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, 2006-2019

Fiscal Year Net Assets (billions)
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

Source: Public Plans Database

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Number of Actives per Annuitant, 2006-2019

Fiscal Year DC Teachers US State and Local Pensions
2006 2.3 2.1
2007 2.1 2.1
2008 2.0 2.0
2009 1.7 2.0
2010 1.6 1.9
2011 1.5 1.8
2012 1.4 1.7
2013 1.3 1.7
2014 1.2 1.6
2015 1.3 1.6
2016 1.3 1.6
2017 1.3 1.5
2018 1.3 1.5
2019 1.3 1.5

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, 2006-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2006 4.9 0.0 14.4 4.9
2007 4.5 0.0 14.5 4.5
2008 1.7 0.0 14.0 1.7
2009 0.0 0.0 14.3 0.0
2010 0.0 0.0 17.1 0.0
2011 0.0 0.0 18.3 0.0
2012 0.0 0.0 20.3 0.0
2013 1.7 0.0 20.9 1.7
2014 8.3 0.0 20.1 8.3
2015 9.5 0.0 20.4 9.5
2016 10.2 0.0 20.2 10.2
2017 12.7 0.0 21.2 12.7
2018 12.5 0.0 22.9 12.5
2019 10.3 0.0 24.8 10.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for DC Teachers, 2006-2019

Fiscal Year DC Teachers National Data
2006 111.2 78.0
2007 111.6 80.7
2008 108.2 78.7
2009 110.8 70.1
2010 118.3 66.7
2011 101.9 65.8
2012 94.4 63.3
2013 90.1 63.7
2014 88.6 64.7
2015 88.7 65.1
2016 90.9 63.1
2017 92.5 63.8
2018 93.0 63.6
2019 91.1 64.2

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 DC Teachers, 2019

Category Percent
Equities 54.0
Fixed Income 32.0
Private Equity 5.0
Real Estate 0.0
Cash 1.0
Other 0.0
Commodities 8.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

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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.

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Asset allocation for DC Teachers, 2006-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
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 54.4 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

Source: Public Plans Database

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Annual Return as of September 30 for DC Teachers, 2006-2019

Fiscal Year DC Teachers Assumed return
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

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
2006-2019

Fiscal Year Cash Flow Assets
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

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
DC Teachers
2006-2019

Fiscal Year DC Teachers National Average
2006 1.3 -2.1
2007 0.9 -2.1
2008 -0.1 -1.9
2009 -1.4 -3.4
2010 -1.0 -3.3
2011 -1.6 -3.2
2012 -1.9 -3.8
2013 -3.1 -3.8
2014 -0.5 -3.4
2015 -0.2 -3.2
2016 -0.1 -3.4
2017 0.4 -2.9
2018 0.5 -2.8
2019 0.1 -2.3

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for DC Teachers benefit descriptions.