Teacher Retirement System of Texas (TRS) vs Pennsylvania State Employees Retirement System (SERS)
Side-by-side pension health comparison from DOL and public plan data
Teacher Retirement System of Texas (TRS) (B) and Pennsylvania State Employees Retirement System (SERS) (C) are close on the LakeQuality rubric. Funding ratios sit at 78% and 63% 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 Pennsylvania State Employees Retirement System (SERS) at 57/100 (C). Funding ratios differ by 15.0 percentage points (78.1% vs 63.1%). Teacher Retirement System of Texas (TRS) covers 1,730,000 participants.
| Metric | Teacher Retirement System of Texas (TRS) | Pennsylvania State Employees Retirement System (SERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 72/100 (B)* | 57/100 (C) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 78.1%* | 63.1% |
| Total Assets | $193.0B | $36.2B |
| Total Liabilities | $247.0B | $57.4B* |
| Unfunded Liability | $54.0B | $21.2B* |
| Participants | 1,730,000 | 245,000 |
| 1-Year Investment Return | 6.1%* | 5.4% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | high |
| Sponsor | State of Texas | State of Pennsylvania |
Teacher Retirement System of Texas (TRS) has a stronger Pension Health Score of 72/100 (B) compared to Pennsylvania State Employees Retirement System (SERS) at 57/100 (C). Funding ratios differ by 15.0 percentage points (78.1% vs 63.1%). Teacher Retirement System of Texas (TRS) covers 1,730,000 participants.