Maine State and Teacher Basics

  • Established 1942
  • 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, Maine State and Teacher, 2001-2023

Fiscal Year Net Assets (billions)
2001 5.57
2002 5.17
2003 5.46
2004 6.37
2005 7.05
2006 7.56
2007 8.73
2008 8.37
2009 6.65
2010 7.29
2011 8.74
2012 8.51
2013 9.15
2014 10.41
2015 10.24
2016 9.96
2017 10.89
2018 11.63
2019 12.04
2020 12.04
2021 14.90
2022 14.57
2023 15.07

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year Maine State and Teacher US State and Local Pensions
2001 1.9 2.4
2002 1.9 2.3
2003 1.8 2.2
2004 1.8 2.1
2005 1.7 2.1
2006 1.7 2.0
2007 1.6 2.0
2008 1.5 1.9
2009 1.5 1.9
2010 1.4 1.8
2011 1.3 1.7
2012 1.3 1.6
2013 1.3 1.5
2014 1.2 1.4
2015 1.2 1.4
2016 1.2 1.4
2017 1.1 1.4
2018 1.1 1.3
2019 1.1 1.3
2020 1.1 1.3
2021 1.1 1.2
2022 1.0 1.2
2023 1.0 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 Maine State and Teacher, 2001-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 18.7 0.0 9.3 18.7
2002 17.2 0.0 9.8 17.2
2003 18.3 0.0 11.4 17.5
2004 18.4 0.0 14.0 17.0
2005 18.0 0.0 14.4 17.1
2006 19.9 0.0 14.5 18.8
2007 18.9 0.0 14.6 18.9
2008 18.7 0.0 14.1 18.7
2009 19.1 0.0 14.4 19.1
2010 19.6 0.0 17.2 18.9
2011 20.2 0.0 18.4 19.9
2012 14.6 0.0 20.4 14.6
2013 15.8 0.0 21.1 15.8
2014 17.8 0.0 20.3 17.8
2015 17.8 0.0 20.1 17.8
2016 16.6 0.0 20.2 16.6
2017 16.8 0.0 21.1 16.8
2018 18.0 0.0 22.9 18.0
2019 18.2 0.0 24.3 18.2
2020 20.0 0.0 24.1 20.0
2021 20.0 0.0 23.6 20.0
2022 19.7 0.0 24.2 19.7
2023 19.8 0.0 23.2 19.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Maine State and Teacher, 2001-2023

Fiscal Year Maine State and Teacher National Data
2001 73.1 101.7
2002 69.6 94.6
2003 67.6 88.8
2004 68.5 87.0
2005 69.8 85.4
2006 71.3 85.2
2007 74.1 86.3
2008 74.1 84.4
2009 67.7 78.4
2010 66.0 75.7
2011 77.6 74.3
2012 77.0 72.3
2013 77.7 71.8
2014 81.4 73.2
2015 82.2 73.2
2016 80.4 71.6
2017 80.9 72.0
2018 81.4 72.4
2019 89.1 72.5
2020 89.8 72.6
2021 90.7 75.8
2022 92.6 76.2
2023 93.9 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Maine State and Teacher, 2023

Category Percent
Equities 25.7
Fixed Income 12.5
Private Equity 19.1
Real Estate 10.1
Cash 0.2
Other 0.0
Commodities 17.3
Hedge Fund 15.1
Misc. Alternatives 0.0

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 Maine State and Teacher, 2001-2023

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 62.6 37.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 61.4 38.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 66.7 33.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 66.7 33.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2005 65.0 34.0 0.0 1.0 0.0 0.0 0.0 0.0 0.0
2006 66.0 31.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0
2007 68.0 27.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0
2008 60.7 33.2 0.0 5.0 0.8 0.0 0.3 0.0 0.0
2009 59.7 28.9 0.0 4.1 0.1 0.0 0.4 6.8 0.0
2010 58.6 29.9 0.1 3.7 1.1 0.0 1.1 5.5 0.0
2011 62.2 27.1 0.5 4.1 0.8 0.0 1.4 3.9 0.0
2012 58.7 29.0 1.1 5.9 0.1 0.0 2.2 3.0 0.0
2013 58.7 25.6 1.9 5.7 0.5 0.0 2.6 5.0 0.0
2014 57.8 23.5 2.9 7.3 0.2 0.0 3.3 5.0 0.0
2015 51.9 23.6 4.9 9.7 0.1 0.0 4.9 4.9 0.0
2016 42.1 24.7 7.6 10.5 0.3 0.0 9.8 4.9 0.0
2017 40.0 23.9 10.9 9.2 0.4 0.0 10.8 4.9 0.0
2018 33.3 19.4 13.2 8.9 0.6 0.0 14.6 10.0 0.0
2019 30.8 16.0 15.0 9.4 0.5 0.0 16.6 11.7 0.0
2020 32.6 13.0 15.8 9.5 0.4 0.0 15.8 12.9 0.0
2021 30.5 15.3 19.6 8.1 0.6 0.0 14.6 11.3 0.0
2022 25.0 13.6 20.7 10.1 0.7 0.0 15.9 14.0 0.0
2023 25.7 12.5 19.1 10.1 0.2 0.0 17.3 15.1 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Maine State and Teacher, 2001-2023

Fiscal Year Maine State and Teacher Assumed return
2001 -7.80 8.00
2002 -7.50 8.00
2003 5.30 8.00
2004 16.60 8.00
2005 11.80 8.00
2006 7.50 7.75
2007 16.20 7.75
2008 -3.10 7.75
2009 -18.80 7.75
2010 11.10 7.75
2011 22.40 7.25
2012 0.60 7.25
2013 11.10 7.25
2014 16.70 7.13
2015 2.00 7.13
2016 0.60 6.88
2017 12.50 6.88
2018 10.30 6.75
2019 7.30 6.88
2020 1.80 6.75
2021 26.50 6.75
2022 3.30 6.50
2023 4.70 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)
Maine State and Teacher
2001-2023

Fiscal Year Cash Flow Assets
2001 43.5 5,566.8
2002 178.2 5,166.3
2003 31.9 5,459.6
2004 18.2 6,365.8
2005 -21.5 7,047.3
2006 -18.2 7,555.5
2007 -52.0 8,728.3
2008 -91.0 8,369.3
2009 -130.5 6,652.8
2010 -123.7 7,288.3
2011 -149.2 8,735.6
2012 -272.4 8,510.1
2013 -291.7 9,151.6
2014 -273.2 10,405.9
2015 -287.4 10,242.1
2016 -322.3 9,960.3
2017 -323.1 10,893.3
2018 -338.9 11,632.2
2019 -365.6 12,035.6
2020 -344.9 12,044.9
2021 -336.3 14,900.7
2022 -252.6 14,568.7
2023 -377.4 15,073.2

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
Maine State and Teacher
2001-2023

Fiscal Year Maine State and Teacher National Average
2001 0.8 -2.0
2002 3.4 -2.4
2003 0.6 -2.5
2004 0.3 -1.8
2005 -0.3 -2.2
2006 -0.2 -2.2
2007 -0.6 -2.0
2008 -1.1 -2.1
2009 -2.0 -3.1
2010 -1.7 -3.2
2011 -1.7 -3.0
2012 -3.2 -3.2
2013 -3.2 -3.1
2014 -2.6 -2.9
2015 -2.8 -2.7
2016 -3.2 -2.9
2017 -3.0 -2.8
2018 -2.9 -2.4
2019 -3.0 -2.4
2020 -2.9 -2.3
2021 -2.3 -2.0
2022 -1.7 -1.9
2023 -2.5 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Maine State and Teacher benefit descriptions.