Teacher Retirement System of Texas (TRS) vs North Carolina Retirement Systems
Side-by-side pension health comparison from DOL and public plan data
Teacher Retirement System of Texas (TRS) (B) and North Carolina Retirement Systems (A) are close on the PensionRisk rubric. Funding ratios sit at 78% and 87% 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
North Carolina Retirement Systems has a stronger Pension Health Score of 82/100 (A) compared to Teacher Retirement System of Texas (TRS) at 72/100 (B). Funding ratios differ by 9.0 percentage points (87.1% vs 78.1%). North Carolina Retirement Systems covers 960,000 participants.
| Metric | Teacher Retirement System of Texas (TRS) | North Carolina Retirement Systems |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 72/100 (B) | 82/100 (A)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 78.1% | 87.1%* |
| Total Assets | $193.0B | $112.0B |
| Total Liabilities | $247.0B | $128.6B* |
| Unfunded Liability | $54.0B | $16.6B* |
| Participants | 1,730,000 | 960,000 |
| 1-Year Investment Return | 6.1% | 6.6%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | low |
| Sponsor | State of Texas | State of North Carolina |
North Carolina Retirement Systems has a stronger Pension Health Score of 82/100 (A) compared to Teacher Retirement System of Texas (TRS) at 72/100 (B). Funding ratios differ by 9.0 percentage points (87.1% vs 78.1%). North Carolina Retirement Systems covers 960,000 participants.
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