Teachers Retirement System (TRS) held its bimonthly meeting on March 24. The TRS net position at the end of February 2021 was $95,518,505,891. Jan. 11 marked the start of a new legislative session and the first year of the new biennium (2021-2022). Any legislation having an economic impact on TRS must be introduced this year, sent for actuarial study over the summer, and voted on in the 2022 session. Executive Director Dr. L.C. “Buster” Evans updated the board on legislation that may have an impact on TRS. The board approved the membership report and heard an update on the TRS strategic plan.
Membership Report
There are currently 276,949 members in active status.
Feb. 1, 2021, there were 123,192 service retirees receiving an average monthly benefit of $3,432. March 1, 2020, there were 123,064 service retirees receiving an average monthly benefit of $3,430.
Financial Statements
TRS net position in Jan. 2020 was $82,950,173,562
TRS net position in Jan. 2021 was $93,690,003,723
TRS net position in Feb. 2020 was $78,710,327,267
TRS net position in Feb. 2021 was $95,518,505,891
Legislative Update
The 2021 legislative session is the first session of the 2021-2022 biennium. Any nonfiscal legislation is able to be passed this session. Fiscal legislation may be introduced this session but cannot be voted on until the second year of the biennium, pending actuarial study.