Kentucky Teachers Basics

  • Established 1940
  • 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, Kentucky Teachers, 2001-2018

Fiscal Year Net Assets (billions)
2001 12.5
2002 11.8
2003 12.0
2004 12.9
2005 13.5
2006 13.9
2007 15.5
2008 14.1
2009 11.5
2010 12.5
2011 15.1
2012 14.8
2013 16.1
2014 18.1
2015 18.0
2016 16.8
2017 18.7
2018 20.0

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Kentucky Teachers US State and Local Pensions
2001 1.7 2.7
2002 1.6 2.5
2003 2.0 2.5
2004 2.0 2.3
2005 1.9 2.2
2006 1.9 2.1
2007 1.9 2.1
2008 1.9 2.0
2009 1.8 2.0
2010 1.8 1.9
2011 1.7 1.8
2012 1.6 1.7
2013 1.6 1.7
2014 1.5 1.6
2015 1.5 1.6
2016 1.4 1.6
2017 1.4 1.5
2018 1.3 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 Kentucky Teachers, 2001-2018

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}
2001 11.9 0.0 9.7 11.9 11.9
2002 12.3 0.0 9.9 12.3 12.3
2003 12.9 0.0 11.3 12.9 12.9
2004 13.8 0.0 13.8 13.8 13.8
2005 13.2 1.0 14.4 14.2 14.2
2006 12.4 1.8 14.4 14.2 14.2
2007 14.6 2.0 14.5 16.6 16.6
2008 14.7 3.0 14.0 17.7 17.7
2009 13.7 4.8 14.3 18.5 18.5
2010 14.5 4.6 17.1 19.1 19.1
2011 30.1 0.0 18.3 19.7 19.7
2012 16.1 5.7 20.3 21.8 21.8
2013 16.4 6.7 20.9 23.1 23.1
2014 16.1 7.6 20.1 23.6 23.6
2015 15.9 10.1 20.4 26.0 26.0
2016 16.0 12.3 20.2 28.3 28.3
2017 29.8 0.4 21.2 30.2 30.2
2018 29.1 1.0 22.9 30.1 30.1

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Kentucky Teachers, 2001-2018

Fiscal Year Kentucky Teachers National Data
2001 90.8 91.0
2002 86.6 82.6
2003 83.5 77.3
2004 80.9 78.4
2005 76.3 77.2
2006 73.1 78.0
2007 71.9 80.7
2008 68.2 78.7
2009 63.6 70.1
2010 61.0 66.7
2011 57.4 65.8
2012 54.5 63.3
2013 51.9 63.7
2014 53.6 64.7
2015 55.3 65.1
2016 54.6 63.1
2017 56.4 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 Kentucky Teachers, 2018

Category Percent
Equities 64.0
Fixed Income 22.5
Private Equity 5.5
Real Estate 5.8
Cash 1.2
Other 0.0
Commodities 1.0
Hedge Fund 0.0
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 Kentucky Teachers, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 52.8 36.1 0.0 3.2 7.9 0.0 0.0 0.0 0.0
2002 49.5 38.8 0.0 3.3 8.5 0.0 0.0 0.0 0.0
2003 48.5 41.3 0.0 3.4 6.9 0.0 0.0 0.0 0.0
2004 55.7 33.6 0.0 3.0 7.7 0.0 0.0 0.0 0.0
2005 56.2 31.4 0.0 3.0 9.5 0.0 0.0 0.0 0.0
2006 61.4 30.0 0.0 2.9 5.7 0.0 0.0 0.0 0.0
2007 65.1 28.7 0.0 2.5 3.6 0.0 0.0 0.0 0.0
2008 63.9 30.8 0.7 3.0 1.6 0.0 0.0 0.0 0.0
2009 60.7 33.1 1.5 3.6 1.1 0.0 0.0 0.0 0.0
2010 59.7 33.6 1.7 3.3 1.7 0.0 0.0 0.0 0.0
2011 63.5 28.6 1.2 3.1 2.4 0.0 1.2 0.0 0.0
2012 63.1 27.0 1.8 4.0 2.9 0.0 1.2 0.0 0.0
2013 63.2 27.1 2.1 4.0 2.4 0.0 1.2 0.0 0.0
2014 63.2 26.8 2.6 4.1 2.3 0.0 1.0 0.0 0.0
2015 62.8 25.3 3.6 4.6 2.6 0.0 1.1 0.0 0.0
2016 62.1 25.0 4.4 5.6 1.7 0.0 1.2 0.0 0.0
2017 62.8 23.9 4.6 5.6 2.0 0.0 1.1 0.0 0.0
2018 64.0 22.5 5.5 5.8 1.2 0.0 1.0 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for Kentucky Teachers, 2001-2018

Fiscal Year Kentucky Teachers Assumed return
2001 -0.70 7.50
2002 -4.10 7.50
2003 4.80 7.50
2004 9.70 7.50
2005 7.50 7.50
2006 5.40 7.50
2007 15.30 7.50
2008 -5.70 7.50
2009 -14.30 7.50
2010 13.10 7.50
2011 21.60 7.50
2012 2.40 7.50
2013 14.10 7.50
2014 18.10 7.50
2015 5.10 7.50
2016 -1.00 7.50
2017 15.37 7.50
2018 10.81 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Kentucky Teachers
2001-2018

Fiscal Year Cash Flow Assets
2001 -201.8 12,510.4
2002 -227.4 11,762.8
2003 -258.8 12,042.5
2004 -281.1 12,919.6
2005 -345.6 13,520.0
2006 -385.9 13,851.4
2007 -419.4 15,492.5
2008 -436.8 14,076.7
2009 -540.1 11,515.4
2010 -568.5 12,456.6
2011 -87.0 15,130.6
2012 -643.2 14,797.1
2013 -728.2 16,108.8
2014 -819.5 18,092.6
2015 -905.6 18,049.1
2016 -991.1 16,812.8
2017 -580.9 18,707.7
2018 -679.3 19,981.6

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Kentucky Teachers
2001-2018

Fiscal Year Kentucky Teachers National Average
2001 -1.6 -0.9
2002 -1.9 -1.5
2003 -2.1 -1.6
2004 -2.2 -0.5
2005 -2.6 -2.0
2006 -2.8 -2.1
2007 -2.7 -2.1
2008 -3.1 -1.9
2009 -4.7 -3.4
2010 -4.6 -3.3
2011 -0.6 -3.2
2012 -4.3 -3.8
2013 -4.5 -3.7
2014 -4.5 -3.4
2015 -5.0 -3.2
2016 -5.9 -3.4
2017 -3.1 -2.9
2018 -3.4 -2.8

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Kentucky Teachers benefit descriptions.