Texas LECOS Basics

  • Established 1979
  • Currently open to new hires
  • Plan covers police and/or fire
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

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

Fiscal Year Net Assets (billions)
2001 0.6
2002 0.6
2003 0.6
2004 0.6
2005 0.7
2006 0.7
2007 0.8
2008 0.7
2009 0.6
2010 0.7
2011 0.7
2012 0.7
2013 0.8
2014 0.9
2015 0.8
2016 0.9
2017 0.9
2018 1.0
2019 0.9

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Texas LECOS US State and Local Pensions
2001 13.7 1.9
2002 11.7 1.8
2003 9.7 1.7
2004 8.4 1.6
2005 7.3 1.6
2006 7.0 1.5
2007 6.3 1.5
2008 5.4 1.5
2009 5.7 1.5
2010 5.4 1.4
2011 4.8 1.3
2012 4.4 1.3
2013 4.1 1.2
2014 3.7 1.2
2015 3.6 1.2
2016 3.4 1.2
2017 3.1 1.3
2018 2.8 1.3
2019 2.6 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Texas LECOS, 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 {role:annotation}
2001 0.0 0.0 12.1 0.0 0.0
2002 0.0 0.0 12.8 0.0 0.0
2003 0.0 0.0 14.8 0.0 0.0
2004 0.0 0.0 16.9 0.0 0.0
2005 0.0 0.0 21.2 0.0 0.0
2006 0.0 0.0 23.7 0.0 0.0
2007 0.0 0.5 25.5 0.5 0.5
2008 1.6 0.0 28.0 1.6 1.6
2009 1.4 0.9 29.1 2.3 2.3
2010 1.8 0.4 29.3 2.2 2.2
2011 1.6 0.8 31.2 2.5 2.5
2012 0.0 2.3 33.6 2.3 2.3
2013 0.4 1.8 34.7 2.2 2.2
2014 1.7 0.8 33.8 2.5 2.5
2015 1.5 0.7 33.7 2.2 2.2
2016 1.6 0.9 34.0 2.5 2.5
2017 1.5 1.1 33.3 2.6 2.6
2018 1.6 1.6 35.6 3.2 3.2
2019 1.6 1.8 37.1 3.3 3.3

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Texas LECOS, 2001-2019

Fiscal Year Texas LECOS National Data
2001 131.6 107.1
2002 124.7 101.2
2003 111.5 91.9
2004 109.3 86.3
2005 103.1 83.2
2006 101.7 80.8
2007 98.0 80.2
2008 92.0 79.6
2009 89.7 77.6
2010 86.3 73.2
2011 86.4 72.2
2012 82.0 71.9
2013 73.3 72.7
2014 73.2 72.2
2015 72.0 72.4
2016 71.1 72.2
2017 66.0 74.0
2018 65.6 74.7
2019 65.3 74.7

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.

Investments

Asset Allocation for Texas LECOS, 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

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Texas LECOS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 null null null null null null null null null
2002 null null null null null null null null null
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


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

Fiscal Year Texas LECOS 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 7.50
2018 9.58 7.50
2019 3.04 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

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

Fiscal Year Cash Flow Assets
2001 -17.4 633.7
2002 -21.4 567.9
2003 -23.5 594.1
2004 -28.2 633.8
2005 -29.6 682.7
2006 -30.6 709.8
2007 -32.7 762.9
2008 -15.1 704.9
2009 -18.4 634.8
2010 -6.5 668.4
2011 -12.8 737.4
2012 -41.7 747.7
2013 -38.9 780.7
2014 -22.5 869.9
2015 -27.7 844.1
2016 -28.9 860.0
2017 -35.4 924.0
2018 -42.1 966.8
2019 -49.5 943.6

Source: Public Plans Database


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

Fiscal Year Texas LECOS National Average
2001 -2.8 -3.2
2002 -3.8 -3.0
2003 -4.0 -4.2
2004 -4.4 -3.1
2005 -4.3 -2.4
2006 -4.3 -1.8
2007 -4.3 -1.2
2008 -2.1 -0.8
2009 -2.9 -0.8
2010 -1.0 -1.1
2011 -1.7 -2.4
2012 -5.6 -1.1
2013 -5.0 -1.1
2014 -2.6 -3.3
2015 -3.3 -1.9
2016 -3.4 -1.7
2017 -3.8 -3.1
2018 -4.4 -2.4
2019 -5.2 -2.3

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Texas LECOS benefit descriptions.