transparency

Texas Municipal Retirement System

Overview

Contact Information:
PO Box 149153
Austin, TX 78714-9153
http://www.tmrs.org
Phone: (800) 924-8677
Fax: (512) 476-5576

Classification: Statewide
Year Created: 1947
Fiscal Year-End Month: 12

Total Members : 266,814

  Active Members: 116,053
  Inactive Members : 74,086
  Total Annuitants: 76,675
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $38,593,014,384

Total Assets : $39,339,481,912
Total Liabilities : $746,467,528
Total Additions : $6,080,900,376
Employer Contributions:
$1,076,907,798
17.71%
Employee Contributions:
$492,319,722
8.10%
Other Contributions:
$0
0.00%
Investment Income:
$4,511,112,684
74.18%
Other Income:
$560,172
0.01%

Total Deductions  : $1,770,779,026
Benefit Payments:
Benefit Tier Details
$62,336,087
3.52%
Withdrawals:
$1,645,334,415
92.92%
Administrative Expenses:
$20,679,140
1.17%
Investment Expenses:
$42,010,847
2.37%
Other Expenses:
$418,537
0.02%
Total Contribution Rate: 14.66%
(Effective Date: 12/31/2021)
Employer: 6.70%
Employee: 21.36%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 6.75%
  • 1-Year Return: 12.86%
  • 3-Year Return: 11.66%
  • 10-Year Return: 7.76%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.75%

Actuarial

(Effective Date: 12/31/2021)
Actuarial Value of Assets : $38,593,014,384
Actuaries often select an asset valuation method that smooth the effects of short‐term volatility in the market value of assets. The actuarial value of assets is intended to give fund managers a more accurate picture of the fund’s ability to cover its liabilities.
Market Value of Assets: $36,281,686,544
Actuarial Assumption Details

Actuarial Funded Ratio : 90.52%

Market Funded Ratio: 96.29%

Amortization Period (Yrs) : 15.3
Unfunded Liability : $3,799,854,974
Unfunded Liability per Member: $14,242

Benefit Tier Details

Eligible Members:
All
Vesting:
Varies by plan: 5 or 10 YCS
Age/YCS:
Choice of 60/5, 60/10, 20 YCS, or 25 YCS
Benefit Formula:
Lifetime Monthly Benefit based on employees account balance - Employee contributions with 5% annual interest plus city matching funds and other credits as may be granted by the employer.
Final Average Salary:
N/A
Automatic COLA:
Optional
Benefit Tier Options:
None
Social Security:
Varies

Investment Policy Details

Effective Date: 12/8/2022

Asset Class:
Alternative Investments
Minimum Allocation:
12%
Maximum Allocation:
42%
Target Allocation:
27%
Asset Class:
Real Estate
Minimum Allocation:
7%
Maximum Allocation:
17%
Target Allocation:
12%
Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
3%
Target Allocation:
0%
Asset Class:
Equities
Minimum Allocation:
25%
Maximum Allocation:
45%
Target Allocation:
35%
Asset Class:
Fixed Income
Minimum Allocation:
16%
Maximum Allocation:
36%
Target Allocation:
26%