Illinois Teachers Retirement System (TRS) vs Minnesota Public Employees Retirement Association (PERA)
Side-by-side pension health comparison from DOL and public plan data
Illinois Teachers Retirement System (TRS) and Minnesota Public Employees Retirement Association (PERA) are meaningfully apart on the LakeQuality pension-health rubric: Illinois Teachers Retirement System (TRS) grades D while Minnesota Public Employees Retirement Association (PERA) grades B. Funding ratios: 45% vs 79%.
Minnesota Public Employees Retirement Association (PERA) comes out ahead on the composite rubric. For a participant in either plan, the spread is informative but not directly actionable — pension participation is not portable, so the relevant question is what each plan's funded-status trajectory means for that participant's benefit security.
Verdict
Minnesota Public Employees Retirement Association (PERA) has a stronger Pension Health Score of 71/100 (B) compared to Illinois Teachers Retirement System (TRS) at 44/100 (D). Funding ratios differ by 34.4 percentage points (79.1% vs 44.7%). Minnesota Public Employees Retirement Association (PERA) covers 378,000 participants.
| Metric | Illinois Teachers Retirement System (TRS) | Minnesota Public Employees Retirement Association (PERA) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 44/100 (D) | 71/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 44.7% | 79.1%* |
| Total Assets | $62.8B | $35.0B |
| Total Liabilities | $140.5B | $44.2B* |
| Unfunded Liability | $77.7B | $9.2B* |
| Participants | 424,000 | 378,000 |
| 1-Year Investment Return | 4.8% | 5.9%* |
| Plan Type | public | public |
| PBGC Risk Level | critical | moderate |
| Sponsor | State of Illinois | State of Minnesota |
Minnesota Public Employees Retirement Association (PERA) has a stronger Pension Health Score of 71/100 (B) compared to Illinois Teachers Retirement System (TRS) at 44/100 (D). Funding ratios differ by 34.4 percentage points (79.1% vs 44.7%). Minnesota Public Employees Retirement Association (PERA) covers 378,000 participants.