South Carolina Retirement System vs New Jersey Teachers Pension & Annuity Fund (TPAF)
Side-by-side pension health comparison from DOL and public plan data
South Carolina Retirement System (C) and New Jersey Teachers Pension & Annuity Fund (TPAF) (C) are close on the LakeQuality rubric. Funding ratios sit at 55% and 48% 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
South Carolina Retirement System has a stronger Pension Health Score of 52/100 (C) compared to New Jersey Teachers Pension & Annuity Fund (TPAF) at 51/100 (C). Funding ratios differ by 7.0 percentage points (55.1% vs 48.1%). South Carolina Retirement System covers 575,000 participants.
| Metric | South Carolina Retirement System | New Jersey Teachers Pension & Annuity Fund (TPAF) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 52/100 (C)* | 51/100 (C) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 55.1%* | 48.1% |
| Total Assets | $35.5B | $28.5B |
| Total Liabilities | $64.4B | $59.3B* |
| Unfunded Liability | $28.9B* | $30.8B |
| Participants | 575,000 | 268,000 |
| 1-Year Investment Return | 5.2%* | 4.9% |
| Plan Type | public | public |
| PBGC Risk Level | high | high |
| Sponsor | State of South Carolina | State of New Jersey |
South Carolina Retirement System has a stronger Pension Health Score of 52/100 (C) compared to New Jersey Teachers Pension & Annuity Fund (TPAF) at 51/100 (C). Funding ratios differ by 7.0 percentage points (55.1% vs 48.1%). South Carolina Retirement System covers 575,000 participants.