Announcements

TMRS Board of Trustees Adopts New Rules

The TMRS Board of Trustees adopted new rules that became effective November 19, 2020. These new rules can be found in Chapter 121, Practice and Procedure Regarding Claims and Chapter 123, Actuarial Tables and Benefit Requirements, of the Texas Administrative Code, Title 34, Part 6. For more details, visit TMRS’ Legislative web page or view the code here.

Good News for Retirees: Direct Deposit Changes Can Now Be Made on MyTMRS!

Retirees with a MyTMRS account can now update their bank information online. Log in to MyTMRS if you need to change your direct deposit preference. If you don't have a MyTMRS account, this page contains instructions.

Online Counseling

Most member questions can be answered by our Phone Center at 800.924.8677, but, if you need additional counseling, TMRS is here to help. You can call the Phone Center and request an appointment with a counselor for a time that's convenient for you. Currently, the TMRS Travel Team is handling these calls and you can also contact them by email at TravelTeam@tmrs.com. Detailed contact information for the Travel Team is also posted in the TMRS Town Square.

TMRS Executive Director Retires

This week TMRS marked David Gavia's retirement with a mostly virtual celebration, which included presenting David with a Texas Capitol flag and certificate. Although this retirement celebration was unconventional, the sentiments were genuine and filled with great memories. David will be missed, and will always be recognized as a part of Texas history for his steadfast leadership at TMRS. TMRS extends gratitude and best wishes to David Gavia for his years of service to our Members, retirees, and cities.

2019 Financial Reports Posted

In its June meeting, the TMRS Board of Trustees approved the 2019 TMRS Comprehensive Annual Financial Report (CAFR). The CAFR, posted on the Financial Reports web page, is prepared annually by the TMRS Finance staff and may be downloaded by sections or as a full PDF (151 pages). In addition to the CAFR, the 2019 Schedule of Changes in Fiduciary Net Position is available (56 pages).

City Rate Letters Available

2021 Rate Letters are now available on the TMRS website. Choose your city’s name from the drop-down menu to view or download your rate letter. The letter contains detailed information on your city’s contribution rate for the year beginning January 1, 2021. Call 800-924-8677 if you have questions.

Please note that the information your city will need for its financial disclosures (your GASB reporting packages) will be available as two separate downloads (for GASB 68 and GASB 75, if applicable) on the TMRS website by July 31.

Actuarial Valuation Available

The TMRS Board of Trustees approved the System’s Actuarial Valuation for the year ending December 31, 2019. The complete valuation, which is now available to download, contains rate information for cities for the year beginning January 1, 2021. Individual city rate letters will be available in early June.

Visit the TMRS Town Square!

The TMRS Travel Team is offering a new way to serve our customers remotely. The TMRS Town Square page on our website offers videos, live streams, and face-to-face meetings for cities and members. Watch this video introduction to the Town Square. In these challenging times, we are fortunate that technology can help us stay connected with our cities and members. See you in the Square!

Email Update for Members

TMRS recently sent out a Special E-Bulletin to all TMRS members with valid email addresses on file. Like our previous COVID-19 updates, the enewsletter covers questions that have arisen during the current crisis. The primary topic of the issue is understanding the types of service credit, which may help members reach vesting or retirement eligibility sooner. Other topics covered are how to know your vested status and service retirement eligibility and important resources for members. If you haven’t been receiving these email updates, go to MyTMRS and update your email address (use a longstanding email). If you know someone who is a TMRS member but does not receive email from TMRS, please pass along the newsletter and encourage them to sign up.

Privacy Notice has Been Updated

The Privacy Notice on the TMRS website has been posted so that all plan participants will be aware of TMRS’ privacy practices. The notice spells out what confidential information we collect, how we use it, how we keep it secure, and your rights regarding your personal information. We constantly improve our internal policies and procedures in order to protect your confidential data that we receive and use for our business operations.

COVID Communication to All TMRS Cities

TMRS sent out a Special E-Bulletin today that covered several questions that have arisen during the current crisis. The update includes a TMRS status report from the Executive Director, issues affecting furloughs and other reductions in force, compensation under FFCRA provisions, Extended Supplemental Death Benefits (ESDB), and enrolling new members using the City Portal.

Use the City Portal for Member Enrollments

During the current crisis, many of our cities are working remotely. TMRS wants to let cities know that the best way to enroll new members in TMRS is with the City Portal. The City Portal is a secure electronic application, and using it eliminates the need to complete and sign paper forms for new member enrollment. Find more information on the City Portal here.

Getting set up on the City Portal is easy. If you need help, please send an email to CityPortal@tmrs.com.

Your Retirement is Secure

Whenever the financial markets experience downturns, some TMRS members become concerned about their retirement benefits. It is important to remember that your benefit is not tied to investment returns and that a market correction does not affect your TMRS account or your monthly benefit. Market volatility is expected but TMRS is a long-term investor and our investment philosophy is designed to achieve our goals through asset diversification and prudent strategies.

Member Annual Statements Begin Mailing Soon

TMRS will send Member Annual Statements to active TMRS members (contributing and noncontributing) in four groups according to the ZIP Code schedule below. At the time they mail, the statements will also be available on MyTMRS. They show your member account balance as of December 31, 2019 and provide beneficiary information and retirement estimates. If you have questions about your statement, please contact TMRS at 800-924-8677.

TMRS Welcomes Two New Board Members

Governor Abbott appointed Anali Alanis, Assistant City Manager of Pharr, and Juan Diego “Johnny” Huizar, City Manager of Pleasanton, to the TMRS Board of Trustees on February 4. Mrs. Alanis replaces Jim Jeffers of Nacogdoches, who retired in January 2020. Mr. Huizar replaces Jim Parrish of Plano, who retired in 2019. TMRS welcomes Mrs. Alanis and Mr. Huizar and thanks Mr. Parrish and Mr. Jeffers for their dedication and service.

Retirement Account Statements Now Available

Annual account statements for TMRS retirees are now available on MyTMRS and will also be mailed today, February 10. The statements show the payment and withholding amount, retirement plan option, retirement date, beneficiary designation, and amount of COLA (if applicable) in effect for 2020. Member Annual Statements will be available in March. If you have questions about your statement, call our Phone Center at 800-924-8677.

Tax Documents Now Available

The 2019 1099-R tax statements are now available for download through MyTMRS. These documents were also mailed to all payees on January 22. Please note that tax statements are not provided for members who are current contributors to TMRS. The 1099-Rs are only provided for annuitants and members who received payments in 2019.

Rate Reminder Letters for Cities

TMRS mailed letters to cities on January 16, 2020, reminding them of their 2020 contribution rate. This letter includes the updated rates for cities that adopted an ordinance since the last valuation. This rate is effective January 1, 2020 with the January payroll report, which must be submitted to TMRS no later than February 15, 2020. If you have questions about your city’s rate or how to submit your payroll, please call our office at 800.924.8677.

Annual Interest Credit Applied

Five percent interest has been applied to all eligible TMRS member accounts as of December 31, 2019. The interest allocation is credited on the balance in member accounts as of January 1, 2019. To view your interest earned and your 2019 transaction history, log in to your account on MyTMRS.