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, 2001-2018

Fiscal Year Net Assets (billions)
2001 5.6
2002 5.2
2003 5.5
2004 6.4
2005 7.0
2006 7.6
2007 8.7
2008 8.4
2009 6.7
2010 7.3
2011 8.7
2012 8.5
2013 9.2
2014 10.4
2015 10.2
2016 10.0
2017 10.9
2018 11.6

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Maine State and Teacher US State and Local Pensions
2001 1.9 2.7
2002 1.9 2.5
2003 1.8 2.5
2004 1.8 2.3
2005 1.7 2.2
2006 1.7 2.1
2007 1.6 2.1
2008 1.5 2.0
2009 1.5 2.0
2010 1.4 1.9
2011 1.3 1.8
2012 1.3 1.7
2013 1.3 1.7
2014 1.2 1.6
2015 1.2 1.6
2016 1.2 1.6
2017 1.1 1.5
2018 1.1 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 Maine State and Teacher, 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 18.7 0.0 9.7 18.7 18.7
2002 17.2 0.0 9.9 17.2 17.2
2003 18.3 0.0 11.3 17.5 17.5
2004 18.4 0.0 13.8 17.0 17.0
2005 18.0 0.0 14.4 17.1 17.1
2006 19.9 0.0 14.4 18.8 18.8
2007 18.9 0.0 14.5 18.9 18.9
2008 18.7 0.0 14.0 18.7 18.7
2009 19.1 0.0 14.3 19.1 19.1
2010 19.6 0.0 17.1 18.9 18.9
2011 20.2 0.0 18.3 19.9 19.9
2012 14.6 0.0 20.3 14.6 14.6
2013 15.8 0.0 20.9 15.8 15.8
2014 17.8 0.0 20.1 17.8 17.8
2015 17.3 0.0 20.4 17.3 17.3
2016 16.8 0.0 20.2 16.8 16.8
2017 17.0 0.0 21.2 17.0 17.0
2018 17.3 0.0 22.9 17.3 17.3

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Maine State and Teacher, 2001-2018

Fiscal Year Maine State and Teacher National Data
2001 73.1 91.0
2002 69.6 82.6
2003 67.6 77.3
2004 68.5 78.4
2005 69.8 77.2
2006 71.3 78.0
2007 74.1 80.7
2008 74.1 78.7
2009 67.7 70.1
2010 66.0 66.7
2011 77.6 65.8
2012 77.0 63.3
2013 77.7 63.7
2014 81.4 64.7
2015 82.2 65.1
2016 80.4 63.1
2017 80.9 63.8
2018 81.4 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 Maine State and Teacher, 2018

Category Percent
Equities 33.3
Fixed Income 19.4
Private Equity 13.2
Real Estate 8.9
Cash 0.6
Other 0.0
Commodities 14.6
Hedge Fund 10.0
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 Maine State and Teacher, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 62.5 37.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 61.3 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 66.0 33.0 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

Source: Public Plans Database


Annual Return as of June 30 for Maine State and Teacher, 2001-2018

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

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Maine State and Teacher
2001-2018

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 null 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

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Maine State and Teacher
2001-2018

Fiscal Year Maine State and Teacher National Average
2001 0.8 -0.9
2002 3.4 -1.5
2003 0.6 -1.6
2004 0.3 -0.5
2005 -0.3 -2.0
2006 -0.2 -2.1
2007 -0.6 -2.1
2008 -1.1 -1.9
2009 -2.0 -3.4
2010 -1.7 -3.3
2011 -1.7 -3.2
2012 -3.2 -3.8
2013 null -3.7
2014 -2.6 -3.4
2015 -2.8 -3.2
2016 -3.2 -3.4
2017 -3.0 -2.9
2018 -2.9 -2.8

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Maine State and Teacher benefit descriptions.