The CPRB of West Virginia administers pension and other benefits for substantially all public employees in the state. The Board maintains a defined benefit plan for teachers (TRS) that was closed to new members from July 1, 1991 until reopening in 2005. Teachers hired during that period were enrolled in a defined contribution plan. In 2007, teachers in the DC plan were given an opportunity to switch to the TRS plan. The CPRB also administers the Public Employees Retirement System (PERS), a DB plan for state and local government employees; a judges' DB plan; and DB plans for state and local public safety personnel. Assets are managed by the state Investment Management Board.
West Virginia Consolidated Public Retirement Board Basics, by Plan
Source: Public Plans Database (as of 2021)
Note: West Virginia Consolidated Public Retirement Board has 6 other plans.
Assets
Assets at Year-End
West Virginia Consolidated Public Retirement Board
2003-2021
| Fiscal Year |
Net Assets (billions) |
| 2003 |
4.1 |
| 2004 |
4.8 |
| 2005 |
5.6 |
| 2006 |
6.5 |
| 2007 |
8.7 |
| 2008 |
8.0 |
| 2009 |
7.4 |
| 2010 |
8.5 |
| 2011 |
10.4 |
| 2012 |
10.5 |
| 2013 |
11.7 |
| 2014 |
13.5 |
| 2015 |
13.8 |
| 2016 |
13.4 |
| 2017 |
15.0 |
| 2018 |
15.9 |
| 2019 |
16.8 |
| 2020 |
16.8 |
| 2021 |
21.3 |
Membership
Ratio of Actives to Beneficiaries, 2003-2021
| Fiscal Year |
West Virginia Consolidated Public Retirement Board |
US State and Local Pensions |
| 2003 |
1.3 |
2.2 |
| 2004 |
1.2 |
2.1 |
| 2005 |
1.2 |
2.1 |
| 2006 |
1.2 |
2.0 |
| 2007 |
1.2 |
2.0 |
| 2008 |
1.2 |
1.9 |
| 2009 |
1.4 |
1.9 |
| 2010 |
1.4 |
1.8 |
| 2011 |
1.4 |
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 |
1.2 |
1.4 |
| 2018 |
1.1 |
1.3 |
| 2019 |
1.1 |
1.3 |
| 2020 |
1.1 |
1.3 |
| 2021 |
1.1 |
1.2 |
2021 Membership for West Virginia Consolidated Public Retirement Board
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 73,489 |
66,711 |
8,173 |
175,436 |
673 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
West Virginia Consolidated Public Retirement Board
2003-2021
| Fiscal Year |
Cash Flow |
Assets |
| 2003 |
21.3 |
4,107.5 |
| 2004 |
42.9 |
4,784.4 |
| 2005 |
257.3 |
5,562.4 |
| 2006 |
365.9 |
6,522.0 |
| 2007 |
1,053.7 |
8,710.8 |
| 2008 |
-99.0 |
8,024.0 |
| 2009 |
621.5 |
7,390.0 |
| 2010 |
-81.6 |
8,506.5 |
| 2011 |
-55.6 |
10,442.6 |
| 2012 |
-103.8 |
10,503.3 |
| 2013 |
-148.5 |
11,687.8 |
| 2014 |
-178.8 |
13,547.7 |
| 2015 |
-272.5 |
13,797.2 |
| 2016 |
-415.0 |
13,360.9 |
| 2017 |
-458.8 |
14,951.5 |
| 2018 |
-499.9 |
15,874.3 |
| 2019 |
-535.2 |
16,814.9 |
| 2020 |
-570.2 |
16,787.9 |
| 2021 |
-662.6 |
21,343.1 |
2021 Cash Flows for West Virginia Consolidated Public Retirement Board (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 822.6 |
1,485.2 |
5,217.8 |
4,555.2 |
Cash Flow as a Percentage of Assets
West Virginia Consolidated Public Retirement Board
2003-2021
| Fiscal Year |
West Virginia Consolidated Public Retirement Board |
National Average |
| 2003 |
0.5 |
-2.6 |
| 2004 |
0.9 |
-2.0 |
| 2005 |
4.6 |
-2.2 |
| 2006 |
5.6 |
-2.2 |
| 2007 |
12.1 |
-2.1 |
| 2008 |
-1.2 |
-2.3 |
| 2009 |
8.4 |
-3.1 |
| 2010 |
-1.0 |
-3.2 |
| 2011 |
-0.5 |
-3.1 |
| 2012 |
-1.0 |
-3.3 |
| 2013 |
-1.3 |
-3.2 |
| 2014 |
-1.3 |
-2.9 |
| 2015 |
-2.0 |
-2.8 |
| 2016 |
-3.1 |
-3.0 |
| 2017 |
-3.1 |
-2.9 |
| 2018 |
-3.1 |
-2.6 |
| 2019 |
-3.2 |
-2.6 |
| 2020 |
-3.4 |
-2.4 |
| 2021 |
-3.1 |
-2.1 |
