Fairfax County Schools Basics

  • Established 1973
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Fairfax County Schools, 2001-2023

Fiscal Year Net Assets (billions)
2001 1.49
2002 1.37
2003 1.35
2004 1.53
2005 1.65
2006 1.77
2007 2.02
2008 1.86
2009 1.44
2010 1.61
2011 1.89
2012 1.83
2013 1.96
2014 2.20
2015 2.18
2016 2.11
2017 2.30
2018 2.45
2019 2.52
2020 2.59
2021 3.27
2022 3.00
2023 3.08

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year Fairfax County Schools US State and Local Pensions
2001 2.8 2.4
2002 2.5 2.3
2003 2.6 2.2
2004 2.6 2.1
2005 2.5 2.1
2006 2.5 2.0
2007 2.4 2.0
2008 2.3 1.9
2009 2.3 1.9
2010 2.3 1.8
2011 2.2 1.7
2012 2.2 1.6
2013 2.2 1.5
2014 2.1 1.4
2015 2.0 1.4
2016 2.0 1.4
2017 1.9 1.4
2018 1.9 1.3
2019 1.8 1.3
2020 1.8 1.3
2021 1.7 1.2
2022 1.7 1.2
2023 1.7 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 Fairfax County Schools, 2006-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2006 3.3 0.0 10.5 3.3
2007 3.3 0.0 11.4 3.3
2008 3.3 0.0 11.9 3.3
2009 3.3 0.0 12.1 3.1
2010 3.1 0.0 14.7 2.9
2011 4.0 0.0 16.7 4.0
2012 4.2 0.0 17.7 4.1
2013 5.3 0.0 19.0 5.3
2014 5.6 0.0 19.8 5.5
2015 5.4 0.0 20.3 5.5
2016 5.6 0.0 20.4 5.5
2017 5.6 0.0 20.5 5.6
2018 6.2 0.1 20.9 6.4
2019 6.3 0.0 21.3 6.3
2020 6.4 0.0 20.5 6.4
2021 6.4 0.0 21.5 6.4
2022 6.7 0.0 21.6 6.7
2023 6.7 0.0 23.0 6.7

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Fairfax County Schools, 2001-2023

Fiscal Year Fairfax County Schools National Data
2001 103.0 101.7
2002 95.6 94.6
2003 90.1 88.8
2004 null 87.0
2005 84.9 85.4
2006 84.9 85.2
2007 86.4 86.3
2008 88.0 84.4
2009 76.9 78.4
2010 75.6 75.7
2011 76.5 74.3
2012 75.6 72.3
2013 75.4 71.8
2014 76.7 73.2
2015 77.7 73.2
2016 76.0 71.6
2017 75.2 72.0
2018 75.7 72.4
2019 74.0 72.5
2020 74.5 72.6
2021 76.6 75.8
2022 78.0 76.2
2023 74.3 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Fairfax County Schools, 2023

Category Percent
Equities 39.7
Fixed Income 25.0
Private Equity 0.0
Real Estate 9.0
Cash 0.0
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 26.3

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Fairfax County Schools, 2006-2023

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2006 64.5 27.3 0.0 8.2 0.0 0.0 0.0 0.0 0.0
2007 66.7 25.8 0.0 7.5 0.0 0.0 0.0 0.0 0.0
2008 49.1 25.9 0.0 8.0 0.0 0.0 0.0 17.0 0.0
2009 47.4 27.7 0.0 6.3 0.0 0.0 0.0 18.5 0.0
2010 45.5 26.8 0.0 7.2 0.0 0.0 0.0 20.5 0.0
2011 46.2 24.7 0.5 7.4 0.0 0.0 0.0 21.2 0.0
2012 39.1 28.9 0.9 7.8 0.0 0.0 0.0 23.3 0.0
2013 41.3 27.3 1.4 7.8 0.1 0.0 0.0 22.1 0.0
2014 40.0 27.5 1.6 7.7 0.1 0.0 0.0 23.1 0.0
2015 39.3 27.6 2.1 7.8 0.1 0.0 0.0 23.2 0.0
2016 35.9 29.4 2.9 8.6 0.1 0.0 0.0 23.1 0.0
2017 42.4 27.6 3.0 7.8 0.1 0.0 0.0 19.1 0.0
2018 39.6 28.7 3.6 8.2 0.1 0.0 0.0 19.8 0.0
2019 38.1 28.9 4.6 8.6 0.2 0.0 0.0 19.7 0.0
2020 40.8 27.7 5.5 6.7 2.3 0.0 0.0 17.0 0.0
2021 45.3 25.3 7.3 4.7 2.5 0.0 0.0 15.0 0.0
2022 38.0 26.0 0.0 8.0 0.0 0.0 0.0 0.0 28.0
2023 39.7 25.0 0.0 9.0 0.0 0.0 0.0 0.0 26.3

Source: Public Plans Database

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Annual Return as of June 30 for Fairfax County Schools, 2001-2023

Fiscal Year Fairfax County Schools Assumed return
2001 -0.30 7.50
2002 -4.40 7.50
2003 3.10 7.50
2004 18.00 7.50
2005 11.70 7.50
2006 10.90 7.50
2007 17.70 7.50
2008 -4.40 7.50
2009 -19.20 7.50
2010 17.10 7.50
2011 22.10 7.50
2012 0.40 7.50
2013 11.20 7.50
2014 16.20 7.50
2015 2.00 7.50
2016 -0.30 7.50
2017 12.30 7.25
2018 8.10 7.25
2019 4.70 7.25
2020 4.70 7.25
2021 26.80 7.25
2022 -8.70 7.00
2023 5.10 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Fairfax County Schools
2001-2023

Fiscal Year Cash Flow Assets
2001 -38.9 1,488.8
2002 -50.3 1,369.4
2003 -52.4 1,349.8
2004 -55.5 1,528.1
2005 -48.9 1,647.7
2006 -51.1 1,766.5
2007 -54.9 2,015.7
2008 -60.3 1,858.6
2009 -59.5 1,441.4
2010 -65.3 1,607.7
2011 -62.4 1,887.0
2012 -60.8 1,827.8
2013 -61.9 1,956.8
2014 -56.5 2,204.9
2015 -57.3 2,179.7
2016 -56.4 2,107.6
2017 -54.3 2,304.3
2018 -46.1 2,446.3
2019 -42.6 2,521.4
2020 -36.5 2,593.4
2021 -42.0 3,272.2
2022 -42.0 2,997.9
2023 -42.0 3,076.7

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
Fairfax County Schools
2001-2023

Fiscal Year Fairfax County Schools National Average
2001 -2.6 -2.0
2002 -3.7 -2.4
2003 -3.9 -2.5
2004 -3.6 -1.8
2005 -3.0 -2.2
2006 -2.9 -2.2
2007 -2.7 -2.0
2008 -3.2 -2.1
2009 -4.1 -3.1
2010 -4.1 -3.2
2011 -3.3 -3.0
2012 -3.3 -3.2
2013 -3.2 -3.1
2014 -2.6 -2.9
2015 -2.6 -2.7
2016 -2.7 -2.9
2017 -2.4 -2.8
2018 -1.9 -2.4
2019 -1.7 -2.4
2020 -1.4 -2.3
2021 -1.3 -2.0
2022 -1.4 -1.9
2023 -1.4 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Fairfax County Schools benefit descriptions.