DC Teachers Basics

  • Established 1979
  • Currently open to new hires
  • Plan covers teachers
  • Plan members not covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, DC Teachers, 2001-2022

Fiscal Year Net Assets (billions)
2001 0.78
2002 0.73
2003 0.87
2004 0.99
2005 1.14
2006 1.28
2007 1.52
2008 1.26
2009 1.20
2010 1.32
2011 1.34
2012 1.50
2013 1.62
2014 1.75
2015 1.67
2016 1.82
2017 2.07
2018 2.18
2019 2.26
2020 2.41
2021 2.94
2022 2.57

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year DC Teachers US State and Local Pensions
2001 8.1 2.4
2002 6.2 2.3
2003 4.2 2.2
2004 3.2 2.1
2005 2.8 2.1
2006 2.3 2.0
2007 2.1 2.0
2008 2.0 1.9
2009 1.7 1.9
2010 1.6 1.8
2011 1.5 1.7
2012 1.4 1.6
2013 1.3 1.5
2014 1.2 1.4
2015 1.3 1.4
2016 1.3 1.4
2017 1.3 1.4
2018 1.3 1.3
2019 1.3 1.3
2020 1.4 1.3
2021 1.5 1.2
2022 1.5 1.2
2023 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 DC Teachers, 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 2.1 0.0 9.3 2.1
2002 0.3 0.0 9.8 0.3
2003 0.0 0.0 11.4 0.0
2004 0.9 0.0 14.0 0.9
2005 3.1 0.0 14.4 3.1
2006 4.9 0.0 14.5 4.9
2007 4.5 0.0 14.6 4.5
2008 1.7 0.0 14.1 1.7
2009 0.0 0.0 14.4 0.0
2010 0.0 0.0 17.2 0.0
2011 0.0 0.0 18.4 0.0
2012 0.0 0.0 20.4 0.0
2013 1.7 0.0 21.1 1.7
2014 8.3 0.0 20.3 8.3
2015 9.5 0.0 20.1 9.5
2016 10.2 0.0 20.2 10.2
2017 12.7 0.0 21.1 12.7
2018 12.5 0.0 22.9 12.5
2019 11.4 0.0 24.3 11.4
2020 12.0 0.0 24.1 12.0
2021 13.1 0.0 23.6 13.1
2022 13.0 0.0 24.2 13.0

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for DC Teachers, 2001-2023

Fiscal Year DC Teachers National Data
2001 null 101.7
2002 null 94.6
2003 217.2 88.8
2004 null 87.0
2005 null 85.4
2006 111.2 85.2
2007 111.6 86.3
2008 108.2 84.4
2009 110.8 78.4
2010 118.3 75.7
2011 101.9 74.3
2012 94.4 72.3
2013 90.1 71.8
2014 88.6 73.2
2015 88.7 73.2
2016 90.9 71.6
2017 92.5 72.0
2018 93.0 72.4
2019 91.1 72.5
2020 92.1 72.6
2021 99.5 75.8
2022 98.8 76.2
2023 91.8 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for DC Teachers, 2022

Category Percent
Equities 45.0
Fixed Income 28.0
Private Equity 11.0
Real Estate 8.0
Cash 1.0
Other 0.0
Commodities 6.0
Hedge Fund 1.0
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 DC Teachers, 2001-2022

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 53.6 34.9 0.0 0.0 11.6 0.0 0.0 0.0 0.0
2002 53.2 41.6 3.9 0.1 1.2 0.0 0.0 0.0 0.0
2003 64.1 31.7 3.0 0.0 1.2 0.0 0.0 0.0 0.0
2004 67.6 28.3 2.8 0.0 1.3 0.0 0.0 0.0 0.0
2005 69.9 24.7 3.0 1.6 0.8 0.0 0.0 0.0 0.0
2006 68.3 22.4 5.1 4.0 0.2 0.0 0.0 0.0 0.0
2007 68.9 19.5 6.2 5.2 0.2 0.0 0.0 0.0 0.0
2008 55.5 23.4 13.3 7.6 0.2 0.0 0.0 0.0 0.0
2009 54.4 25.3 13.3 5.2 1.8 0.0 0.0 0.0 0.0
2010 54.5 24.2 14.5 4.5 2.3 0.0 0.0 0.0 0.0
2011 48.0 27.5 9.8 4.9 1.0 0.0 2.0 6.9 0.0
2012 52.0 27.0 8.0 0.0 1.0 0.0 7.0 5.0 0.0
2013 52.9 28.0 7.0 0.0 1.0 0.0 6.0 5.1 0.0
2014 54.0 29.9 5.9 0.0 0.2 0.0 5.6 4.4 0.0
2015 52.2 30.8 5.2 0.0 0.9 0.0 6.2 4.7 0.0
2016 54.9 29.7 4.5 0.0 0.4 0.0 6.5 4.0 0.0
2017 52.9 30.4 4.0 0.0 0.8 0.0 8.1 3.8 0.0
2018 52.9 30.4 4.0 0.0 0.8 0.0 8.1 3.8 0.0
2019 54.0 32.0 5.0 0.0 1.0 0.0 8.0 0.0 0.0
2020 53.2 32.4 6.6 0.0 0.0 0.0 7.8 0.0 0.0
2021 49.0 30.0 8.0 7.0 1.0 0.0 3.0 2.0 0.0
2022 45.0 28.0 11.0 8.0 1.0 0.0 6.0 1.0 0.0

Source: Public Plans Database

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Annual Return as of September 30 for DC Teachers, 2001-2022

Fiscal Year DC Teachers Assumed return
2001 -11.70 7.25
2002 -7.90 7.25
2003 16.30 7.25
2004 11.90 7.25
2005 13.90 7.25
2006 10.40 7.25
2007 16.80 7.50
2008 -16.90 7.00
2009 -2.20 7.00
2010 10.30 7.00
2011 2.90 7.00
2012 14.50 6.50
2013 11.30 6.50
2014 8.40 6.50
2015 -3.90 6.50
2016 9.40 6.50
2017 13.10 6.50
2018 5.40 6.50
2019 3.90 6.50
2020 5.40 6.50
2021 20.90 6.25
2022 -12.50 6.25

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
DC Teachers
2001-2022

Fiscal Year Cash Flow Assets
2001 20.8 778.8
2002 20.6 733.4
2003 20.0 874.7
2004 16.7 994.3
2005 10.9 1,142.5
2006 16.5 1,279.1
2007 13.4 1,517.8
2008 -1.7 1,257.8
2009 -16.3 1,204.4
2010 -13.4 1,317.5
2011 -21.7 1,340.7
2012 -27.9 1,503.5
2013 -50.0 1,622.4
2014 -9.0 1,746.0
2015 -3.1 1,670.6
2016 -2.0 1,821.9
2017 8.2 2,070.6
2018 10.3 2,176.1
2019 2.4 2,264.5
2020 7.2 2,411.4
2021 19.2 2,944.9
2022 16.9 2,572.9

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
DC Teachers
2001-2022

Fiscal Year DC Teachers National Average
2001 2.7 -2.3
2002 2.8 -1.0
2003 2.3 -2.4
2004 1.7 -2.6
2005 1.0 -2.2
2006 1.3 -2.2
2007 0.9 -2.2
2008 -0.1 -2.9
2009 -1.4 -3.2
2010 -1.0 -3.2
2011 -1.6 -3.4
2012 -1.9 -3.3
2013 -3.1 -3.1
2014 -0.5 -2.9
2015 -0.2 -3.1
2016 -0.1 -3.2
2017 0.4 -2.9
2018 0.5 -3.1
2019 0.1 -3.1
2020 0.3 -2.8
2021 0.7 -2.5
2022 0.7 -2.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for DC Teachers benefit descriptions.