NYSTRS Financial Performance Overview 1998-2017
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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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
