TRS held its bimonthly Board of Trustees meeting on Sept. 28, 2016. TRS net assets in August 2016 rose to $67,259,268,043. This meeting was the first board meeting for TRS's new executive director Dr. L.C. Evans. This was also the first board meeting for new board member Anne Cardella, and marked the first board meeting with Thomas Norwood as board Chair.
Financial Division
TRS net assets in July of 2015 were $67,255,609,934. TRS net assets in July of 2016 were $67,287,755,236.
TRS net assets in August of 2015 were $64,015,861,978. TRS net assets in August of 2016 were $67,259,268,043.
Membership Reports
FYTD there are 1,092 retirements compared to 1,193 at this time last year.
Average years of service for retirees with 10 to 24 years of service is 16.5 years.
Average years of service for retirees with 25 plus years of service is 30.7 years.
Average age for service retirement is 59 years.
The average monthly benefit for service retirees is $3,208.
There are currently 118,637 retirees.
There are currently 250,018 active TRS members compared to 243,653 at this time last year.
Adoption of FY 2018 Budget
The Governor's Office of Budget and Planning (OPB) adopted the proposed FY 2018 TRS budget of $38,401,106.
Approval of Actuarial Services Contract
The board approved the service contract for current actuarial firm Cavanaugh Macdonald.
