Actuarial liabilities have grown steadily during the last thirty years. The State of Oklahoma has contributed the actuarial required amount only five times in the last thirty years. The System must have additional revenues to cover already existing obligations . TRS has achieved above average investment returns. There is no immediate danger of a default by the System.
Benefits earned by members are a true liability of the state.
Fixing the financial condition of the System will require hardships and discipline. The TRS Board recommends maintaining the present funding schedule, providing assistance to public schools to meet their annual contribution payments, and including a plan to fund benefit improvements when enacted. TRS has suggested directing a portion of the State's Tobacco Case Settlement and annual appropriations from the State's Rainy Day Fund to help pay down unfunded liabilities.