Teacher Retirement System of Texas (TRS) vs Texas County & District Retirement System (TCDRS)
Side-by-side pension health comparison from DOL and public plan data
Teacher Retirement System of Texas (TRS) (B) and Texas County & District Retirement System (TCDRS) (A) are close on the LakeQuality rubric. Funding ratios sit at 78% and 86% 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
Texas County & District Retirement System (TCDRS) has a stronger Pension Health Score of 81/100 (A) compared to Teacher Retirement System of Texas (TRS) at 72/100 (B). Funding ratios differ by 8.1 percentage points (86.2% vs 78.1%). Texas County & District Retirement System (TCDRS) covers 385,000 participants.
| Metric | Teacher Retirement System of Texas (TRS) | Texas County & District Retirement System (TCDRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 72/100 (B) | 81/100 (A)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 78.1% | 86.2%* |
| Total Assets | $193.0B | $39.5B |
| Total Liabilities | $247.0B | $45.8B* |
| Unfunded Liability | $54.0B | $6.3B* |
| Participants | 1,730,000 | 385,000 |
| 1-Year Investment Return | 6.1% | 6.6%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | low |
| Sponsor | State of Texas | Texas Counties |
Texas County & District Retirement System (TCDRS) has a stronger Pension Health Score of 81/100 (A) compared to Teacher Retirement System of Texas (TRS) at 72/100 (B). Funding ratios differ by 8.1 percentage points (86.2% vs 78.1%). Texas County & District Retirement System (TCDRS) covers 385,000 participants.