Maryland State Retirement & Pension System vs NYC Teachers Retirement System (TRS)
Side-by-side pension health comparison from DOL and public plan data
Maryland State Retirement & Pension System (B) and NYC Teachers Retirement System (TRS) (B) are close on the LakeQuality rubric. Funding ratios sit at 72% and 74% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
NYC Teachers Retirement System (TRS) has a stronger Pension Health Score of 68/100 (B) compared to Maryland State Retirement & Pension System at 67/100 (B). Funding ratios differ by 2.1 percentage points (74.2% vs 72.1%). NYC Teachers Retirement System (TRS) covers 225,000 participants.
| Metric | Maryland State Retirement & Pension System | NYC Teachers Retirement System (TRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 67/100 (B) | 68/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 72.1% | 74.2%* |
| Total Assets | $61.0B | $92.0B |
| Total Liabilities | $84.6B* | $124.0B |
| Unfunded Liability | $23.6B* | $32.0B |
| Participants | 398,000 | 225,000 |
| 1-Year Investment Return | 5.8%* | 5.4% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of Maryland | New York City |
NYC Teachers Retirement System (TRS) has a stronger Pension Health Score of 68/100 (B) compared to Maryland State Retirement & Pension System at 67/100 (B). Funding ratios differ by 2.1 percentage points (74.2% vs 72.1%). NYC Teachers Retirement System (TRS) covers 225,000 participants.