TRS 2011 Comprehensive Annual Financial Report
TRS 2011 Comprehensive Annual Financial Report
TRS 2011 Comprehensive Annual Financial Report
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT <strong>2011</strong><br />
Growth of the System<br />
Benefit payments during fiscal year <strong>2011</strong> totaled approximately<br />
$7.18 billion, an increase of $556 million from the<br />
previous year. As of August <strong>2011</strong>, the monthly annuity<br />
payroll had grown to approximately $568 million, and <strong>TRS</strong><br />
was paying benefits to 312,680 recipients.<br />
Service recipients include retirees and beneficiaries receiving<br />
continuing monthly annuity payments. Disability<br />
recipients are disabled members who are receiving continuing<br />
monthly disability payments. Survivor recipients are<br />
beneficiaries who have elected to receive death benefits<br />
in the form of monthly benefits. The number of retiree<br />
accounts increased by 16,189 during fiscal year <strong>2011</strong>.<br />
Of the current <strong>TRS</strong> member accounts, 847,847 (active<br />
contributing and deferred retirement option participants)<br />
were employed during fiscal year <strong>2011</strong> and made contributions<br />
to the system. The remaining 156,039 members are<br />
no longer employed by <strong>TRS</strong>-covered employers but have<br />
maintained their membership in <strong>TRS</strong> by leaving their contributions<br />
with the system. The number of current member<br />
accounts decreased by 303 during fiscal year <strong>2011</strong>.<br />
158 BENEFITS SECTION
Change language