JANUARY 2022

TRSL’s valuation report highlights a record 35.7% return in FY 2021

In October, the TRSL Board of Trustees received the retirement system’s valuation report for Fiscal Year 2021. The report provides a yearly analysis of the System’s financial position, which is used to determine the funding necessary to pay retirement benefits for current and future retirees.

This year’s report captured TRSL’s tremendous 35.7% return on investments for the fiscal year ended June 30, 2021, which generated more than $6.5 billion in the 12-month period and catapulted the System’s total assets to an all-time high of $27.7 billion.

As detailed in the graphic below, other information in the report highlights positive news about the System’s performance.

• The plan’s funded ratio, which is a common metric used to measure the fiscal health of the retirement system, now stands at 71.8%, up from 67.9% in the last fiscal year.

• Long-standing retirement liabilities, known as the unfunded accrued liability (UAL), dropped by more than $1 billion to $9.3 billion. Principal and interest on this debt have now been paid for nine consecutive years, and it remains on track to be paid off on time.

TRSL Director Katherine Whitney emphasized the beneficial effect that pension reforms, largely enacted since 2009, are having on the System and its stakeholders.

“We’re seeing retirement costs for employers continue to decrease,” said TRSL Director Katherine Whitney. “All of this good news is due in no small part to the TRSL Board and Legislature working together on practical reforms to maintain the sustainability of the state’s retirement systems.”

Learn more about your retirement. Visit www.TRSL.org for the latest updates and resources designed to help you at every stage of your career.

Did you know that many retirement plans are referred to as retirement vehicles—including 401(k), 403(b), and defined benefits plans? As a TRSL member, it’s important to know what drives your retirement. For starters, as a TRSL member, you have a defined benefit plan—often called a pension. You can take comfort knowing that your TRSL benefit will go the distance and offer security for your financial future. Here are a few things to remember:

Your retirement benefits are built to last
Your retirement benefit is based on your years of service and your average compensation—not the balance in a retirement account. Quite simply, once you retire from your TRSL-covered job, you’ll receive a benefit from us for the rest of your life.

Valuable protections for you and your family included
TRSL offers disability retirement if you suffer a total and permanent disability in the course of your work in TRSL-covered employment and meet eligibility requirements. If you designate a beneficiary once you retire, you can provide a lifetime benefit for a loved one upon your death. And, your spouse and/or minor children may be eligible to receive survivor benefits if you die while actively working in a TRSL-covered position.

Learn more about your retirement with this short video.

The 2022 regular legislative session begins March 14 and ends June 6

Visit our Legislation page to get the latest information on bills that impact TRSL. You can also sign up for eNews updates here to receive important legislative updates directly in your inbox.

Already signed up for eNews? Click on the “manage your preferences” link at the bottom of this email to make sure you have “legislation” checked as a topic of interest.

Legislative lagniappe. Get a quick refresher on what happens to retirement legislation in our infographic: Roadmap to Retirement (Legislation & Your Pension)

Board News: 2022 Board Elections

Did you know the TRSL Board of Trustees manages and safeguards System assets held in trust to provide retirement income for TRSL members—including you? TRSL trustees make important decisions that impact your lifetime retirement benefit.

This year TRSL will hold elections for five board seats representing Colleges & Universities, District 1, District 7, Retiree, and Superintendents.

There are two ways you can make your voice heard in matters involving your TRSL retirement.

Run for a position on the TRSL Board: The period to qualify as a candidate in this year’s elections begins February 22. The deadline to qualify is 4:30 p.m., Friday, April 29. Get eligibility requirements and qualifying information at www.TRSL.org/elections.

Vote in TRSL Board elections: In August, eligible voters will receive election ballots to cast their vote for the trustee position representing them on the board. Stay tuned for more information about the election later this year.

2022 TRSL election schedule: Important dates

District 1, District 7, Colleges/Universities, Superintendents

Qualifying begins	Tues., Feb. 22
Qualifying ends	• 4:30 p.m., Fri., Apr. 29
Election begins	• Mon., Aug. 8
Voting deadline	• 4:30 p.m., Thurs., Sept. 8

TRSL is now on Facebook Live

Hey all you Facebook fans! Join us for What Do You Know Wednesday? It’s our new Facebook Live series. You’ll learn about frequently asked retirement topics in a fun and interactive digital space.

The quick, informative sessions are about 15 minutes plus Q&A time with our knowledgeable member specialists. Check out the details for our next session:

What Do You Know Wednesday?

Topic: What is DROP?

Date: Wednesday, Feb. 16

Don’t miss future sessions. Follow us @TRSLOnline.

Spring 2022 member webinars: New year, new webinars

No matter the stage of your career, TRSL has topic-specific webinars designed for you. Get "schooled" by our retirement specialists with both live and on-demand webinars. Check out our spring sessions and register today.