Texas ERS Basics

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

Assets, Participants, and Benefits

Assets at Year-End, Texas ERS, 2001-2023

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
2020 27.95
2021 33.61
2022 31.99
2023 34.05

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year Texas ERS US State and Local Pensions
2001 3.1 2.4
2002 2.9 2.3
2003 2.5 2.2
2004 2.2 2.1
2005 2.1 2.1
2006 2.0 2.0
2007 1.9 2.0
2008 1.9 1.9
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 1.4
2015 1.4 1.4
2016 1.4 1.4
2017 1.3 1.4
2018 1.3 1.3
2019 1.2 1.3
2020 1.2 1.3
2021 1.1 1.2
2022 1.1 1.2
2023 1.1 1.2

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, 2001-2023

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 5.3 4.8
2002 6.0 0.0 5.2 5.8
2003 6.3 0.2 6.0 6.5
2004 6.0 0.7 7.8 6.8
2005 5.7 0.9 9.6 6.6
2006 6.3 0.9 9.9 7.2
2007 6.3 0.8 10.6 7.1
2008 6.3 0.7 11.0 6.9
2009 6.2 2.9 11.0 9.1
2010 6.7 3.9 11.6 10.6
2011 7.1 5.1 13.4 12.2
2012 6.1 6.3 14.1 12.4
2013 6.3 6.1 15.1 12.4
2014 7.8 4.0 15.7 11.8
2015 8.1 3.8 15.7 12.0
2016 10.2 0.0 15.6 10.1
2017 10.2 0.2 15.5 10.4
2018 10.2 3.5 16.2 13.7
2019 10.3 3.4 16.4 13.6
2020 10.3 3.5 16.8 13.8
2021 10.3 5.7 17.4 16.0
2022 17.5 0.0 18.1 17.5
2023 28.1 0.0 17.4 16.6

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Texas ERS, 2001-2023

Fiscal Year Texas ERS National Data
2001 104.9 101.7
2002 102.5 94.6
2003 97.6 88.8
2004 97.3 87.0
2005 94.8 85.4
2006 95.2 85.2
2007 95.6 86.3
2008 92.6 84.4
2009 89.8 78.4
2010 85.4 75.7
2011 84.5 74.3
2012 82.6 72.3
2013 79.6 71.8
2014 77.2 73.2
2015 76.3 73.2
2016 75.2 71.6
2017 70.1 72.0
2018 70.2 72.4
2019 70.5 72.5
2020 66.0 72.6
2021 68.0 75.8
2022 68.9 76.2
2023 70.8 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Texas ERS, 2023

Category Percent
Equities 32.2
Fixed Income 21.0
Private Equity 0.0
Real Estate 0.0
Cash 2.8
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 44.1

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Texas ERS, 2001-2023

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
2020 40.6 26.9 0.0 0.0 1.5 0.0 0.0 0.0 30.9
2021 40.5 20.9 0.0 0.0 1.9 0.0 0.0 0.0 36.8
2022 35.8 20.4 0.0 0.0 1.7 0.0 0.0 0.0 42.0
2023 32.2 21.0 0.0 0.0 2.8 0.0 0.0 0.0 44.1

Source: Public Plans Database

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Annual Return as of August 31 for Texas ERS, 2001-2023

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
2020 6.85 7.00
2021 25.51 7.00
2022 -1.55 7.00
2023 6.45 7.00

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
2001-2023

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
2020 -1,196.3 27,946.2
2021 -1,275.5 33,608.2
2022 -894.4 31,986.1
2023 1.2 34,049.7

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
Texas ERS
2001-2023

Fiscal Year Texas ERS National Average
2001 -1.9 -2.3
2002 -2.1 -1.0
2003 -2.5 -2.4
2004 -3.5 -2.6
2005 -3.3 -2.2
2006 -3.0 -2.2
2007 -2.9 -2.2
2008 -3.4 -2.9
2009 -3.9 -3.2
2010 -3.7 -3.2
2011 -3.7 -3.4
2012 -4.6 -3.3
2013 -4.6 -3.1
2014 -4.3 -2.9
2015 -4.6 -3.1
2016 -3.3 -3.2
2017 -3.5 -2.9
2018 -3.8 -3.1
2019 -4.2 -3.1
2020 -4.3 -2.8
2021 -3.8 -2.5
2022 -2.8 -2.9
2023 0.0 -3.2

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Texas ERS benefit descriptions.