transparency

CPS Energy Pension Plan

Overview

Contact Information:
PO Box 1771
San Antonio, TX 78296
https://www.cpsenergy.com/en/about-us/who-we-are/financial-information/pension-information.html
Phone: (210) 353-2948
Fax: None Reported

Classification: 810
Year Created:
Fiscal Year-End Month: 12

Total Members : 5,695

  Active Members: 2,759
  Inactive Members : 258
  Total Annuitants: 2,678
  (Effective Date: 1/1/2022)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $2,190,958,467

Total Assets : $2,192,276,398
Total Liabilities : $1,317,931
Total Additions : $391,478,157
Employer Contributions:
$61,618,031
15.74%
Employee Contributions:
$14,063,869
3.59%
Other Contributions:
$0
0.00%
Investment Income:
$315,796,257
80.67%
Other Income:
$0
0.00%

Total Deductions  : $120,153,437
Benefit Payments:
Benefit Tier Details
$3,216,647
2.68%
Withdrawals:
$110,229,593
91.74%
Administrative Expenses:
$529,265
0.44%
Investment Expenses:
$5,777,932
4.81%
Other Expenses:
$400,000
0.33%
Total Contribution Rate: 18.63%
(Effective Date: 1/1/2022)
Employer: 5.00%
Employee: 23.63%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.00%
  • 1-Year Return: 15.76%
  • 3-Year Return: 14.16%
  • 10-Year Return: 9.68%
  • 30-Year Return: 8.91%
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.00%

Actuarial

(Effective Date: 1/1/2022)
Actuarial Value of Assets : $2,190,958,467
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: $1,993,536,984
Actuarial Assumption Details

Actuarial Funded Ratio : 87.63%

Market Funded Ratio: 96.31%

Amortization Period (Yrs) : 25
Unfunded Liability : $281,341,933
Unfunded Liability per Member: $49,402

Benefit Tier Details

Eligible Members:
All
Vesting:
Graded 100% at 7 YCS; or 100% at age 40
Age/YCS:
65/7
Benefit Formula:
(Years of Credited Service x 2.25% x Final Average Salary) - (1.25% x Primary Social Security Benefit x YCS <= 40 yrs)
Final Average Salary:
Highest 36 consecutive months within final 10 years
Automatic COLA:
50% of the change in CPI, 5% max
Benefit Tier Options:
None
Social Security:
Yes

Investment Policy Details

Effective Date: 11/17/2022

Asset Class:
Fixed Income
Minimum Allocation:
14%
Maximum Allocation:
34%
Target Allocation:
24%
Asset Class:
Alternative Investments
Minimum Allocation:
2%
Maximum Allocation:
22%
Target Allocation:
12%
Asset Class:
Equities
Minimum Allocation:
45%
Maximum Allocation:
65%
Target Allocation:
55%
Asset Class:
Real Estate
Minimum Allocation:
5%
Maximum Allocation:
15%
Target Allocation:
10%