TRS FY 2018 Cash Flow Summary Beginning Balance (July 1, 2017) in billions $49.400
State appropriation for FY 2018 4.164
Teacher/Employer contribution 1.036Total Contributions to TRS $5.200
Total annuity benefits ($6.555)
Cost of running TRS .023
TRS Total outflow ($6.578)
The part of our profit that makes up the difference 1.378
The part of our profit that is left to be invested 1.905
Ending balance (June 30, 2018) in billions $51.300
The state appropriation for FY 2019 is $4.466
Note that TRS needs to make in its investments almost $1.4 billion just to break even for the year. And even with making more than 8% for the year, our unfunded liability grew in FY 2018.For 2018 the TRS fund made 8.45% net of fees, but because the cost of benefits exceeds our contributions by $1.383 billion our fund only grew by $1.9 billion or 4.2%.For FY 2018 the thirty-year net of fees return was 8.4% and the forty-year return was 9.2%.
Due to state underfunding last year, the TRS unfunded liability grew by 2.8% from $71.4 billion to $73.4 billion. TRS funded status is by my calculation 41.14%. It was 40.2% in FT 2017.