NYSTRS by the Numbers: As of June 30, 2019 · NYSTRS by the Numbers. As of June 30, 2019. New York...
Transcript of NYSTRS by the Numbers: As of June 30, 2019 · NYSTRS by the Numbers. As of June 30, 2019. New York...
NYSTRS by the NumbersAs of June 30, 2020
New York State Teachers’ Retirement System10 Corporate Woods Drive • Albany, NY 12211
(800) 348-7298 • NYSTRS.org
1
Percent Funded2015 – 2019(Actuarial Accrued Liabilities)
0%
10%
20%
30%
40%
50%
60%70%
80%
90%
100%
110%
120%
2015 2016 2017 2018 2019
Using an Actuarial Value of Assets
104.1%98.4% 99.8% 100.9%
94.2%97.9% 97.7% 99.2%
Using a Market Value of Assets
101.2%99.6%
2
Portfolio PerformanceRate of Return on Investments2016 – 2020
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
7.1%
2.3%
12.5%
9.0%
2016 2017 2018 2019 2020
3.5%
3
Market Value of Assets (Net of Fees)2016 – 2020
2016
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
$110
$120
$130
2017
2018
2019
2020
Figures in billions
$120.5
$107.5
$115.5$119.9 $122.5
As of June 30
Growth of InvestedAssets (at market)1970-2020
4
05101520253035404550556065707580859095100105110115120125
70 75 80 85 90 95 00 05 10 15 20
Years Ending June 30
Dollars in Billions
2020 ..........$120.5 2015 ............109.7 2010 ............. 76.8 2005 ............. 84.9 2000 ............. 89.2 1995 ..............47.0 1990 ............. 25.0 1985 ............. 14.5 1980 ............... 6.6 1975 ............... 4.2 1970 ............... 2.2
Year
Assets
Breakdown ofIncome SourcesFiscal Years Ended 1991-2020
5
84%Investment
Income
14%Employer
Contributions
2%Member
Contributions
EmployerContributionRates
% of Payroll
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
96-97
97-9898-99 00-01 02-03 04-05 06-07
09-1010-11 12-13 14-15 16-17
99-00 01-02 03-04 05-06 07-0808-09
11-12 13-14 15-16 17-1818-19
19-20
School Year
6
20-21
Contributions Collectedvs. Benefits Paid 1990-2020
7
0
10
20
30
40
50
60
70
80
90
100
110
120
130
$126.8
$30.0
$4.5Member
Contributions
EmployerContributions
Benefits andExpenses Paid
Net Position1990 $ 25.0 Billion2020 $120.5 Billion
Billions of Dollars
Distribution of BenefitsPaid by CountyJune 30, 2020
8
$100 million+ $50-$100 million
Up to $25 million
Map Key
Albany
Allegany
Bronx
Broome
Cattaraugus
Cayuga
ChautauquaChemung
Chenango
Clinton
Columbia
Cortland
Delaware
Dutchess
Erie
Essex
Franklin
FultonGenesee
Greene
HamiltonHerkimer
Jefferson
Kings
Lewis
Livingston
Madison
Monroe
Montgomery
Nassau
New York
Niagara Oneida
Onondaga
Ontario
Orange
Orleans
Oswego
Otsego
Putnam
Queens
Rensselaer
Richmond
Rockland
St. Lawrence
Saratoga
Schenectady
Schoharie
Schuyler
Seneca
Steuben
Suffolk
Sullivan
Tioga
Tompkins
Ulster
Warren
Washington
Wayne
Westchester
WyomingYates
N e w Yo r k
$25-$50 million
The Top 20County Annual Benefit County Annual BenefitSuffolk $1,045,913,950 Ulster $126,660,024Nassau 554,790,572 Oneida 123,804,583Erie 473,702,414 Rockland 120,162,482Westchester 381,054,872 Niagara 101,106,631Monroe 376,639,932 Broome 89,554,719Onondaga 266,222,190 Ontario 79,961,107Orange 165,543,467 Chautauqua 79,505,358Dutchess 157,478,152 Schenectady 70,459,046Saratoga 157,089,220 Rensselaer 66,353,587Albany 129,539,754 Oswego 62,913,015
*
* Computed on the optional annual benefit including supplementation and COLA.1 Refer to our Comprehensive Annual Financial Report at NYSTRS.org for a complete list.
1
05101520253035404550556065707580859095100
Average AnnualRetirement Benefit For Service Retirees By Fiscal Year of Retirement
9
Dollars in Thousands
Year2019-202018-192017-182016-172015-162014-152013-142012-132011-122010-11
FAS$90,228 87,085 86,910 85,242
84,308 84,362 84,545 81,987 82,461 85,010
MaximumBenefit$48,273 45,713 45,725 45,049
44,215 44,487 44,978 44,768 45,759 51,200
Final Average Salary (FAS)
Maximum Benefit
Year 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20
Assets Under Management: Internal vs. External June 30, 2020(dollars in millions)
Externally Managed - Active$33,562
28%
Externally Managed - Passive$14,354
12%
Internally Managed$70,840
60% 10
Asset Allocation(at market) June 30, 2020
11
Actual Asset Allocation
Real Estate Equity - 10.0%
Domestic Fixed Income15.9%
Cash Equivalents2.3%
Private Equity - 8.0%
International Equity - 16.4%
Real Estate Debt 6.0%
Target Asset Allocation
Domestic Equity33%Domestic Fixed Income
16%
Cash Equivalents1% Range 0-4%
Private Equity - 8%
International Equity - 16%
Real Estate Debt7%
Range 6-16%
Range 3-11%
Range 3-13%
Range 29-37%Range
12-20%
Global Bonds2.4%
Global Bonds2%
Range 0-3%
High-Yield Bonds0.5%
High-Yield Bonds1% - Range 0-3%
Global Equity - 3.0%
Private Debt 0.6%
Real Estate Equity - 11%
Global Equity 4% Range 0-8%
Range 12-20%
Private Debt1% Range 0-5%
Domestic Equity34.9%
7.4%Consumer Staples 11.6%
Consumer Discretionary
3.3%Energy
12.4%Financials
0.7%Other
4.4%Materials22.4%
InformationTechnology 13.5%
Health Care
2.9%Utilities
9.9%Industrials
12
Public Equity Holdings by Industry Distribution (at market)June 30, 2020
8.7%Communications
Services
2.8%Real Estate
Domestic Fixed Income & High-Yield BondsDistribution (at market)June 30, 2020
13
20.6%Federal AgencyMortgage Backed& Asset Backed
4.8%Federal Agency
Notes/Debentures
34.9%Corporate
39.7%U.S. Treasury
Private Equity Net Asset Value by Investment Type
June 30, 2020
14
6.9%Fund of Funds
3.2%Secondary Funds
8.5%Co-Investments
66.5%LBO/MBO
5.4%Turnaround
<0.1%Other
9.5%Venture Capital
Real Estate Equity(at market)June 30, 2020
15
Equity Portfolio
Geographic Region
2.7%Timber
Investments
34.2% Private
Securities
39.3%Direct
Investments
18.4%Northeast
23.8%Public Securities
28.8%Pacific
11.0% Mideast
3.0% Mountain12.9%Non-U.S.Asia - 5.6%
Europe - 5.7%Americas - 1.6%
0.6% West N. Central
12.5% Southeast
5.6% Southwest
3.3% East N. Central
3.9%Other U.S.Various - 3.9%
Active Members byTier of Membershipas of June 30, 2020
16
Tier 465.2%
170,306
Active Members261,232
Tier 55.0%
13,040 Tier 629.0%75,717
Tier 30.6%1,638
Tiers 1 & 20.2%531