Funded Ratio
66.3%
actuarial assets / liabilities
Plan
Connecticut Teachers Retirement Board
State
Connecticut
Funded Ratio
66.3%
Assets
$23.87B
Members
95,554
Health Grade: C — Underfunded — significant gap between assets and liabilities
FY2023 data Grade C Public Plans Database
Connecticut Teachers Retirement Board
Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Connecticut Teachers Retirement Board — sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.
C
Financial Health Grade
Underfunded — significant gap between assets and liabilities
Unfunded Liability
$12.16B
actuarial shortfall
Total Members
95,554
active + retired + vested
1-Year Return
10.8%
net investment return
1.9pp vs 5-yr avg
5-Year Avg Return
8.9%
annualized, net of fees
ARC Payment
24.2%
of actuarially required contribution
How Connecticut Teachers Retirement Board Funded Ratio Compares
Plan Funded Ratio 66.3%
National avg
A ratio of 66.3% compared against the national public-pension average of 73.5%.
Healthy Threshold
Plans above 80% are generally considered adequately funded by NASRA standards.
Participant Composition
The active-to-retiree ratio is a leading indicator of long-term plan sustainability — plans with more retirees than active contributors face mounting cash-flow pressure as benefit payments outpace incoming contributions.
Investment Policy Mix
Public pension plans report their asset allocation in Form 5500 Schedule H Part I disclosures. Equity-heavy mixes capture market upside but introduce volatility; fixed-income tilts protect funded status during downturns at the cost of long-run return.
Historical Funded Ratio
| Year | Funded Ratio |
|---|---|
| 2024 | 66.3% |
| 2023 | 66.2% |
| 2022 | 66.5% |
| 2021 | 64.0% |
| 2020 | 59.1% |
| 2019 | 58.0% |
| 2018 | 56.1% |
| 2017 | 57.5% |
| 2016 | 54.6% |
| 2015 | 57.6% |
| 2014 | 57.8% |
| 2013 | 57.5% |
| 2012 | 59.2% |
| 2011 | 57.7% |
| 2010 | 62.8% |
| 2009 | 67.0% |
| 2008 | 67.9% |
| 2007 | 73.3% |
| 2006 | 73.0% |
| 2005 | 71.5% |
What the Data Says About Connecticut Teachers Retirement Board
Connecticut Teachers Retirement Board reports a funded ratio of 66.3% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $23.87B in market assets against an unfunded liability of $12.16B. As a Teachers plan operating under Connecticut sponsorship, it covers 95,554 members (53,436 active contributors, 39,843 retirees drawing benefits). These figures aggregate from Form 5500 filings submitted to the Department of Labor and actuarial valuations reported through NASRA.
A funded ratio in the 60–80% range indicates moderate underfunding that falls near the national average of 72–75% but leaves the plan exposed to market downturns and demographic shifts. Employer contributions covered 24.2% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 8.9%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.
For Connecticut taxpayers and plan members, the $12.16B unfunded gap represents the actuarial shortfall that must eventually be closed through a combination of contributions, investment returns, or benefit modifications. Unlike private-sector pensions governed by ERISA and backstopped by the PBGC, public plans like Connecticut Teachers Retirement Board rely on the full faith and credit of Connecticut — meaning funding shortfalls flow through to state and local budgets rather than a federal insurance program. This information summarizes official Public Plans Database disclosures and is provided for research and educational purposes only. It is not financial, legal, or retirement-planning advice; active and retired members with specific benefit questions should consult their plan administrator directly.
Membership
53,436
Active Members
39,843
Retirees
95,554
Total Members
Plan Details
- Plan Type
- Teachers
- State
- Connecticut
- Market Assets
- $23.87B
- ARC Payment
- 24.2%
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Other Connecticut Plans
- Connecticut Municipal 72.0%
- Connecticut State Employees Retirement System 66.1%
- Hartford Municipal Employee Retirement Fund 65.9%
Related Resources
Frequently Asked Questions
Is Connecticut Teachers Retirement Board fully funded?
Connecticut Teachers Retirement Board has a funded ratio of 66.3% as of FY2023, earning a health grade of C. A funded ratio of 100% means the plan has enough assets to cover all projected liabilities. Ratios above 80% are generally considered adequately funded; ratios below 60% indicate significant underfunding and risk to future benefits.
What happens if Connecticut Teachers Retirement Board runs out of money?
Public pension plans like Connecticut Teachers Retirement Board are backed by the sponsoring government entity — in this case Connecticut. If a plan's assets are insufficient, the state or local government is typically required to make up the difference through increased contributions, benefit adjustments, or tax measures. Unlike private pensions, public pensions are not insured by the PBGC, but they do carry the full faith and credit of the sponsoring government.
What does a funded ratio of 66.3% mean?
A funded ratio of 66.3% means that Connecticut Teachers Retirement Board currently has assets equal to 66.3% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $12.16B. This represents a moderate funding gap that requires ongoing monitoring.
How does Connecticut Teachers Retirement Board compare to other public pensions?
Connecticut Teachers Retirement Board is a Teachers plan in Connecticut serving 95,554 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Connecticut Teachers Retirement Board's funded ratio of 66.3% places it near the national average.
How many members does Connecticut Teachers Retirement Board have?
Connecticut Teachers Retirement Board covers 95,554 total members, including 53,436 active employees and 39,843 retirees currently receiving benefits. The ratio of active members to retirees is a key indicator of plan sustainability — when the number of retirees grows relative to active contributors, funding pressure increases.
What is the ARC payment percentage for Connecticut Teachers Retirement Board?
Connecticut Teachers Retirement Board pays 24.2% of its Annual Required Contribution (ARC). Consistently underpaying the ARC accelerates the growth of unfunded liabilities and places future benefits at greater risk. Employer contribution patterns are tracked annually in the Public Plans Database.
Related
Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by Kiznis Studio Editorial
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the Public Plans Database (PPD). Consult a qualified professional before making decisions based on this data.
Read our methodology — how this data is sourced, computed, and verified.
All federal data sources used on this page
- U.S. Census Bureau ACS — demographic + housing + income data. census.gov/programs-surveys/acs
- BLS Occupational Employment and Wage Statistics (OEWS) — wage + employment by occupation. bls.gov/oes
- BEA Regional Economic Accounts — GDP + personal income by state/metro. bea.gov/data/regional
- U.S. Census Bureau County Business Patterns — establishment + employment by industry. census.gov/cbp
- IRS Statistics of Income (SOI) — tax-return aggregate data. irs.gov/statistics
- data.gov — U.S. federal open-data portal — discovery layer for additional federal sources. data.gov