Minnesota Teachers Basics

  • Established 1931
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Minnesota Teachers, 2001-2019

Fiscal Year Net Assets (billions)
2001 15.90
2002 14.00
2003 13.60
2004 15.10
2005 15.93
2006 17.76
2007 19.94
2008 18.11
2009 13.83
2010 14.94
2011 17.30
2012 16.69
2013 18.02
2014 20.29
2015 20.21
2016 19.42
2017 21.26
2018 22.36
2019 22.88

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

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

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 5.0 0.0 5.9 2.8
2002 4.9 0.0 5.5 2.5
2003 5.1 0.0 6.3 2.3
2004 5.0 0.0 7.8 3.1
2005 5.1 0.0 9.5 3.3
2006 5.8 0.0 10.5 3.9
2007 5.9 0.6 11.4 6.5
2008 6.4 1.3 11.9 7.7
2009 6.4 3.0 12.2 9.4
2010 6.4 4.7 14.7 11.1
2011 6.4 3.7 16.7 10.0
2012 6.9 3.5 17.7 10.4
2013 7.4 4.4 19.0 11.8
2014 7.4 4.8 19.8 12.1
2015 7.9 3.6 20.3 11.5
2016 7.9 2.3 20.3 10.2
2017 7.9 3.2 20.4 11.0
2018 7.8 2.8 21.1 10.7
2019 8.1 1.4 21.8 9.4

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Minnesota Teachers, 2001-2019

Fiscal Year Minnesota Teachers National Data
2001 105.9 105.5
2002 105.3 96.9
2003 103.1 93.1
2004 100.0 89.4
2005 98.5 85.5
2006 92.1 84.8
2007 87.5 85.3
2008 82.0 83.7
2009 77.4 78.5
2010 78.5 75.5
2011 77.3 72.8
2012 73.0 69.9
2013 71.6 68.9
2014 74.1 70.5
2015 77.1 70.7
2016 75.6 70.2
2017 76.8 70.8
2018 76.9 72.0
2019 76.8 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 Minnesota Teachers, 2019

Category Percent
Equities 62.0
Fixed Income 20.3
Private Equity 0.0
Real Estate 0.0
Cash 3.2
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 14.5

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Minnesota Teachers, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 64.5 26.8 7.7 0.0 1.0 0.0 0.0 0.0 0.0
2002 63.8 27.4 8.2 0.0 0.6 0.0 0.0 0.0 0.0
2003 64.6 25.5 8.8 0.0 1.1 0.0 0.0 0.0 0.0
2004 65.2 23.0 0.0 0.0 3.7 0.0 0.0 0.0 8.1
2005 65.5 24.2 0.0 0.0 1.7 0.0 0.0 0.0 8.6
2006 63.5 23.4 0.0 0.0 3.3 0.0 0.0 0.0 9.7
2007 65.8 22.9 0.0 0.0 1.8 0.0 0.0 0.0 9.5
2008 61.9 24.4 0.0 0.0 1.1 0.0 0.0 0.0 12.6
2009 60.9 22.3 0.0 0.0 2.0 0.0 0.0 0.0 14.8
2010 57.8 24.9 0.0 0.0 2.0 0.0 0.0 0.0 15.3
2011 60.8 22.2 0.0 0.0 2.4 0.0 0.0 0.0 14.6
2012 60.1 22.3 0.0 0.0 1.9 0.0 0.0 0.0 15.7
2013 60.0 23.0 0.0 0.0 2.5 0.0 0.0 0.0 14.5
2014 61.4 23.4 0.0 0.0 2.6 0.0 0.0 0.0 12.6
2015 62.2 23.6 0.0 0.0 1.9 0.0 0.0 0.0 12.3
2016 60.4 24.7 0.0 0.0 2.1 0.0 0.0 0.0 12.8
2017 64.7 19.3 0.0 0.0 2.9 0.0 0.0 0.0 13.1
2018 60.5 24.2 0.0 0.0 1.6 0.0 0.0 0.0 13.8
2019 62.0 20.3 0.0 0.0 3.2 0.0 0.0 0.0 14.5

Source: Public Plans Database

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Annual Return as of June 30 for Minnesota Teachers, 2001-2019

Fiscal Year Minnesota Teachers Assumed return
2001 -7.10 null
2002 -8.20 null
2003 2.40 null
2004 16.50 6.97
2005 10.70 6.99
2006 12.30 6.94
2007 18.30 6.93
2008 -5.00 7.13
2009 -18.80 7.12
2010 15.20 7.21
2011 23.30 6.72
2012 2.40 6.70
2013 14.20 6.70
2014 18.60 8.41
2015 4.40 8.40
2016 -0.10 8.44
2017 15.10 8.47
2018 10.30 7.50
2019 7.30 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Minnesota Teachers
2001-2019

Fiscal Year Cash Flow Assets
2001 -605.7 15,902.3
2002 -671.8 13,997.8
2003 -692.2 13,601.6
2004 -714.5 15,095.8
2005 -746.0 15,928.6
2006 -890.6 17,764.5
2007 -886.5 19,938.9
2008 -909.8 18,107.0
2009 -959.0 13,833.8
2010 -985.5 14,939.5
2011 -1,030.4 17,303.6
2012 -1,000.9 16,689.9
2013 -984.6 18,019.3
2014 -987.2 20,293.7
2015 -961.9 20,214.1
2016 -1,001.6 19,424.4
2017 -1,024.0 21,258.1
2018 -1,058.7 22,362.1
2019 -1,067.4 22,876.1

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Minnesota Teachers
2001-2019

Fiscal Year Minnesota Teachers National Average
2001 -3.8 -2.4
2002 -4.8 -3.3
2003 -5.1 -3.6
2004 -4.7 -3.4
2005 -4.7 -3.5
2006 -5.0 -3.3
2007 -4.4 -3.1
2008 -5.0 -4.0
2009 -6.9 -4.9
2010 -6.6 -4.9
2011 -6.0 -4.2
2012 -6.0 -4.3
2013 -5.5 -4.3
2014 -4.9 -3.4
2015 -4.8 -3.2
2016 -5.2 -3.5
2017 -4.8 -3.3
2018 -4.7 -3.1
2019 -4.7 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Minnesota Teachers benefit descriptions.