Is St. Paul Teachers' Retirement Fund Association fully funded?

St. Paul Teachers' Retirement Fund Association has a source-reconciled actuarial funded ratio of 67.2% as of FY2024, earning a health grade of B. A funded ratio compares actuarial assets with actuarial accrued liabilities at a reporting date. A value of 100% means those two reported values are equal; it does not forecast benefits, taxes, or investment performance.

What does a funded ratio of 67.2% mean?

A funded ratio of 67.2% means that St. Paul Teachers' Retirement Fund Association reported actuarial assets equal to 67.2% of its accrued liabilities at that valuation date. The source-reported actuarial unfunded liability stands at $633M. This represents a moderate funding gap that requires ongoing monitoring.

How does St. Paul Teachers' Retirement Fund Association compare to other public pensions?

St. Paul Teachers' Retirement Fund Association is a Teachers plan in Minnesota serving 10,377 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. St. Paul Teachers' Retirement Fund Association's source-reconciled actuarial funded ratio of 67.2% places it near the national average.

How many members does St. Paul Teachers' Retirement Fund Association have?

St. Paul Teachers' Retirement Fund Association covers 10,377 total members, including 3,360 active employees and 4,406 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.

FY2024 source-reconciled actuarial data · Public Plans Database

St. Paul Teachers' Retirement Fund Association

Funded ratio, unfunded liability, member counts, and 23-year financial history for St. Paul Teachers' Retirement Fund Association, sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.

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By PlainPension · July 2026 · Minnesota · Teachers Plan · Data through FY2024

Actuarial funded ratio: 67.2%
Health grade: BReported funded ratio above the portfolio average range
Actuarial assets: $1.30B
Members: 10,377

According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, St. Paul Teachers' Retirement Fund Association is one of 197 public pension plans tracked nationwide. The plan card reports source-reconciled actuarial figures through FY2024; the multi-year table includes only years whose reported ratio ties to its actuarial dollars. This site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.

Higher funded-ratio band

St. Paul Teachers' Retirement Fund Association ranks #18 of 192 by source-reconciled actuarial funded ratio (67.2%), top-third among tracked public plans.

St. Paul Teachers' Retirement Fund Association in the higher-funded third

According to the Public Plans Database, St. Paul Teachers' Retirement Fund Association sits in the higher-funded third at 67.2% (grade B, #18 of 192) for FY2024, 8.3 points below the national public-pension average.

67.2%
Funded · #18 of 192: B
Health grade: $633M
Actuarial unfunded liability: -14.7pp
FY2001→FY2024

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Actuarial Unfunded Liability

$633M

Below-median unfunded liability · source-reported UAAL

Total Members

10,377

active + retired + vested

1-Year Return

10.9%

Strong return year · net investment return

2.6pp vs 5-yr avg

5-Year Avg Return

8.3%

Above assumed rate · annualized, net of fees

Composite Health Score

49/100

St. Paul Teachers' Retirement Fund Association

Transparent derived index from public pension-plan filings, not an official rating. A 4-dimension composite (funded ratio, contribution discipline, 5-year investment return, unfunded burden), each scored against this dataset's own percentile distribution across 197 reporting plans. Not the same as the plan's headline funded-ratio grade above. See the exact dimensions, weights, and formula.

Funded Ratio F

67.2%

Actuarial assets as a share of liabilities

Contribution Discipline A+

148.6%

Share of the actuarially required contribution actually paid

Investment Returns C-

8.3%

5-year annualized investment return

Unfunded Burden F

32.2%

Unfunded liability as a share of total obligations

How this score is calculated (benchmark table)

Dimension	P10	P25	P50	P75	P90	Weight
Funded ratio (higher = better)	57.6%	67.2%	75.0%	87.0%	97.6%	0.35
Contribution discipline (ARC) (higher = better)	88.4%	100.0%	100.0%	104.1%	122.1%	0.25
5yr investment return (higher = better)	6.4%	7.5%	8.3%	9.1%	9.9%	0.20
Unfunded burden (lower = better)	2.0%	12.7%	25.0%	33.1%	42.4%	0.20

Percentiles computed across all 197 plans in this database with a reported value for that metric (2026-09-09). A dimension a plan does not report drops out of its composite, and that weight redistributes across the dimensions it does report, so thin reporting never silently lowers a score relative to a fully-reported peer.

Participant Composition

Investment Policy Mix

What changed, FY2023 to FY2024

2 pts funded ratio

St. Paul Teachers' Retirement Fund Association's funded ratio rose 2.0 points from FY2023 to FY2024, driven by its assets, which grew 5.3% while the accrued liability moved +2.2%.

Funded ratio

65.2% → 67.2%

Actuarial assets

$1.23B → $1.30B (+5.3%)

Accrued liability

$1.89B → $1.93B (+2.2%)

Where the 2.0-point move came from

Assets: +3.5 pts
Accrued liability: -1.5 pts

Accrued liability is the source-reported value for benefits already promised. The two contributions are the move the ratio would have made on the prior year’s liability (assets) and the remainder (liability); they sum to the total by construction. Both years shown provide source-reconciled actuarial assets and liability, so neither figure rests on a ratio published on its own. Source: Public Plans Database (Boston College CRR / NASRA), loaded July 2026. See our funding-change board for how this plan’s move compares with the rest of the dataset.

Historical Actuarial Funding

Year	Actuarial Ratio	Assets	Liabilities	UAAL	Members	ARC	1yr return
2024	67.2%	$1.30B	$1.93B	$633M	N/A	139.1%	12.7%
2023	65.2%	$1.23B	$1.89B	$657M	10,377	148.6%	10.9%
2022	68.7%	$1.20B	$1.75B	$547M	10,295	139.3%	-14.5%
2021	67.1%	$1.16B	$1.73B	$570M	9,986	130.3%	28.0%
2020	64.5%	$1.09B	$1.69B	$601M	10,038	127.1%	4.5%
2019	63.8%	$1.08B	$1.69B	$612M	9,960	126.2%	6.1%
2018	63.7%	$1.07B	$1.68B	$609M	9,522	102.7%	8.4%
2017	64.5%	$1.04B	$1.61B	$573M	9,435	97.9%	12.8%
2016	63.3%	$1.01B	$1.59B	$585M	9,277	95.3%	0.3%
2015	62.6%	$1000M	$1.60B	$597M	9,281	91.0%	3.2%
2014	61.8%	$948M	$1.53B	$586M	9,317	86.0%	18.0%
2013	60.4%	$886M	$1.47B	$581M	9,253	63.8%	12.0%
2012	62.0%	$912M	$1.47B	$559M	9,005	84.3%	2.4%
2011	70.0%	$973M	$1.39B	$417M	8,670	74.2%	21.2%
2010	68.0%	$1.00B	$1.47B	$470M	8,744	82.8%	13.8%
2009	72.2%	$1.05B	$1.45B	$404M	8,696	85.7%	-15.4%
2008	75.1%	$1.08B	$1.43B	$356M	8,667	58.4%	-4.2%
2007	73.0%	$1.02B	$1.39B	$376M	8,416	56.3%	16.4%
2006	69.1%	$939M	$1.36B	$420M	8,273	59.5%	8.0%
2005	69.7%	$905M	$1.30B	$395M	8,222	68.6%	10.5%

What the Data Says About St. Paul Teachers' Retirement Fund Association

St. Paul Teachers' Retirement Fund Association is funded above the midpoint but still carries a real shortfall, 8 points below the 75.5% national average across tracked plans. A 5-year average investment return of 8.3% factors into the plan's overall trajectory.

For Minnesota taxpayers and plan members, the $633M source-reported actuarial unfunded liability is the shortfall this plan must close over time.

Where this data comes from + how funding gaps get resolved

These figures come from the Public Plans Database, a collaboration between the Boston College Center for Retirement Research and NASRA that compiles them from each plan's Comprehensive Annual Financial Reports (CAFRs) and actuarial valuations. The relationship between contribution adequacy and investment performance determines whether an unfunded liability narrows or expands year over year, and the gap itself is typically closed through some combination of higher contributions, investment returns, or benefit modifications. See our methodology for how public-pension funding differs from ERISA-backed private plans, and our disclaimer below before acting on this data.

Membership

3,360

Active Members

4,406

Retirees

10,377

Total Members

Plan Details

Plan Type: Teachers
State: Minnesota
Market Assets: $1.34B

Source: Public Plans Database (PPD)
Boston College CRR / NASRA

Plans With a Similar Funded Ratio

The closest plans nationwide to St. Paul Teachers' Retirement Fund Association's 98.5% funded ratio.

Showing 5 of 191 plans nationwide with a reported funded ratio.

Kansas City Police 98.6%
New York State Teachers Retirement System 98.6%
Oklahoma Teachers Retirement System 98.6%
Manchester Employees' Contributory Retirement System 98.6%
Milwaukee City ERS 98.6%

Other Minnesota Plans

All Minnesota plans →

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Cite this page

PlainPension, “St. Paul Teachers' Retirement Fund Association: Funded Ratio, Assets, and Actuarial Data.” Compiled from the Public Plans Database (PPD), compiled by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA; data as of FY2023 plan card; history through FY2024. https://plainpension.com/plan/st-paul-teachers-retirement-fund-association

Formal citation formats (APA / MLA)

APA: PlainPension. (2023). St. Paul Teachers' Retirement Fund Association: Funded Ratio, Assets, and Actuarial Data. Retrieved September 23, 2026, from https://plainpension.com/plan/st-paul-teachers-retirement-fund-association

MLA: "St. Paul Teachers' Retirement Fund Association: Funded Ratio, Assets, and Actuarial Data." PlainPension, 2023, https://plainpension.com/plan/st-paul-teachers-retirement-fund-association.

You are welcome to quote these figures with attribution to PlainPension and the underlying source. The URL above is stable. See our Terms of Use for what reuse is permitted.

Every figure on PlainPension is rendered directly from the Public Plans Database (Boston College Center for Retirement Research), no number is typed in by an editor. St. Paul Teachers' Retirement Fund Association ranks #18 of 192 by funded ratio and #137 of 190 by membership. This information is for informational purposes only and does not constitute professional advice, consult a qualified professional before acting on it. See our editorial standards & corrections policy, the typed corrections pathway, the methodology behind these numbers, or report a data error. Data current as of July 2026.

Compiled by PlainPension · July 23, 2026