Teacher Retirement System of Texas (TRS) vs California State Teachers Retirement System (CalSTRS)
Side-by-side pension health comparison from DOL and public plan data
Teacher Retirement System of Texas (TRS) (B) and California State Teachers Retirement System (CalSTRS) (B) are close on the LakeQuality rubric. Funding ratios sit at 78% and 73% 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
California State Teachers Retirement System (CalSTRS) has a stronger Pension Health Score of 73/100 (B) compared to Teacher Retirement System of Texas (TRS) at 72/100 (B). Funding ratios differ by 5.2 percentage points (72.9% vs 78.1%). California State Teachers Retirement System (CalSTRS) covers 985,000 participants.
| Metric | Teacher Retirement System of Texas (TRS) | California State Teachers Retirement System (CalSTRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 72/100 (B) | 73/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 78.1%* | 72.9% |
| Total Assets | $193.0B | $318.0B |
| Total Liabilities | $247.0B* | $436.0B |
| Unfunded Liability | $54.0B* | $118.0B |
| Participants | 1,730,000 | 985,000 |
| 1-Year Investment Return | 6.1% | 6.2%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of Texas | State of California |
California State Teachers Retirement System (CalSTRS) has a stronger Pension Health Score of 73/100 (B) compared to Teacher Retirement System of Texas (TRS) at 72/100 (B). Funding ratios differ by 5.2 percentage points (72.9% vs 78.1%). California State Teachers Retirement System (CalSTRS) covers 985,000 participants.