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Interim STRS director warns of large negative cash flow; 82.5% funded but COLA relief limited since 2017
Summary
Aaron Hood, interim executive director of the State Teachers Retirement System, told the House Public Insurance and Pensions Committee STRS holds roughly $97 billion in assets, serves over 500,000 members, and faces an ongoing negative cash flow of about $4 billion per year between benefits paid and contributions received.
Aaron Hood, interim executive director of the State Teachers Retirement System (STRS), told the House Public Insurance and Pensions Committee that STRS manages approximately $97 billion in assets, serves more than 500,000 active and inactive members, and paid about $8 billion in retirement, disability and survivor benefits in fiscal year 2024.
Hood said STRS faces a substantial negative cash flow — he described contributions from members and employers as roughly $4 billion versus roughly $8 billion in annual benefit payments — and that the plan’s funding and benefit design make investment returns crucial to paying benefits. He reported a funded…
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