News: (To post items here, please email them to Mark York.)
A “Dirty Dozen” Facts About Our Retirement System
(This is an adaptation of FY 2012 information shared by TRS Trustee Cynthia O’Neill at a recent meeting of retired teachers in Franklin County.
It is an updated version of what was distributed at the Williamson County unit meeting on August 8, 2012)
- Relative Size of TRS retirement system-----------------------86th largest in the world
- TRS Total Assets of TRS------------------------------------------$37.3 billion
- Expected rate of return adopted by TRS-----------------------8.5%
- Actual rate of return TRS earned---------------------------------23.5% (2011) 7.83% (2012 to date)
- TRS total number of members------------------------------------363,000
- TRS total number of retired annuitants-------------------------101,000
- TRS average annuity paid to retirees---------------------------$46,462
- Age of oldest retired teacher in TRS----------------------------108
- Cost to TRS of benefits paid in FY2013------------------------$2.7 billion
- No. of years IL paid TRS less than required------------------24 years since 1970
- Total $ IL is behind to TRS since 1990-------------------------$11.6 billion
- Total $ IL has not paid to fund TRS-------------------------------$14.9 billion
13. What is the current status of TRS today?--------------------------Who knows, but probably worse!
What can retired teachers do to help?
Join IRTA (Dues of $2.50 can be deducted monthly from your TRS annuity)
Join IRTAPAC (Donate $1 per month to be deducted from your TRS annuity.)
Join VoterVoice (No cost! Go online to www.irtaonline.org for details.)