Teachers Retirement System Board of Trustees Meeting Report - January 2022

Teachers Retirement System (TRS) held its bimonthly meeting Jan. 26, 2022. TRS net assets in December 2021 reached $105,820,026,080. Executive director L.C. "Buster" Evans presented an update on pending legislation. This year is the second year of the legislative biennium (2021-2022). Legislation having a fiscal impact on TRS that was introduced last year and sent for actuarial study over the summer may be voted on this year.

Membership Report

  • In December, there were 281,311 members in active status, 240,448 actively contributing, and 140,901 retirees.

  • Jan. 1, there were 126,443 service retirees with an average monthly benefit of $3,494 and an average age at retirement of 59.

Financial Statement

  • TRS net position in November 2020 was $91,230,164,815. TRS net position in November 2021 was $102,979,575,445.

  • TRS net position in December 2020 was $94,180,392,953. TRS net position in December 2021 was $105,820,026,080.


Legislative Report

The following two fiscal bills were sent for actuarial study over the summer and are eligible to be voted on this legislative session: House Bill 385: Proposed legislation that would enable retired educators to return to work full-time, after a 12-month waiting period following retirement, while continuing to draw full TRS benefits. The bill would restrict employment to high-needs areas in each region as determined by Regional Education Service Agencies (RESAs) and to retired educators who have a minimum of 30 years experience. Learn more in the PAGE Capitol Report HERE. Senate Bill 267 by Sen. Sheikh Rahman (D-Lawrenceville) would allow retired TRS members who elected to participate in an optional retirement allowance that included one or more beneficiaries to change a beneficiary one time every three years. The member’s retirement allowance or allowance to a named beneficiary would be recalculated to ensure the cost of the benefit would be actuarially equivalent to the allowance in effect prior to naming a new beneficiary.

Upcoming Meeting

The next TRS Board Meeting is scheduled for Wednesday, March 23, 2022.