TMRS Systems Offline this Weekend
TMRS is planning system maintenance after normal business hours this weekend. The City Portal, MyTMRS and the TMRS website will be unavailable from 5:00 p.m. Friday, July 30, until 8:00 a.m. Monday, August 2.
2021 GASB 75 Reporting Packages Now Available
GASB 75 Reporting Packages for cities that participate in TMRS’ Supplemental Death Benefit Fund (SDBF) with coverage for retirees are now available for download. The GASB 75 Reporting Packages contain detailed disclosure information for your city’s SDBF plan, based on the December 31, 2020 Actuarial Valuation Report.
Chief Investment Officer T.J. Carlson Accepts MOSERS CIO Position
TMRS Chief Investment Officer T.J. Carlson has resigned effective September 7, 2021, to assume the same position with the Missouri State Employees’ Retirement System (MOSERS).
TMRS Executive Director David Wescoe said, “TJ is an experienced and talented investment professional. During his seven-plus years with TMRS, TJ’s many accomplishments include building a first-rate investment team and growing Trust Fund assets from $23.8 billion to $34.5 billion. Everyone associated with TMRS wishes TJ and his family nothing but the best in the future.”
Carlson added, “I have truly enjoyed my time at TMRS, working with our excellent Board and the entire TMRS team to deliver on all our promises to our Members and participating cities. I am proud of all that we have accomplished during my tenure, and I know I am leaving the investment program in a very good place.”
2021 GASB 68 Reporting Packages Now Available
GASB 68 Reporting Packages for TMRS participating cities are now available for download. The Reporting Package contains detailed city pension disclosure information based on TMRS’ December 31, 2020 Actuarial Valuation Report.
Chief Service Officer Eric Davis Announces Retirement
TMRS Chief Service Officer Eric Davis publicly announced that he is retiring on August 31 after 34 years of TMRS service. During his tenure, Eric traveled Texas from north to south and east to west, meeting and educating city councils, city administrators, Members, and retirees about TMRS and the many benefits it provides.
Eric has served as Deputy Executive Director, Interim Executive Director and, in September 2020, became TMRS’ first-ever Chief Service Officer. During Eric’s career, TMRS increased the number of participating cities from 517 to 895, Membership increased from 79,000 to 220,000, and Trust Fund assets grew from $1.4 billion to more than $34 billion. In the past year, Eric helped onboard a new Executive Director, facilitate the upcoming office move to The Grove, establish the first-ever City Services department and pass Senate Bill 1105 that will let retirees return to work for the same city after a one-year break in service.
TMRS Executive Director David Wescoe said, “Eric is ‘Mr. TMRS.’ During his long and successful TMRS career, he has touched tens of thousands of lives. TMRS’ Trustees, staff, Members, retirees_ and participating cities owe him a big ‘thank you’ for his distinguished service.”
Eric said, “It has truly been a privilege and honor to serve the Members, retirees and cities that participate in TMRS. I will retire proudly knowing that TMRS is a more secure and sustainable System than when I arrived, and that I played a small part in its success.”
2020 TMRS Comprehensive Annual Financial Report Available
Today, the TMRS Board of Trustees approved the 2020 TMRS Comprehensive Annual Financial Report for distribution. In addition, the Board received the 2020 Schedule of Changes in Fiduciary Net Position by Participating City.
2021 Annual City Conference Registration is Open
The TMRS 2021 Annual City Conference will be held on July 27 and July 28 from 9 – 11 a.m. The conference will give an annual overview of important information about TMRS. We invite all city personnel who are involved in TMRS benefits to learn more about what is happening at TMRS.
The conference will be online and attendance is free. Register now and look for a link to stream the event the week before the conference.
Plan Change Studies Now Available
Plan change studies utilizing the December 31, 2020 Actuarial Valuation Report results now can be prepared by TMRS staff. These studies compare the cost of a city’s current plan benefits to any alternative TMRS plan benefits. In addition, a report projecting future contribution rates and funded status can also be prepared by TMRS staff utilizing the December 31, 2020 Valuation results. To request a Plan Change Study or Projection report, please contact the City Services Department.
Updated City Dashboard Now Available
The City Dashboard has been updated to include results from the December 31, 2020 Actuarial Valuation Report. The City Dashboard allows TMRS participating cities to analyze various funding metrics by city on a historical basis. A peer comparison with all other TMRS cities and graphs of the data are also available.
2022 City Rate Letters Available
2022 Rate Letters are now available for download by TMRS participating cities. The Rate Letters contain detailed information on each city’s contribution rate for calendar year 2022.
Office Update
The TMRS office is open, and staff has resumed in-person meetings with Members. Call the TMRS Member Service Center (800-924-8677) between 8 a.m. – 5 p.m., Monday – Friday or email help@tmrs.com to schedule an in-person or virtual consultation.
Governor Signs TMRS Return to Work Legislation
On May 28, 2021, Texas Governor Greg Abbott signed Senate Bill 1105 into law, which changes reemployment opportunities for certain TMRS retirees. Beginning September 1, 2021, TMRS retirees will be able to return to work at the city from which they retired after a one-year break in service without having to forfeit their retirement benefit. Also, retirees who have already returned to work for the city from which they retired, after a one-year break in service will have their monthly retirement benefit restarted upon application for this benefit. This amendment will help TMRS’ participating cities recruit experienced employees and retirees who want to return to work. If a retiree returns to work or has returned to work for the same city with less than a one-year break in service, the monthly benefit will still be forfeited during the period of reemployment. TMRS will be contacting those retirees who are affected by this amendment.
TMRS Systems Offline this Weekend
TMRS is planning system maintenance after normal business hours this weekend. The City Portal, MyTMRS and the TMRS website will be unavailable from 5:00 p.m. Friday, July 30, until 8:00 a.m. Monday, August 2.
2021 GASB 75 Reporting Packages Now Available
GASB 75 Reporting Packages for cities that participate in TMRS’ Supplemental Death Benefit Fund (SDBF) with coverage for retirees are now available for download. The GASB 75 Reporting Packages contain detailed disclosure information for your city’s SDBF plan, based on the December 31, 2020 Actuarial Valuation Report.
Chief Investment Officer T.J. Carlson Accepts MOSERS CIO Position
TMRS Chief Investment Officer T.J. Carlson has resigned effective September 7, 2021, to assume the same position with the Missouri State Employees’ Retirement System (MOSERS).
TMRS Executive Director David Wescoe said, “TJ is an experienced and talented investment professional. During his seven-plus years with TMRS, TJ’s many accomplishments include building a first-rate investment team and growing Trust Fund assets from $23.8 billion to $34.5 billion. Everyone associated with TMRS wishes TJ and his family nothing but the best in the future.”
Carlson added, “I have truly enjoyed my time at TMRS, working with our excellent Board and the entire TMRS team to deliver on all our promises to our Members and participating cities. I am proud of all that we have accomplished during my tenure, and I know I am leaving the investment program in a very good place.”
2021 GASB 68 Reporting Packages Now Available
GASB 68 Reporting Packages for TMRS participating cities are now available for download. The Reporting Package contains detailed city pension disclosure information based on TMRS’ December 31, 2020 Actuarial Valuation Report.
Chief Service Officer Eric Davis Announces Retirement
TMRS Chief Service Officer Eric Davis publicly announced that he is retiring on August 31 after 34 years of TMRS service. During his tenure, Eric traveled Texas from north to south and east to west, meeting and educating city councils, city administrators, Members, and retirees about TMRS and the many benefits it provides.
Eric has served as Deputy Executive Director, Interim Executive Director and, in September 2020, became TMRS’ first-ever Chief Service Officer. During Eric’s career, TMRS increased the number of participating cities from 517 to 895, Membership increased from 79,000 to 220,000, and Trust Fund assets grew from $1.4 billion to more than $34 billion. In the past year, Eric helped onboard a new Executive Director, facilitate the upcoming office move to The Grove, establish the first-ever City Services department and pass Senate Bill 1105 that will let retirees return to work for the same city after a one-year break in service.
TMRS Executive Director David Wescoe said, “Eric is ‘Mr. TMRS.’ During his long and successful TMRS career, he has touched tens of thousands of lives. TMRS’ Trustees, staff, Members, retirees_ and participating cities owe him a big ‘thank you’ for his distinguished service.”
Eric said, “It has truly been a privilege and honor to serve the Members, retirees and cities that participate in TMRS. I will retire proudly knowing that TMRS is a more secure and sustainable System than when I arrived, and that I played a small part in its success.”
2020 TMRS Comprehensive Annual Financial Report Available
Today, the TMRS Board of Trustees approved the 2020 TMRS Comprehensive Annual Financial Report for distribution. In addition, the Board received the 2020 Schedule of Changes in Fiduciary Net Position by Participating City.
2021 Annual City Conference Registration is Open
The TMRS 2021 Annual City Conference will be held on July 27 and July 28 from 9 – 11 a.m. The conference will give an annual overview of important information about TMRS. We invite all city personnel who are involved in TMRS benefits to learn more about what is happening at TMRS.
The conference will be online and attendance is free. Register now and look for a link to stream the event the week before the conference.
Plan Change Studies Now Available
Plan change studies utilizing the December 31, 2020 Actuarial Valuation Report results now can be prepared by TMRS staff. These studies compare the cost of a city’s current plan benefits to any alternative TMRS plan benefits. In addition, a report projecting future contribution rates and funded status can also be prepared by TMRS staff utilizing the December 31, 2020 Valuation results. To request a Plan Change Study or Projection report, please contact the City Services Department.
Updated City Dashboard Now Available
The City Dashboard has been updated to include results from the December 31, 2020 Actuarial Valuation Report. The City Dashboard allows TMRS participating cities to analyze various funding metrics by city on a historical basis. A peer comparison with all other TMRS cities and graphs of the data are also available.
2022 City Rate Letters Available
2022 Rate Letters are now available for download by TMRS participating cities. The Rate Letters contain detailed information on each city’s contribution rate for calendar year 2022.
Office Update
The TMRS office is open, and staff has resumed in-person meetings with Members. Call the TMRS Member Service Center (800-924-8677) between 8 a.m. – 5 p.m., Monday – Friday or email help@tmrs.com to schedule an in-person or virtual consultation.
Governor Signs TMRS Return to Work Legislation
On May 28, 2021, Texas Governor Greg Abbott signed Senate Bill 1105 into law, which changes reemployment opportunities for certain TMRS retirees. Beginning September 1, 2021, TMRS retirees will be able to return to work at the city from which they retired after a one-year break in service without having to forfeit their retirement benefit. Also, retirees who have already returned to work for the city from which they retired, after a one-year break in service will have their monthly retirement benefit restarted upon application for this benefit. This amendment will help TMRS’ participating cities recruit experienced employees and retirees who want to return to work. If a retiree returns to work or has returned to work for the same city with less than a one-year break in service, the monthly benefit will still be forfeited during the period of reemployment. TMRS will be contacting those retirees who are affected by this amendment.