Texas ERS Basics

  • Established 1947
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Texas ERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 18.06
2002 16.45
2003 17.47
2004 18.80
2005 20.45
2006 21.55
2007 23.48
2008 21.46
2009 19.10
2010 19.58
2011 21.20
2012 21.83
2013 22.87
2014 25.05
2015 24.00
2016 24.47
2017 26.37
2018 27.75
2019 27.35

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

Fiscal Year Texas ERS US State and Local Pensions
2001 3.1 2.5
2002 2.9 2.4
2003 2.5 2.3
2004 2.2 2.2
2005 2.1 2.1
2006 2.0 2.1
2007 1.9 2.0
2008 1.9 2.0
2009 1.9 1.9
2010 1.8 1.8
2011 1.6 1.7
2012 1.5 1.6
2013 1.5 1.5
2014 1.4 1.5
2015 1.4 1.5
2016 1.4 1.4
2017 1.3 1.4
2018 1.3 1.3
2019 1.2 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Texas ERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 5.7 0.0 5.0 4.8
2002 6.0 0.0 4.8 5.8
2003 6.3 0.2 5.7 6.5
2004 6.0 0.7 7.3 6.8
2005 5.7 0.9 9.0 6.6
2006 6.3 0.9 9.3 7.2
2007 6.3 0.8 10.0 7.1
2008 6.3 0.7 10.4 6.9
2009 6.2 2.9 10.2 9.1
2010 6.7 3.9 10.5 10.6
2011 7.1 5.1 12.5 12.2
2012 6.1 6.3 12.9 12.4
2013 6.3 6.1 13.9 12.4
2014 7.8 4.0 14.5 11.8
2015 7.5 3.6 14.9 11.1
2016 10.1 0.0 14.8 10.0
2017 10.3 0.2 15.1 10.5
2018 10.1 3.4 18.1 13.6
2019 10.2 3.3 18.7 13.5

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Texas ERS, 2001-2019

Fiscal Year Texas ERS National Data
2001 104.9 106.5
2002 102.5 101.1
2003 97.6 94.2
2004 97.3 93.1
2005 94.8 91.1
2006 95.2 90.5
2007 95.6 91.2
2008 92.6 90.2
2009 89.8 83.2
2010 85.4 81.5
2011 84.5 80.4
2012 82.6 78.9
2013 79.6 78.7
2014 77.2 79.0
2015 76.3 78.2
2016 75.2 76.3
2017 70.1 76.4
2018 70.2 76.5
2019 70.5 76.3

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

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Investments

Asset Allocation for Texas ERS, 2019

Category Percent
Equities 40.6
Fixed Income 26.9
Private Equity 0.0
Real Estate 0.0
Cash 1.5
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 30.9

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.0
Fixed Income 22.8
Private Equity 9.2
Real Estate 8.8
Cash 1.9
Other 0.0
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Texas ERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 57.3 42.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 57.3 42.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 58.4 41.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 59.9 40.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0
2005 62.4 37.2 0.0 0.0 0.4 0.0 0.0 0.0 0.0
2006 62.5 37.0 0.0 0.0 0.6 0.0 0.0 0.0 0.0
2007 63.2 36.1 0.0 0.0 0.7 0.0 0.0 0.0 0.0
2008 60.7 36.9 0.0 0.0 0.3 0.0 0.0 0.0 2.1
2009 57.7 38.8 0.0 0.0 1.3 0.0 0.0 0.0 2.3
2010 60.1 35.7 0.0 0.0 1.1 0.0 0.0 0.0 3.1
2011 59.3 34.3 0.0 0.0 1.1 0.0 0.0 0.0 5.4
2012 55.8 34.4 0.0 0.0 1.2 0.0 0.0 0.0 8.6
2013 53.8 31.6 0.0 0.0 0.9 0.0 0.0 0.0 13.7
2014 53.9 25.6 0.0 0.0 0.8 0.0 0.0 0.0 19.7
2015 50.9 23.2 0.0 0.0 0.9 0.0 0.0 0.0 24.9
2016 47.9 23.6 0.0 0.0 1.3 0.0 0.0 0.0 27.3
2017 47.4 23.5 0.0 0.0 2.0 0.0 0.0 0.0 27.1
2018 46.9 23.2 0.0 0.0 2.3 0.0 0.0 0.0 27.6
2019 40.6 26.9 0.0 0.0 1.5 0.0 0.0 0.0 30.9

Source: Public Plans Database

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Annual Return as of August 31 for Texas ERS, 2001-2019

Fiscal Year Texas ERS Assumed return
2001 -6.91 8.00
2002 -7.17 8.00
2003 9.20 8.00
2004 11.69 8.00
2005 12.71 8.00
2006 8.83 8.00
2007 13.88 8.00
2008 -4.58 8.00
2009 -6.60 8.00
2010 6.65 8.00
2011 12.58 8.00
2012 8.22 8.00
2013 10.07 8.00
2014 14.70 8.00
2015 0.49 8.00
2016 5.32 8.00
2017 12.15 8.00
2018 9.58 7.50
2019 3.04 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Texas ERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -338.6 18,061.5
2002 -341.1 16,447.6
2003 -436.2 17,467.4
2004 -664.9 18,797.7
2005 -680.3 20,448.7
2006 -638.4 21,548.1
2007 -691.5 23,479.7
2008 -721.5 21,464.3
2009 -750.4 19,097.8
2010 -721.1 19,580.6
2011 -791.5 21,204.1
2012 -993.4 21,825.6
2013 -1,054.8 22,868.5
2014 -1,070.9 25,050.1
2015 -1,108.7 23,998.5
2016 -806.5 24,465.6
2017 -926.5 26,371.8
2018 -1,049.0 27,753.3
2019 -1,161.2 27,351.2

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Texas ERS
2001-2019

Fiscal Year Texas ERS National Average
2001 -1.9 -2.3
2002 -2.1 -2.3
2003 -2.5 -2.6
2004 -3.5 -1.7
2005 -3.3 -1.9
2006 -3.0 -1.9
2007 -2.9 -1.7
2008 -3.4 -1.9
2009 -3.9 -2.7
2010 -3.7 -2.9
2011 -3.7 -2.8
2012 -4.6 -3.1
2013 -4.6 -3.0
2014 -4.3 -2.7
2015 -4.6 -2.8
2016 -3.3 -3.0
2017 -3.5 -2.9
2018 -3.8 -2.4
2019 -4.2 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Texas ERS benefit descriptions.