June 7, 2016 
Teacher Retirement System Meeting
May 2016
The Teacher Retirement System (TRS) bimonthly Board of Trustees meeting took place May 18, 2016. As of April 2016, TRS Net Assets stood at $65,149,692,873. Total active membership remains up about 5,000 members over last year. The board adopted the maximum percentage increase used to calculate retirement benefits(4.34% for non-Board of Regents TRS members). The board discussed COLA eligibility for July 1, 2016, and two groups of retirees do not qualify for COLAs based on the current Consumer Price Index. The board heard a presentation on TRS Actuarial Valuation as of June 30, 2015, and adopted the employee and employer contribution rates for FY 2017.
Financial Division

TRS net assets in March 2015 were $67,481,902,207. TRS net assets in March 2016 were $64,940,554,635.

TRS net assets in April 2015 were $67,983,622,539. TRS net assets in April 2016 were $65,149,692,873.

Membership Reports
  • Fiscal Year-to-Date there are 3,596 retirements compared to 3,591 at this time last year.
  • Average years of service for retirees with 10 to 24 years of service is 16.4.
  • Average years of service for retirees with 25 plus years of service is 30.7 years.
  • Average age for service retirement is 59.1 years.
  • The average monthly benefit for service retirees is $3,194.
  • There are currently 114,723 retirees.
  • There are currently 257,912 active TRS members compared to 252,967 at this time last year.
Adoption of Maximum Percentage Increase for
Two Year Average Salary for FY 2017


Per O.C.G.A. ยง 47-3-120 limits are set on the amount of salary increase used to calculate retirement benefits. In 2017, for TRS members who are employees of the Board of Regents that number is 5.50 percent and 4.34 percent for all others.

Information on salary limitations is available on the TRS website HERE
July 1, 2016 Cost of Living Adjustments (COLAs)

COLAs are granted every Jan.1 and July 1 and are granted if the current Consumer Price Index is greater than a retiree's base index. The current index for the July 1 COLA is 237.547. The following groups do not qualify for a COLA based on the current index: 
  • July 1, 2015 through December 1, 2015 (238.199)
  • July 1, 2014 through December 1, 2014 (237.968)
Information on COLAs is available on the TRS website HERE.
June 30, 2015 Actuarial Valuation

The market value of investment returns had a compound average of 10.23 percent for the last two years. There was an increase in the Unfunded Actuarial Accrued Liability (UAAL) due to interest smoothing and the impact of the latest experience study. The ratio of Funded Net Position (FNP) to Total Pension Liability (TPL) = 81.4 percent.
Adoption of FY 2018 Employee and Employer Contribution Rates
  • The employer rate, starting July 2017 will increase to 16.81 percent
  • The employee rate remains at its current statutory limit of 6 percent
Adoption of Board Chair and Vice Chair

Alvin Wilbanks was reelected Board Chair for FY 2017; Thomas Norwood was reelected as Vice Chair.
Sean Devetter
Staff Attorney
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