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, 2005-2019

Fiscal Year Net Assets (billions)
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

Source: Public Plans Database

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Number of Actives per Annuitant, 2005-2019

Fiscal Year Fairfax County Schools US State and Local Pensions
2005 2.5 2.1
2006 2.4 2.1
2007 2.3 2.0
2008 2.3 2.0
2009 2.3 1.9
2010 2.2 1.8
2011 2.2 1.7
2012 2.2 1.6
2013 2.1 1.5
2014 2.0 1.5
2015 2.0 1.4
2016 1.9 1.4
2017 1.9 1.4
2018 1.8 1.4
2019 null 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 Fairfax County Schools, 2005-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2005 3.3 0.0 9.5 3.3
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 12.2 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 5.2 0.0 19.0 5.2
2014 5.6 0.0 19.8 5.5
2015 5.5 0.0 20.3 5.6
2016 5.6 0.0 20.3 5.5
2017 5.6 0.0 20.4 5.6
2018 6.2 0.1 21.1 6.3
2019 6.2 0.0 21.8 6.2

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, 2005-2019

Fiscal Year Fairfax County Schools National Data
2005 84.9 85.5
2006 84.9 84.8
2007 86.4 85.3
2008 88.0 83.7
2009 76.9 78.5
2010 75.6 75.5
2011 76.5 72.8
2012 75.6 69.9
2013 75.4 68.9
2014 76.7 70.5
2015 77.7 70.7
2016 76.0 70.2
2017 75.2 70.8
2018 75.7 72.0
2019 74.0 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 Fairfax County Schools, 2019

Category Percent
Equities 38.1
Fixed Income 28.9
Private Equity 4.6
Real Estate 8.6
Cash 0.2
Other 0.0
Commodities 0.0
Hedge Fund 19.7
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 Fairfax County Schools, 2005-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2005 null null null null null null null null null
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

Source: Public Plans Database

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Annual Return as of June 30 for Fairfax County Schools, 2005-2019

Fiscal Year Fairfax County Schools Assumed return
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 7.25
2017 12.30 7.25
2018 8.10 7.25
2019 4.70 null

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
2005-2019

Fiscal Year Cash Flow Assets
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

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Fairfax County Schools
2005-2019

Fiscal Year Fairfax County Schools National Average
2005 -3.0 -3.5
2006 -2.9 -3.3
2007 -2.7 -3.1
2008 -3.2 -4.0
2009 -4.1 -4.9
2010 -4.1 -4.9
2011 -3.3 -4.2
2012 -3.3 -4.3
2013 -3.2 -4.3
2014 -2.6 -3.4
2015 -2.6 -3.2
2016 -2.7 -3.5
2017 -2.4 -3.3
2018 -1.9 -3.1
2019 -1.7 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Fairfax County Schools benefit descriptions.