TRS 2011 Comprehensive Annual Financial Report

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TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011 Financial Trends Information Revenues, Expenses, and Changes in Net Assets TRS-ACTIVECARE (ACTIVE PLAN) * FOR THE FISCAL YEARS ENDED AUGUST 31 2011 2010 2009 2008 1 0 - Y E A R S U M M A R Y Revenues Health Care Premiums $ 1,549,530,891 $ 1,329,171,411 $ 1,172,011,048 $ 1,096,537,022 Administrative Fees 135,917 125,321 187,813 186,844 Investment Income 3,387,062 6,421,269 11,597,992 21,164,640 Federal Revenue ARRA - Cobra Reimbursements** 667,746 1,225,158 170,219 On Behalf Fringe Benefits Paid by the State 67,373 64,328 64,975 61,894 Legislative Appropriations Transfer From TRS-Care (Retired Plan) State Contributions TOTAL REVENUES $ 1,553,788,989 $ 1,337,007,487 $ 1,184,032,047 $ 1,117,950,400 Expenses Health Care Claims $ 1,510,090,981 $ 1,313,114,197 $ 1,122,646,958 $ 952,156,339 Health Care Claims Processing 76,960,951 67,906,654 60,934,432 54,583,499 Premium Payments to HMOs 76,270,706 64,532,253 64,820,440 68,204,743 Administrative Expenses 2,207,051 1,883,148 1,861,949 1,830,258 Legislative Appropriations Transfer to TRS-Care (Retired Plan) TOTAL EXPENSES $ 1,665,529,689 $ 1,447,436,252 $ 1,250,263,779 $ 1,076,774,839 Change in Net Assets $ (111,740,700) $ (110,428,765) $ (66,231,732) $ 41,175,561 Net Assets - Beginning of Year $ 299,810,127 $ 410,238,892 $ 476,470,624 $ 435,295,063 Restatements Beginning of Year, As Restated $ 299,810,127 $ 410,238,892 $ 476,470,624 $ 435,295,063 Net Assets - End of Year $ 188,069,427 $ 299,810,127 $ 410,238,892 $ 476,470,624 * The TRS-ActiveCare Plan, enacted by H.B. 3343, 77th Legislature, began operations in fiscal year 2003 and is accounted for as a proprietary fund. Prior to fiscal year 2003, TRS accounted for TRS-ActiveCare (Active Plan) as a fiduciary fund. The net assets of the Active Plan were transferred to TRS-ActiveCare on September 1, 2002. ** The American Recovery and Reinvestment Act (ARRA) of 2009 which was signed into law on February 17, 2009 was created to preserve jobs and promote economic recovery. 132 STATISTICAL SECTION
TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011 Financial Trends Information 2007 2006 2005 2004 2003 2002 $ 939,694,028 $ 861,464,205 $ 823,726,341 $ 758,062,552 $ 584,572,852 $ 184,937 183,470 183,317 192,763 136,288 108,198 26,016,380 18,650,516 8,915,711 3,641,100 2,459,154 590,967 46,446 40,979 35,626 24,050 31,266 23,843 42,000,000 2,674,579 $ 965,941,791 $ 880,339,170 $ 832,860,995 $ 761,920,465 $ 629,199,560 $ 3,397,587 $ 801,148,962 $ 708,972,484 $ 663,361,138 $ 520,998,423 $ 473,450,544 $ (34,455) 48,177,777 53,013,214 53,697,572 53,564,510 42,411,388 58,742,363 49,466,150 42,574,641 40,210,539 1,775,831 1,680,952 1,607,113 918,619 1,771,441 2,750,107 42,000,000 $ 909,844,933 $ 813,132,800 $ 761,240,464 $ 657,692,091 $ 517,633,373 $ 2,715,652 $ 56,096,858 $ 67,206,370 $ 71,620,531 $ 104,228,374 $ 111,566,187 $ 681,935 $ 379,198,205 $ 311,991,835 $ 240,371,304 $ 136,421,779 $ 24,855,592 $ 24,179,853 (278,849) (6,196) $ 379,198,205 $ 311,991,835 $ 240,371,304 $ 136,142,930 $ 24,855,592 $ 24,173,657 $ 435,295,063 $ 379,198,205 $ 311,991,835 $ 240,371,304 $ 136,421,779 $ 24,855,592 STATISTICAL SECTION 133
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TRS 2011 Comprehensive Annual Financial Report

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