TRS held its bimonthly Board of Trustees meeting on July 20, 2016. TRS net assets in June of 2016 rose to $65,555,022,237. This meeting marked Jeff Ezell's last board meeting as the executive director of TRS. The board is interviewing candidates for his successor.
Financial Division
TRS net assets in May of 2015 were $68,084,986,482. TRS net assets in May of 2016 were $65,484,610,495.
TRS net assets in June of 2015 were $66, 825,666,350. TRS net assets in June of 2016 were $65,555,022,237.
Membership Reports
FYTD there are 7,177 retirements compared to 7,072 at this time last year.
Average years of service for retirees with 10 to 24 years of service is 16.7 years.
Average years of service for retirees with 25 plus years of service is 30.5 years.
Average age for service retirement is 59 years.
The average monthly benefit for service retirees is $3,213.
There are currently 117,843 retirees.
There are currently 249,931 active TRS members compared to 244,120 at this time last year.
Adoption of FY 2018 Budget and FY 2017 Amended Budget
Both budgets were approved by the board. The amended FY 2017 budget was increased, primarily, as a result of the 3 percent salary increase approved by the General Assembly. The FY 2018 budget represents an overall decrease of $292,084 from FY2017.
