Minnesota Public Employees Retirement Association (PERA) vs Minnesota Teachers Retirement Association (TRA)
Side-by-side pension health comparison from DOL and public plan data
Minnesota Public Employees Retirement Association (PERA) (B) and Minnesota Teachers Retirement Association (TRA) (B) are close on the LakeQuality rubric. Funding ratios sit at 79% and 80% 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
Minnesota Teachers Retirement Association (TRA) has a stronger Pension Health Score of 72/100 (B) compared to Minnesota Public Employees Retirement Association (PERA) at 71/100 (B). Funding ratios differ by 0.7 percentage points (79.8% vs 79.1%). Minnesota Teachers Retirement Association (TRA) covers 195,000 participants.
| Metric | Minnesota Public Employees Retirement Association (PERA) | Minnesota Teachers Retirement Association (TRA) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 71/100 (B) | 72/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 79.1% | 79.8%* |
| Total Assets | $35.0B | $28.0B |
| Total Liabilities | $44.2B | $35.1B* |
| Unfunded Liability | $9.2B | $7.1B* |
| Participants | 378,000 | 195,000 |
| 1-Year Investment Return | 5.9% | 6.1%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of Minnesota | State of Minnesota |
Minnesota Teachers Retirement Association (TRA) has a stronger Pension Health Score of 72/100 (B) compared to Minnesota Public Employees Retirement Association (PERA) at 71/100 (B). Funding ratios differ by 0.7 percentage points (79.8% vs 79.1%). Minnesota Teachers Retirement Association (TRA) covers 195,000 participants.
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