NYSTRS Financial Performance Overview 1998-2017
1
Twenty Year Period
Twenty Year Period
Fiscal Years Ended 1998 - 2017
Fiscal Years Ended 1998 - 2017
Employer Contributions
$21.1 billion
Member Contributions
$3.0 billion
MV of assets – 6/30/1997: $ 65.2
MV of assets – 6/30/2017: $115.5
Investment Income
$120.4 billion
Benefit Payments and
Expenses
$94.2 billion
2
B
B
r
r
e
e
a
a
k
k
d
d
o
o
w
w
n
n
o
o
f
f
I
I
n
n
c
c
o
o
m
m
e
e
S
S
o
o
u
u
r
r
c
c
e
e
s
s
F
F
i
i
s
s
c
c
a
a
l
l
Y
Y
e
e
a
a
r
r
s
s
E
E
n
n
d
d
e
e
d
d
1
1
9
9
9
9
8
8
-
-
2
2
0
0
1
1
7
7
3
Funded Ratio
Market Value of Assets (MVA): the value of fund assets as they would trade on an open
market on that date
Actuarial Value of Assets (AVA): the value of assets as used in the actuarial valuation
which reflects a 5-year smoothing of investment gains and losses
4
Great Recession Impact
Great Recession Impact
Market Value of Assets
9/30/2007
$106 B
Market Value of Assets
06/30/2017
$115.5 B
Market Value of Assets
3/31/2009
$68 B
5
NYSTRS experienced significant growth over a twenty-year period, with employer contributions totaling $21.1 billion, member contributions at $3.0 billion, benefit payments and expenses reaching $94.2 billion, and investment income amounting to $120.4 billion. The breakdown of income sources reveals that 83% of income came from investment, 15% from employer contributions, and 2% from member contributions. The fund displayed a strong financial position with funded ratios based on market and actuarial values consistently above 90%. The investment performance history showed a 25-year annualized rate of return of 8.7%, despite facing challenges like the Great Recession which impacted asset values.
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Presentation Transcript
Twenty Year Period Fiscal Years Ended 1998 - 2017 Employer Contributions $21.1 billion Member Contributions $3.0 billion Benefit Payments and Expenses $94.2 billion Investment Income $120.4 billion MV of assets 6/30/1997: $ 65.2 MV of assets 6/30/2017: $115.5 1
Breakdown of Income Sources Fiscal Years Ended 1998 - 2017 Investment Income (83%) Member Contributions (2%) Employer Contributions (15%) 2
Funded Ratio Funded Ratio Based on MVA 95.5% 100.8% 111.6% 104.1% 98.4% 99.8% Funded Ratio Based on AVA 89.8% 87.5% 92.9% 94.2% 97.9% 97.7% 6/30/12 6/30/13 6/30/14 6/30/15 6/30/16 6/30/17 Market Value of Assets (MVA): the value of fund assets as they would trade on an open market on that date Actuarial Value of Assets (AVA): the value of assets as used in the actuarial valuation which reflects a 5-year smoothing of investment gains and losses 3
NYSTRS Investment Performance History of Annual Returns Through June 30, 2017 30.0% 22.0% 25.0% 23.2% 20.0% 19.4% 18.2% 16.1% 12.5% 13.6% 15.0% 10.0% 6.8% 5.0% 2.8% 2.3% 1.8% 0.0% -5.0% -6.8% -10.0% -15.0% -20.0% -20.5% -25.0% 1993 1995 1997 1999 2001 2003 Fiscal Year Ending June 30 2005 2007 2009 2011 2013 2015 2017 25-year annualized rate of return: 8.7% 4
Great Recession Impact Market Value of Assets 9/30/2007 $106 B Market Value of Assets 06/30/2017 $115.5 B Market Value of Assets 3/31/2009 $68 B 5
