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Point Comfort Joins TMRS
On February 1, Point Comfort became the 935th city to join TMRS.
Point Comfort is located 90 miles north of Corpus Christi, along the banks of Lavaca Bay. The city is an industrial hub for the area. Some of the largest companies in the world, including Alcoa, Dupont, and Union Carbide all have plants in Point Comfort.
TMRS is thrilled to welcome Point Comfort into the System.
2023 IRS Form 1099-R and HELPS Statements Are in the Mail
TMRS has mailed retirees their 2023 IRS Form 1099-R. Retirees can also download the IRS Form 1099-R in MyTMRS under the Documents tab.
Retired public safety officers who are enrolled in the HELPS program have been mailed a letter stating the amount of 2023 insurance premium payments issued by TMRS.
GFOA Recognizes TMRS’ 2022 ACFR
In January, the Government Finance Officers Association of the United States and Canada (GFOA) honored TMRS with its Certificate of Achievement for Excellence in Financial Reporting for TMRS’ 2022 Annual Comprehensive Financial Report (ACFR).
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. According to the GFOA, this acknowledgement underscores TMRS’ commitment to transparency and financial excellence. This is the 36th consecutive year that TMRS has received the Certificate of Achievement.
2024 Retirement Benefit Statements Are Now Available
Your 2024 Retirement Benefit Statement is now available in MyTMRS. View your benefit amount and other account information for 2024.
If you have questions, call the Member Service Center at 800-924-8677.
New 2024 Board Officers
At its December 14 meeting, TMRS’ Board of Trustees elected new officers for 2024.
Johnny Huizar, the City Manager of Pleasanton, will become the 2024 Board Chair. Mr. Huizar has served on the Board since 2020 and has been the Board Vice Chair, Chair and Vice Chair of the Budget and Compensation Committee, and Vice Chair of the Audit Committee.
Bill Philibert, the Director of Human Resources and Risk Management for Deer Park, will serve as the 2024 Board Vice Chair. Mr. Philibert has served on the Board since 2013 and has been the Board Chair and Vice Chair, Chair of the Audit Committee, Vice Chair of the Budget and Compensation Committee, and Chair and Vice Chair of the former Advisory Committee on Benefit Design.
Yup Kim Will Join TMRS as Chief Investment Officer
TMRS Executive Director David Wescoe announced today that Yup Kim, Investment Director and Head of Investments for Private Equity at the California Public Employees Retirement System, will become TMRS’ Chief Investment Officer on January 15, 2024. Kim replaces Dave Hunter, who announced his retirement in early November and who will be leaving TMRS in January.
In announcing the news, Wescoe said, “TMRS and its Members are extremely fortunate to have Yup Kim join our leadership team. He is one of the most respected public pension plan investors in the country. At CalPERS, Yup partners with a team of 30 investment professionals who manage almost $60 billion in global private equity assets. When CalPERS hired Yup in 2020, they said he was ‘a thought leader in the industry with a unique combination of strategic insight, investing acumen, and management experience.’ I couldn’t agree more.”
Prior to joining CalPERS, Kim was a senior portfolio manager at the Alaska Permanent Fund Corporation (APFC), where he was recognized by Chief Investment Officer magazine with its “Forty Under Forty” award at age 32. During Kim’s tenure at APFC, an investment fund General Partner described APFC as having “the ultimate model of having a small team of very thoughtful people leveraging their GP network constructively to generate some really interesting deal flow, executing on it and delivering good returns…not many people execute and execute well.” Prior to APFC, Kim served as a member of Deutsche Bank Private Equity’s global investment committee and held roles at Performance Equity, Silver Point Capital, and Citigroup.
Kim graduated from Yale University with a B.A. in economics, speaks six languages and is a prolific author, lecturer, and speaker. Kim serves as chair for the Milken Institute’s Rising Allocators, Board of Directors for the Korea Finance Society, and Term Member at the Council of Foreign Relations.
Commenting on joining TMRS, Kim said, “I am honored to partner with David and the exceptional investment team at TMRS to strengthen its global investment presence and partnerships in support of TMRS’ many members, retirees, and beneficiaries.”