TRS held its bimonthly meeting Sept. 22, 2021. Executive Director Dr. L.C. Evans delivered an operational status report. TRS net assets in August 2021 reached an all-time high of $104,645,707,293. The board heard the FY 2022 submission for the TRS strategic plan and approved the final budget for FY 2023.
Membership Report
In August, there were 267,720 members in active status, 228,886 actively contributing, and 140,835 retirees.
September saw 126,543 service retirees with an average monthly benefit of $3,450 and an average age at retirement of 59.
Financial Statement
TRS net position in July 2020 was $84,225,976,828. TRS net position in July 2021 was $102,936,292,978.
TRS net position in August 2020 was $87,441,761,973. TRS net position in August 2021 was $104,645,707,293.
Strategic Plan Update
The strategic plan aims to address the need for updated technology, succession planning, and the impact of the retirement of baby boomers (those born between 1946 and 1964) on the TRS plan.
Adoption of Final Budget for FY 2023
The board adopted the proposed FY 2023 budget. The budget includes total expenses of $45,712,213.