Teacher Retirement System of Texas (TRS) vs Employees Retirement System of Texas (ERS)
Side-by-side pension health comparison from DOL and public plan data
Teacher Retirement System of Texas (TRS) (B) and Employees Retirement System of Texas (ERS) (B) are close on the PensionRisk rubric. Funding ratios sit at 78% and 70% 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
Teacher Retirement System of Texas (TRS) has a stronger Pension Health Score of 72/100 (B) compared to Employees Retirement System of Texas (ERS) at 66/100 (B). Funding ratios differ by 8.0 percentage points (78.1% vs 70.1%). Teacher Retirement System of Texas (TRS) covers 1,730,000 participants.
| Metric | Teacher Retirement System of Texas (TRS) | Employees Retirement System of Texas (ERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 72/100 (B)* | 66/100 (B) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 78.1%* | 70.1% |
| Total Assets | $193.0B | $31.5B |
| Total Liabilities | $247.0B | $44.9B* |
| Unfunded Liability | $54.0B | $13.4B* |
| Participants | 1,730,000 | 327,000 |
| 1-Year Investment Return | 6.1%* | 5.5% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of Texas | State of Texas |
Teacher Retirement System of Texas (TRS) has a stronger Pension Health Score of 72/100 (B) compared to Employees Retirement System of Texas (ERS) at 66/100 (B). Funding ratios differ by 8.0 percentage points (78.1% vs 70.1%). Teacher Retirement System of Texas (TRS) covers 1,730,000 participants.
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