -19.3 3,378.5
2009 11.6 3,554.8
2010 15.6 4,143.5
2011 42.0 5,074.7
2012 -15.3 5,144.4
2013 -80.5 5,751.1
2014 -76.0 6,682.1
2015 -138.2 6,803.3
2016 -245.8 6,543.1
2017 -250.7 7,290.5
2018 -261.2 7,720.6
2019 -270.0 7,898.7

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
West Virginia Teachers
2002-2019

Fiscal Year West Virginia Teachers National Average
2002 2.1 -3.3
2003 2.1 -3.6
2004 3.1 -3.4
2005 2.4 -3.5
2006 18.3 -3.3
2007 30.6 -3.1
2008 -0.6 -4.0
2009 0.3 -4.9
2010 0.4 -4.9
2011 0.8 -4.2
2012 -0.3 -4.3
2013 -1.4 -4.3
2014 -1.1 -3.4
2015 -2.0 -3.2
2016 -3.8 -3.5
2017 -3.4 -3.3
2018 -3.4 -3.1
2019 -3.4 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for West Virginia Teachers benefit descriptions.