NYSTRS by the NumbersAs of June 30, 2020

New York State Teachers’ Retirement System10 Corporate Woods Drive • Albany, NY 12211

(800) 348-7298 • NYSTRS.org

1

Percent Funded2015 – 2019(Actuarial Accrued Liabilities)

0%

10%

20%

30%

40%

50%

60%70%

80%

90%

100%

110%

120%

2015 2016 2017 2018 2019

Using an Actuarial Value of Assets

104.1%98.4% 99.8% 100.9%

94.2%97.9% 97.7% 99.2%

Using a Market Value of Assets

101.2%99.6%

2

Portfolio PerformanceRate of Return on Investments2016 – 2020

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

7.1%

2.3%

12.5%

9.0%

2016 2017 2018 2019 2020

3.5%

3

Market Value of Assets (Net of Fees)2016 – 2020

2016

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

$110

$120

$130

2017

2018

2019

2020

Figures in billions

$120.5

$107.5

$115.5$119.9 $122.5

As of June 30

Growth of InvestedAssets (at market)1970-2020

4

05101520253035404550556065707580859095100105110115120125

70 75 80 85 90 95 00 05 10 15 20

Years Ending June 30

Dollars in Billions

2020 ..........$120.5 2015 ............109.7 2010 ............. 76.8 2005 ............. 84.9 2000 ............. 89.2 1995 ..............47.0 1990 ............. 25.0 1985 ............. 14.5 1980 ............... 6.6 1975 ............... 4.2 1970 ............... 2.2

Year

Assets

Breakdown ofIncome SourcesFiscal Years Ended 1991-2020

5

84%Investment

Income

14%Employer

Contributions

2%Member

Contributions

EmployerContributionRates

% of Payroll

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

96-97

97-9898-99 00-01 02-03 04-05 06-07

09-1010-11 12-13 14-15 16-17

99-00 01-02 03-04 05-06 07-0808-09

11-12 13-14 15-16 17-1818-19

19-20

School Year

6

20-21

Contributions Collectedvs. Benefits Paid 1990-2020

7

0

10

20

30

40

50

60

70

80

90

100

110

120

130

$126.8

$30.0

$4.5Member

Contributions

EmployerContributions

Benefits andExpenses Paid

Net Position1990 $ 25.0 Billion2020 $120.5 Billion

Billions of Dollars

Distribution of BenefitsPaid by CountyJune 30, 2020

8

$100 million+ $50-$100 million

Up to $25 million

Map Key

Albany

Allegany

Bronx

Broome

Cattaraugus

Cayuga

ChautauquaChemung

Chenango

Clinton

Columbia

Cortland

Delaware

Dutchess

Erie

Essex

Franklin

FultonGenesee

Greene

HamiltonHerkimer

Jefferson

Kings

Lewis

Livingston

Madison

Monroe

Montgomery

Nassau

New York

Niagara Oneida

Onondaga

Ontario

Orange

Orleans

Oswego

Otsego

Putnam

Queens

Rensselaer

Richmond

Rockland

St. Lawrence

Saratoga

Schenectady

Schoharie

Schuyler

Seneca

Steuben

Suffolk

Sullivan

Tioga

Tompkins

Ulster

Warren

Washington

Wayne

Westchester

WyomingYates

N e w Yo r k

$25-$50 million

The Top 20County Annual Benefit County Annual BenefitSuffolk $1,045,913,950 Ulster $126,660,024Nassau 554,790,572 Oneida 123,804,583Erie 473,702,414 Rockland 120,162,482Westchester 381,054,872 Niagara 101,106,631Monroe 376,639,932 Broome 89,554,719Onondaga 266,222,190 Ontario 79,961,107Orange 165,543,467 Chautauqua 79,505,358Dutchess 157,478,152 Schenectady 70,459,046Saratoga 157,089,220 Rensselaer 66,353,587Albany 129,539,754 Oswego 62,913,015

*

* Computed on the optional annual benefit including supplementation and COLA.1 Refer to our Comprehensive Annual Financial Report at NYSTRS.org for a complete list.

1

05101520253035404550556065707580859095100

Average AnnualRetirement Benefit For Service Retirees By Fiscal Year of Retirement

9

Dollars in Thousands

Year2019-202018-192017-182016-172015-162014-152013-142012-132011-122010-11

FAS$90,228 87,085 86,910 85,242

84,308 84,362 84,545 81,987 82,461 85,010

MaximumBenefit$48,273 45,713 45,725 45,049

44,215 44,487 44,978 44,768 45,759 51,200

Final Average Salary (FAS)

Maximum Benefit

Year 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20

Assets Under Management: Internal vs. External June 30, 2020(dollars in millions)

Externally Managed - Active$33,562

28%

Externally Managed - Passive$14,354

12%

Internally Managed$70,840

60% 10

Asset Allocation(at market) June 30, 2020

11

Actual Asset Allocation

Real Estate Equity - 10.0%

Domestic Fixed Income15.9%

Cash Equivalents2.3%

Private Equity - 8.0%

International Equity - 16.4%

Real Estate Debt 6.0%

Target Asset Allocation

Domestic Equity33%Domestic Fixed Income

16%

Cash Equivalents1% Range 0-4%

Private Equity - 8%

International Equity - 16%

Real Estate Debt7%

Range 6-16%

Range 3-11%

Range 3-13%

Range 29-37%Range

12-20%

Global Bonds2.4%

Global Bonds2%

Range 0-3%

High-Yield Bonds0.5%

High-Yield Bonds1% - Range 0-3%

Global Equity - 3.0%

Private Debt 0.6%

Real Estate Equity - 11%

Global Equity 4% Range 0-8%

Range 12-20%

Private Debt1% Range 0-5%

Domestic Equity34.9%

7.4%Consumer Staples 11.6%

Consumer Discretionary

3.3%Energy

12.4%Financials

0.7%Other

4.4%Materials22.4%

InformationTechnology 13.5%

Health Care

2.9%Utilities

9.9%Industrials

12

Public Equity Holdings by Industry Distribution (at market)June 30, 2020

8.7%Communications

Services

2.8%Real Estate

Domestic Fixed Income & High-Yield BondsDistribution (at market)June 30, 2020

13

20.6%Federal AgencyMortgage Backed& Asset Backed

4.8%Federal Agency

Notes/Debentures

34.9%Corporate

39.7%U.S. Treasury

Private Equity Net Asset Value by Investment Type

June 30, 2020

14

6.9%Fund of Funds

3.2%Secondary Funds

8.5%Co-Investments

66.5%LBO/MBO

5.4%Turnaround

<0.1%Other

9.5%Venture Capital

Real Estate Equity(at market)June 30, 2020

15

Equity Portfolio

Geographic Region

2.7%Timber

Investments

34.2% Private

Securities

39.3%Direct

Investments

18.4%Northeast

23.8%Public Securities

28.8%Pacific

11.0% Mideast

3.0% Mountain12.9%Non-U.S.Asia - 5.6%

Europe - 5.7%Americas - 1.6%

0.6% West N. Central

12.5% Southeast

5.6% Southwest

3.3% East N. Central

3.9%Other U.S.Various - 3.9%

Active Members byTier of Membershipas of June 30, 2020

16

Tier 465.2%

170,306

Active Members261,232

Tier 55.0%

13,040 Tier 629.0%75,717

Tier 30.6%1,638

Tiers 1 & 20.2%531