Ted Wright provided an update on the TRS pension performance. Ted has been the Chief Investment Officer for the past four years. Ted provided information including but not limited to the Teachers’ Retirement is the largest piece of the state pension followed by the State Employees’ Retirement Fund. The return profile over the long term for 10 years is over 8% annualized. The asset allocation is a little different from two years ago in that the private equity is larger than it was a couple years ago. Private credit is 9.9% Ted also stated that the largest allocation is domestic equity. It was a good year for public equity. Four years ago when Ted joined, we used to be one of the worst performers. Now we’re one of the best performers in the country. Our numbers are outstanding for a pension fund the size we are. Our one-year number is the 31st percentile which means we outperformed 69 percent of our larger peers. Ted stated that the work of the Advisory Council, the Treasurer, and the ability to hire really strong talent has really made his job considerably easier.

A motion was moved by Jon Moss and seconded by Greg Messner to approve the pension update presented by Ted Wright. All members voted in favor and the motion was passed.

Link to TRB Minutes November 12, 2025; Ted Wright Office of the State Treasurer Report on Pension Fund