TRS 2011 Comprehensive Annual Financial Report

TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011
SCHEDULE OF FUNDING PROGRESS
Required Supplementary Information
PENSION TRUST FUND
FISCAL YEARS 2006-2011
Taking into account only the dollar amounts of aggregate actuarial accrued liabilities and unfunded actuarial accrued liabilities
(UAAL) can be misleading. The dollar amounts of these two items can be increasing at a time when their actual substance may
be decreasing. Dividing valuation asset dollars by aggregate actuarial accrued liability dollars and dividing UAAL dollars by active
member payroll dollars provide clarifying indices. The larger the ratio of valuation assets to aggregate actuarial accrued liabilities,
the stronger the system. Observation of these relative indices over a period of years will give an indication of whether the system
is becoming stronger or weaker.
(DOLLAR AMOUNTS SHOWN IN MILLIONS)
(7)
(3) (4) (5) UAAL as
(1) (2) Actuarial Unfunded Funded Ratio (6) a % of
Valuation Actuarial Accrued AAL Assets as a Annual Covered
as of Value Liability (UAAL) % of AAL Covered Payroll
August 31 of Assets (AAL) (3)-(2) (2)/(3) Payroll (4)/(6)
2006 $ 94,218 $ 107,912 $ 13,694 87.3% $ 28,397 48.2%
2007 103,419 115,964 12,545 89.2 31,114 40.3
2008 110,233 121,756 11,523 90.5 33,238 34.7
2009 106,384 128,030 21,646 83.1 35,097 61.7
2010 111,293 134,191 22,898 82.9 36,629 62.5
2011 115,253 139,315 24,062 82.7 36,797 65.4
SCHEDULE OF CONTRIBUTIONS FROM STATE AND REPORTING ENTITIES
State and Reporting Entities Annual Required Contributions (ARC)
Fiscal From State Percentage
Year ARC From State Federal Funds/ From Reporting of ARC
Ended Rate General Fund Private Grants Entities Total Contributed
2006 7.19% $ 1,596,301,608 $ $ 316,538,818 $ 1,912,840,426 83%
2007 7.02 1,721,223,689 324,945,946 2,046,169,635 85
2008 6.47 1,426,771,115 247,210,170 346,051,153 2,020,032,438 102
2009 6.10 1,373,745,903 255,108,385 380,362,287* 2,009,216,575* 108
2010 7.72 1,829,819,802 356,466,503 475,562,176 2,661,848,481 86
2011 7.77 1,866,217,141 379,804,617 481,695,346 2,727,717,104 86
*Calculation revision from fiscal year 2009 CAFR.
64 FINANCIAL SECTION