Biennial Report Documents TRS’ “Texas Sized” Impact on State’s Economy
The TRS on Thursday released its 2024 TRS Value Report: A Texas Sized Impact publication that summarizes the economic impact the retirement system has on the state’s economy.
The reported totals for state Fiscal Year 2024 that ended Aug. 31, 2024, included:
- $46.8 billion — The economic impact of TRS pension and health care payments.
- $13.45 billion — The value of annuity payments to TRS retirees (more than $1 billion paid monthly to retirees and annuitants).
- $4.9 billion — The value of medical claims paid ($15 million in medical and pharmacy claims paid each day).
The report also notes that 1 in 19 Texans is a member of the TRS pension trust fund. The report also provides estimated annuity and health care benefit payment totals for each of the state’s 254 counties.
TRS is one of the largest retirement systems in the nation. As of June 30, 2024, the TRS pension fund had a market value of $203.7 billion.
Said TRS Executive Director Brian Guthrie: “This external analysis shows not only the value TRS benefits provide to our members and retirees, but a measurable influence on Texas’ economic well-being.”
The report is produced in the fall of even-numbered years.
