Teacher Retirement System of Texas (TRS) vs Virginia Retirement System (VRS)
Side-by-side pension health comparison from DOL and public plan data
Teacher Retirement System of Texas (TRS) (B) and Virginia Retirement System (VRS) (B) are close on the LakeQuality rubric. Funding ratios sit at 78% and 75% 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 Virginia Retirement System (VRS) at 70/100 (B). Funding ratios differ by 3.0 percentage points (78.1% vs 75.1%). Teacher Retirement System of Texas (TRS) covers 1,730,000 participants.
| Metric | Teacher Retirement System of Texas (TRS) | Virginia Retirement System (VRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 72/100 (B)* | 70/100 (B) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 78.1%* | 75.1% |
| Total Assets | $193.0B | $87.0B |
| Total Liabilities | $247.0B | $115.8B* |
| Unfunded Liability | $54.0B | $28.8B* |
| Participants | 1,730,000 | 740,000 |
| 1-Year Investment Return | 6.1%* | 6.0% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of Texas | State of Virginia |
Teacher Retirement System of Texas (TRS) has a stronger Pension Health Score of 72/100 (B) compared to Virginia Retirement System (VRS) at 70/100 (B). Funding ratios differ by 3.0 percentage points (78.1% vs 75.1%). Teacher Retirement System of Texas (TRS) covers 1,730,000 participants.