TRS 2011 Comprehensive Annual Financial Report

TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011
1 0 - Y E A R S U M M A R Y
Changes in Fiduciary Net Assets
PENSION TRUST FUND
FOR THE FISCAL YEARS ENDED AUGUST 31
2011 2010 2009 2008
Additions:
Member Contributions $ 2,349,131,829 $ 2,289,537,187 $ 2,181,600,283 $ 2,085,345,861
State Contributions 1,922,287,082 1,885,876,036 1,758,579,809 1,704,088,048
Reporting Entities Contributions 419,968,516 412,268,503 412,728,096 353,524,480
Service Contributions Transferred in
from ERS 12,628,712 11,167,772 9,558,927 8,897,722
Investment Income:
Interest, Dividends and Securities
Lending 2,203,623,538 1,978,962,334 2,126,151,392 3,414,753,511
Net Appreciation (Depreciation)
in Fair Value 12,616,681,465 7,542,738,000 (16,030,794,035) (7,992,472,030)
Less: Investing Activity Expenses (183,369,775) (111,918,654) (68,990,517) (29,330,150)
Other 1,576,613 2,453,980 1,768,337 2,080,418
TOTAL ADDITIONS $ 19,342,527,980 $ 14,011,085,158 $ (9,609,397,708) $ (453,112,140)
Deductions:
Benefits $ 7,173,504,788 $ 6,617,397,374 $ 6,294,434,115 $ 6,406,644,540
Excess Benefits 1,750,588 1,504,510 1,553,381 1,646,494
Refunds of Contributions 334,268,822 265,186,589 266,695,076 278,002,614
Service Contributions Transferred
to ERS 64,772,079 61,570,750 57,135,135 52,773,854
Administrative Expenses, Excluding
Investing Activity Expenses 35,849,819 29,992,608 28,310,448 26,122,662
TOTAL DEDUCTIONS $ 7,610,146,096 $ 6,975,651,831 $ 6,648,128,155 $ 6,765,190,164
Net Increase (Decrease) $ 11,732,381,884 $ 7,035,433,327 $ (16,257,525,863) $ (7,218,302,304)
Net Assets - Beginning of Year $ 95,688,405,009 $ 88,652,971,682 $ 104,910,497,545 $ 112,128,799,849
Restatements
Financial Trends Information
Beginning of Year, As Restated $ 95,688,405,009 $ 88,652,971,682 $ 104,910,497,545 $ 112,128,799,849
Net Assets - End of Year $ 107,420,786,893 $ 95,688,405,009 $ 88,652,971,682 $ 104,910,497,545
128 STATISTICAL SECTION