U.S. Pension Tracker

Joe Nation, Ph.D.

Pension Tracker Project Director
Bill Lane Center for the West

The Bottom 25% (Lowest quartile) indicates relatively lower unfunded liabilities. The Top 25% (Highest quartile) indicates relatively higher unfunded liabilities. Metrics reflect the Fiscal Year selected. Agencies reported as NA or agencies for which we do not have geographic locations are excluded from calculations. See Glossary for additional information.

Data reflect Fiscal Year (FY) 2019, the most recent available.

Tennessee, All State and Local Systems

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Plan : From year: to
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable 2017 2018 2019
Market Liability (thousands) $105,542,005 $105,299,904 $108,289,741
Value of Assets (thousands) $56,875,781 $58,817,286 $62,495,121
Market Pension Debt (thousands) $48,666,223 $46,482,617 $45,794,620
Market Discount Rate 3.00% 3.25% 3.25%
Actuarial Liability (thousands) $60,533,979 $62,328,794 $64,098,529
Actuarial Pension Debt (thousands) $3,658,198 $3,511,507 $1,603,408
Assumed Rate of Return 7.50% 7.50% 7.50%
  • Variable

    Market Liability (thousands)

    • 2019

      $108,289,741

    • 2018

      $105,299,904

    • 2017

      $105,542,005

    • 2016

      $99,518,480

    • 2015

      $93,297,750

    • 2014

      NA

    • 2013

      $86,471,216

    • 2012

      NA

    • 2011

      $74,985,458

    • 2010

      NA

    • 2009

      $63,763,859


  • Variable

    Value of Assets (thousands)

    • 2019

      $62,495,121

    • 2018

      $58,817,286

    • 2017

      $56,875,781

    • 2016

      $54,936,919

    • 2015

      $52,952,590

    • 2014

      NA

    • 2013

      $47,629,565

    • 2012

      NA

    • 2011

      $44,640,337

    • 2010

      NA

    • 2009

      $38,216,476


  • Variable

    Market Pension Debt (thousands)

    • 2019

      $45,794,620

    • 2018

      $46,482,617

    • 2017

      $48,666,223

    • 2016

      $44,581,561

    • 2015

      $40,345,160

    • 2014

      NA

    • 2013

      $38,841,650

    • 2012

      NA

    • 2011

      $30,345,121

    • 2010

      NA

    • 2009

      $25,547,383


  • Variable

    Market Discount Rate

    • 2019

      3.25%

    • 2018

      3.25%

    • 2017

      3.00%

    • 2016

      3.00%

    • 2015

      3.25%

    • 2014

      3.00%

    • 2013

      3.20%

    • 2012

      2.50%

    • 2011

      4.00%

    • 2010

      3.70%

    • 2009

      4.20%


  • Variable

    Actuarial Liability (thousands)

    • 2019

      $64,098,529

    • 2018

      $62,328,794

    • 2017

      $60,533,979

    • 2016

      $57,079,166

    • 2015

      $55,224,516

    • 2014

      NA

    • 2013

      $50,862,487

    • 2012

      NA

    • 2011

      $48,764,123

    • 2010

      NA

    • 2009

      $42,515,266


  • Variable

    Actuarial Pension Debt (thousands)

    • 2019

      $1,603,408

    • 2018

      $3,511,507

    • 2017

      $3,658,198

    • 2016

      $2,142,247

    • 2015

      $2,271,926

    • 2014

      NA

    • 2013

      $3,232,922

    • 2012

      NA

    • 2011

      $4,123,786

    • 2010

      NA

    • 2009

      $4,298,790


  • Variable

    Assumed Rate of Return

    • 2019

      7.50%

    • 2018

      7.50%

    • 2017

      7.50%

    • 2016

      7.50%

    • 2015

      7.50%

    • 2014

      NA

    • 2013

      7.50%

    • 2012

      NA

    • 2011

      7.50%

    • 2010

      NA

    • 2009

      7.50%


*Recommended not to combine dollar and other categories.

Funded Ratios

Variable 2017 2018 2019
Market Funded Ratio 53.9% 55.9% 57.7%
Actuarial Funded Ratio 94.0% 94.4% 97.5%
  • Variable

    Market Funded Ratio

    • 2019

      57.7%

    • 2018

      55.9%

    • 2017

      53.9%

    • 2016

      55.2%

    • 2015

      56.8%

    • 2014

      NA

    • 2013

      55.1%

    • 2012

      NA

    • 2011

      59.5%

    • 2010

      NA

    • 2009

      59.9%


  • Variable

    Actuarial Funded Ratio

    • 2019

      97.5%

    • 2018

      94.4%

    • 2017

      94.0%

    • 2016

      96.2%

    • 2015

      95.9%

    • 2014

      NA

    • 2013

      93.6%

    • 2012

      NA

    • 2011

      91.5%

    • 2010

      NA

    • 2009

      89.9%


*Recommended not to combine dollar and other categories.

State Demographics

Variable 2017 2018 2019
Population 6,715,984 6,770,010 6,829,174
Households 2,588,655 2,567,061 2,597,292
  • Variable

    Population

    • 2019

      6,829,174

    • 2018

      6,770,010

    • 2017

      6,715,984

    • 2016

      6,651,194

    • 2015

      6,600,299

    • 2014

      6,549,352

    • 2013

      6,495,978

    • 2012

      6,456,243

    • 2011

      6,403,353

    • 2010

      6,356,897

    • 2009

      6,296,254


  • Variable

    Households

    • 2019

      2,597,292

    • 2018

      2,567,061

    • 2017

      2,588,655

    • 2016

      2,556,332

    • 2015

      2,530,260

    • 2014

      2,509,665

    • 2013

      2,490,249

    • 2012

      2,480,090

    • 2011

      2,467,428

    • 2010

      2,440,663

    • 2009

      2,447,066


*Recommended not to combine dollar and other categories.

Budget & Revenue

Variable 2017 2018 2019
State General Fund Expenditures (thousands) $14,728,000 $14,907,000 $15,693,000
State Total Expenditures (thousands) $33,745,000 $34,190,000 $36,909,000
State Total General Fund Revenues (thousands) $13,505,000 $14,294,000 $14,378,000
  • Variable

    State General Fund Expenditures (thousands)

    • 2019

      $15,693,000

    • 2018

      $14,907,000

    • 2017

      $14,728,000

    • 2016

      $13,801,000

    • 2015

      $13,198,000

    • 2014

      $12,837,000

    • 2013

      $12,093,000

    • 2012

      $11,685,000

    • 2011

      $10,561,000

    • 2010

      $9,914,000

    • 2009

      $11,921,000


  • Variable

    State Total Expenditures (thousands)

    • 2019

      $36,909,000

    • 2018

      $34,190,000

    • 2017

      $33,745,000

    • 2016

      $32,949,000

    • 2015

      $32,046,000

    • 2014

      $30,702,000

    • 2013

      $30,491,000

    • 2012

      $30,419,000

    • 2011

      $30,228,000

    • 2010

      $28,449,000

    • 2009

      $29,072,000


  • Variable

    State Total General Fund Revenues (thousands)

    • 2019

      $14,378,000

    • 2018

      $14,294,000

    • 2017

      $13,505,000

    • 2016

      $13,823,000

    • 2015

      $11,964,000

    • 2014

      $11,546,000

    • 2013

      $11,450,000

    • 2012

      $11,143,000

    • 2011

      $10,245,000

    • 2010

      $10,017,000

    • 2009

      $9,236,000


*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable 2017 2018 2019
Market Pension Debt/Household $18,800 $18,107 $17,632
Market Pension Debt/Capita $7,246 $6,866 $6,706
Market Pension Debt/State General Fund Expenditures 3.30 3.12 2.92
Market Pension Debt/State Total Expenditures 1.44 1.36 1.24
Market Pension Debt/State Total General Fund Revenues 3.60 3.25 3.19
Actuarial Pension Debt/Household $1,413 $1,368 $617
Actuarial Pension Debt/Capita $545 $519 $235
Actuarial Pension Debt/State General Fund Expenditures 0.25 0.24 0.10
Actuarial Pension Debt/State Total Expenditures 0.11 0.10 0.04
Actuarial Pension Debt/State Total General Fund Revenues 0.27 0.25 0.11
  • Variable

    Market Pension Debt/Household

    • 2019

      $17,632

    • 2018

      $18,107

    • 2017

      $18,800

    • 2016

      $17,440

    • 2015

      $15,945

    • 2014

      NA

    • 2013

      $15,597

    • 2012

      NA

    • 2011

      $12,298

    • 2010

      NA

    • 2009

      $10,440


  • Variable

    Market Pension Debt/Capita

    • 2019

      $6,706

    • 2018

      $6,866

    • 2017

      $7,246

    • 2016

      $6,703

    • 2015

      $6,113

    • 2014

      NA

    • 2013

      $5,979

    • 2012

      NA

    • 2011

      $4,739

    • 2010

      NA

    • 2009

      $4,058


  • Variable

    Market Pension Debt/State General Fund Expenditures

    • 2019

      2.92

    • 2018

      3.12

    • 2017

      3.30

    • 2016

      3.23

    • 2015

      3.06

    • 2014

      NA

    • 2013

      3.21

    • 2012

      NA

    • 2011

      2.87

    • 2010

      NA

    • 2009

      2.14


  • Variable

    Market Pension Debt/State Total Expenditures

    • 2019

      1.24

    • 2018

      1.36

    • 2017

      1.44

    • 2016

      1.35

    • 2015

      1.26

    • 2014

      NA

    • 2013

      1.27

    • 2012

      NA

    • 2011

      1.00

    • 2010

      NA

    • 2009

      0.88


  • Variable

    Market Pension Debt/State Total General Fund Revenues

    • 2019

      3.19

    • 2018

      3.25

    • 2017

      3.60

    • 2016

      3.23

    • 2015

      3.37

    • 2014

      NA

    • 2013

      3.39

    • 2012

      NA

    • 2011

      2.96

    • 2010

      NA

    • 2009

      2.77


  • Variable

    Actuarial Pension Debt/Household

    • 2019

      $617

    • 2018

      $1,368

    • 2017

      $1,413

    • 2016

      $838

    • 2015

      $898

    • 2014

      NA

    • 2013

      $1,298

    • 2012

      NA

    • 2011

      $1,671

    • 2010

      NA

    • 2009

      $1,757


  • Variable

    Actuarial Pension Debt/Capita

    • 2019

      $235

    • 2018

      $519

    • 2017

      $545

    • 2016

      $322

    • 2015

      $344

    • 2014

      NA

    • 2013

      $498

    • 2012

      NA

    • 2011

      $644

    • 2010

      NA

    • 2009

      $683


  • Variable

    Actuarial Pension Debt/State General Fund Expenditures

    • 2019

      0.10

    • 2018

      0.24

    • 2017

      0.25

    • 2016

      0.16

    • 2015

      0.17

    • 2014

      NA

    • 2013

      0.27

    • 2012

      NA

    • 2011

      0.39

    • 2010

      NA

    • 2009

      0.36


  • Variable

    Actuarial Pension Debt/State Total Expenditures

    • 2019

      0.04

    • 2018

      0.10

    • 2017

      0.11

    • 2016

      0.07

    • 2015

      0.07

    • 2014

      NA

    • 2013

      0.11

    • 2012

      NA

    • 2011

      0.14

    • 2010

      NA

    • 2009

      0.15


  • Variable

    Actuarial Pension Debt/State Total General Fund Revenues

    • 2019

      0.11

    • 2018

      0.25

    • 2017

      0.27

    • 2016

      0.15

    • 2015

      0.19

    • 2014

      NA

    • 2013

      0.28

    • 2012

      NA

    • 2011

      0.40

    • 2010

      NA

    • 2009

      0.47


*Recommended not to combine dollar and other categories.

Pension Tracker

Bill Lane Center for the West
473 Via Ortega, First Floor
Stanford, CA 94305-4225
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