Texas Municipal Retirement System

Overview

Contact Information:
PO Box 149153
Austin, TX 78714
http://www.tmrs.org
Phone: (512) 476-7577
Fax: (512) 476-5576

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

Total Members : 249,569

  Active Members: 114,384
  Inactive Members : 65,560
  Total Annuitants: 69,625
  (Effective Date: 12/31/201)


Financials

Note:
(Effective Date: 12/31/201)

Total Net Assets: $31,813,811,275

Total Assets : $32,359,250,302
Total Liabilities : $545,439,027
Total Additions : $5,707,683,630
Employer Contributions:
$930,236,155
16.30%
Employee Contributions:
$453,608,174
7.95%
Other Contributions:
$0
0.00%
Investment Income:
$4,323,806,421
75.75%
Other Income:
$32,880
0.00%

Total Deductions  : $1,577,501,794
Benefit Payments:
Benefit Tier Details
$1,445,552,376
91.64%
Withdrawals:
$62,685,940
3.97%
Administrative Expenses:
$24,183,038
1.53%
Investment Expenses:
$44,321,124
2.81%
Other Expenses:
$759,316
0.05%

Total Contribution Rate: 20.38%
(Effective Date: 12/31/201)
Employer: 13.70%
Employee: 6.68%

Historical Investment Returns

(Report Date: 12/31/201)
—  Assumed Rate of Return 6.75%
  • 1-Year Return: 14.71%
  • 3-Year Return: 8.39%
  • 10-Year Return: 6.86%
  • 30-Year Return: 8.27%
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.75%

Actuarial

Note: Amortization period is calculated using system wide aggregate UAAL and payroll amounts.
(Effective Date: 12/31/201)
Actuarial Value of Assets : 31,313,805,957
Market Value of Assets: 31,813,811,275
Actuarial Assumption Details

Actuarial Funded Ratio : 88.00%

Market Funded Ratio: 89.40%

Amortization Period (Yrs) : 17.2
Unfunded Liability : 4,271,031,992
Unfunded Liability per Member: $17,114

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 employee's 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
Note:

Investment Policy Details

Effective Date: 1/1/2019


Asset Class:
Equities
Minimum Allocation:
25%
Maximum Allocation:
45%
Target Allocation:
35%
Note:

Asset Class:
Fixed Income
Minimum Allocation:
25%
Maximum Allocation:
55%
Target Allocation:
40%
Note:

Asset Class:
Real Estate
Minimum Allocation:
5%
Maximum Allocation:
15%
Target Allocation:
10%
Note:

Asset Class:
Alternative Investments
Minimum Allocation:
5%
Maximum Allocation:
25%
Target Allocation:
15%
Note:

Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
10%
Target Allocation:
0%
Note: