Connecticut Teachers Basics

  • Established 1939
  • Currently open to new hires
  • Plan covers teachers
  • Plan members not covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Connecticut Teachers, 2002-2018

Fiscal Year Net Assets (billions)
2002 10.1
2003 9.9
2004 10.9
2005 11.4
2006 12.2
2007 13.8
2008 14.6
2009 11.4
2010 12.3
2011 14.2
2012 13.5
2013 14.5
2014 16.2
2015 16.1
2016 15.6
2017 17.1
2018 17.9

Source: Public Plans Database

Number of Actives per Annuitant, 2002-2018

Fiscal Year Connecticut Teachers US State and Local Pensions
2002 2.2 2.5
2003 2.1 2.5
2004 2.1 2.3
2005 2.0 2.2
2006 1.9 2.1
2007 1.9 2.1
2008 1.8 2.0
2009 1.7 2.0
2010 1.7 1.9
2011 1.6 1.8
2012 1.5 1.7
2013 1.5 1.7
2014 1.5 1.6
2015 1.5 1.6
2016 1.4 1.6
2017 1.4 1.5
2018 1.4 1.5

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 Connecticut Teachers, 2002-2018

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}
2002 7.6 0.2 9.9 7.8 7.8
2003 6.4 1.5 11.3 7.9 7.9
2004 6.3 2.9 13.8 9.2 9.2
2005 6.1 3.2 14.4 9.3 9.3
2006 12.6 0.0 14.4 12.6 12.6
2007 12.6 0.4 14.5 13.0 13.0
2008 74.1 0.0 14.0 15.3 15.3
2009 15.3 0.0 14.3 15.3 15.3
2010 15.3 0.0 17.1 15.3 15.3
2011 15.9 0.0 18.3 15.9 15.9
2012 20.7 0.0 20.3 20.7 20.7
2013 21.0 0.0 20.9 21.0 21.0
2014 24.8 0.0 20.1 24.8 24.8
2015 25.3 0.0 20.4 25.3 25.3
2016 24.7 0.0 20.2 24.7 24.7
2017 25.2 0.0 21.2 25.2 25.2
2018 31.2 0.0 22.9 31.2 31.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Connecticut Teachers, 2002-2018

Fiscal Year Connecticut Teachers National Data
2002 75.9 82.6
2003 70.4 77.3
2004 65.3 78.4
2005 62.3 77.2
2006 59.5 78.0
2007 65.4 80.7
2008 70.0 78.7
2009 65.6 70.1
2010 61.4 66.7
2011 58.2 65.8
2012 55.2 63.3
2013 57.2 63.7
2014 59.0 64.7
2015 57.4 65.1
2016 56.0 63.1
2017 56.9 63.8
2018 57.7 63.6

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 Connecticut Teachers, 2018

Category Percent
Equities 52.0
Fixed Income 22.5
Private Equity 6.7
Real Estate 6.5
Cash 5.2
Other 0.0
Commodities 0.0
Hedge Fund 7.1
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 Connecticut Teachers, 2002-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2002 47.6 37.7 12.2 2.5 0.0 0.0 0.0 0.0 0.0
2003 47.2 40.4 10.1 2.3 0.0 0.0 0.0 0.0 0.0
2004 58.3 29.2 8.9 1.8 1.8 0.0 0.0 0.0 0.0
2005 59.9 31.4 6.8 1.9 0.0 0.0 0.0 0.0 0.0
2006 62.9 29.4 6.0 1.7 0.0 0.0 0.0 0.0 0.0
2007 61.1 30.3 6.0 2.6 0.0 0.0 0.0 0.0 0.0
2008 55.8 28.3 6.8 3.7 5.4 0.0 0.0 0.0 0.0
2009 55.7 27.2 8.0 3.8 5.3 0.0 0.0 0.0 0.0
2010 54.5 24.6 9.3 3.6 8.0 0.0 0.0 0.0 0.0
2011 59.0 21.5 8.9 4.3 4.2 0.0 0.0 2.1 0.0
2012 56.0 21.3 10.9 5.6 3.9 0.0 0.0 2.3 0.0
2013 56.1 19.6 10.0 5.7 4.0 0.0 0.0 4.6 0.0
2014 55.2 20.1 10.1 5.0 5.2 0.0 0.0 4.4 0.0
2015 53.0 20.4 9.3 6.3 5.1 0.0 0.0 5.9 0.0
2016 51.2 22.1 9.1 7.6 4.0 0.0 0.0 6.0 0.0
2017 52.3 21.3 8.1 7.0 5.2 0.0 0.0 6.1 0.0
2018 52.0 22.5 6.7 6.5 5.2 0.0 0.0 7.1 0.0

Source: Public Plans Database


Annual Return as of June 30 for Connecticut Teachers, 2002-2018

Fiscal Year Connecticut Teachers Assumed return
2002 -6.39 8.50
2003 2.49 8.50
2004 15.34 8.50
2005 10.49 8.50
2006 10.74 8.50
2007 17.47 8.50
2008 -4.77 8.50
2009 -17.14 8.50
2010 12.87 8.50
2011 20.77 8.50
2012 -0.96 8.50
2013 11.83 8.50
2014 15.67 8.50
2015 2.79 8.50
2016 0.25 8.50
2017 14.38 8.25
2018 7.04 8.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Connecticut Teachers
2002-2018

Fiscal Year Cash Flow Assets
2002 -373.3 10,103.4
2003 -437.3 9,852.2
2004 -483.2 10,852.0
2005 -563.0 11,397.2
2006 -407.6 12,202.7
2007 -513.6 13,790.8
2008 1,468.5 14,554.5
2009 -615.5 11,410.7
2010 -616.4 12,284.3
2011 -649.9 14,152.2
2012 -525.0 13,482.1
2013 -578.0 14,462.9
2014 -532.7 16,207.8
2015 -611.5 16,120.1
2016 -622.7 15,594.9
2017 -662.1 17,134.3
2018 -412.4 17,946.8

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Connecticut Teachers
2002-2018

Fiscal Year Connecticut Teachers National Average
2002 -3.7 -1.5
2003 -4.4 -1.6
2004 -4.5 -0.5
2005 -4.9 -2.0
2006 -3.3 -2.1
2007 -3.7 -2.1
2008 10.1 -1.9
2009 -5.4 -3.4
2010 -5.0 -3.3
2011 -4.6 -3.2
2012 -3.9 -3.8
2013 -4.0 -3.7
2014 -3.3 -3.4
2015 -3.8 -3.2
2016 -4.0 -3.4
2017 -3.9 -2.9
2018 -2.3 -2.8

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Connecticut Teachers benefit descriptions.