Texas Municipal Basics

  • Established 1947
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, agent plan

Assets, Participants, and Benefits

Assets at Year-End, Texas Municipal, 2001-2018

Fiscal Year Net Assets (billions)
2001 8.6
2002 10.2
2003 10.6
2004 11.9
2005 13.3
2006 13.5
2007 14.7
2008 14.6
2009 16.3
2010 18.0
2011 18.6
2012 20.5
2013 22.5
2014 23.7
2015 23.7
2016 25.2
2017 28.6
2018 27.7

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Texas Municipal US State and Local Pensions
2001 4.1 2.5
2002 3.9 2.4
2003 3.6 2.4
2004 3.4 2.3
2005 3.1 2.2
2006 3.0 2.1
2007 2.9 2.1
2008 2.7 2.1
2009 2.6 2.0
2010 2.4 1.9
2011 2.3 1.8
2012 2.2 1.7
2013 2.1 1.6
2014 1.9 1.5
2015 1.9 1.5
2016 1.8 1.4
2017 1.8 1.3
2018 1.7 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 Municipal, 2001-2018

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 10.6 0.0 5.0 10.6 10.6
2002 10.8 0.0 4.8 10.8 10.8
2003 10.8 0.0 5.7 10.8 10.8
2004 11.2 0.0 7.3 11.2 11.2
2005 12.0 0.0 9.0 12.0 12.0
2006 11.9 0.0 9.3 11.9 11.9
2007 12.2 0.0 10.0 12.2 12.2
2008 12.5 0.0 10.4 12.5 12.5
2009 13.5 2.4 10.2 15.9 15.9
2010 14.2 1.9 10.5 16.1 16.1
2011 14.5 1.2 12.5 15.8 15.8
2012 13.4 0.0 12.9 13.2 13.2
2013 13.3 0.0 13.9 13.3 13.3
2014 13.4 0.0 14.5 13.4 13.4
2015 13.2 0.0 14.9 13.2 13.2
2016 12.5 0.0 14.8 12.5 12.5
2017 13.1 0.0 15.1 13.1 13.1
2018 13.2 0.0 18.1 13.2 13.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Texas Municipal, 2001-2018

Fiscal Year Texas Municipal National Data
2001 85.0 106.5
2002 84.2 101.1
2003 82.6 94.2
2004 82.8 93.1
2005 82.7 91.1
2006 82.1 90.5
2007 73.7 91.2
2008 74.4 90.2
2009 75.8 83.2
2010 82.9 81.5
2011 85.1 80.4
2012 87.2 78.9
2013 84.1 78.7
2014 85.8 79.0
2015 85.8 78.2
2016 86.3 76.3
2017 87.4 76.4
2018 87.1 76.5

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 Municipal, 2018

Category Percent
Equities 33.5
Fixed Income 34.0
Private Equity 2.1
Real Estate 9.6
Cash 1.3
Other 0.0
Commodities 10.4
Hedge Fund 9.1
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.1
Fixed Income 22.5
Private Equity 8.9
Real Estate 8.4
Cash 1.8
Other 0.2
Commodities 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Texas Municipal, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 0.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 0.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 0.0 97.5 0.0 0.0 2.5 0.0 0.0 0.0 0.0
2004 0.0 93.4 0.0 0.0 6.6 0.0 0.0 0.0 0.0
2005 0.0 97.4 0.0 0.0 2.6 0.0 0.0 0.0 0.0
2006 0.0 96.7 0.0 0.0 3.3 0.0 0.0 0.0 0.0
2007 0.0 95.7 0.0 0.0 4.3 0.0 0.0 0.0 0.0
2008 12.1 87.0 0.0 0.0 0.9 0.0 0.0 0.0 0.0
2009 23.5 65.9 0.0 0.0 10.6 0.0 0.0 0.0 0.0
2010 33.1 61.8 0.0 0.0 5.1 0.0 0.0 0.0 0.0
2011 40.5 52.8 0.0 0.5 1.4 0.0 4.8 0.0 0.0
2012 42.2 49.2 0.0 1.9 1.9 0.0 4.8 0.0 0.0
2013 45.5 39.3 0.0 3.2 8.0 0.0 4.0 0.0 0.0
2014 44.3 36.1 0.0 5.0 5.8 0.0 4.7 4.1 0.0
2015 43.4 40.0 0.2 6.0 0.2 0.0 3.8 6.5 0.0
2016 42.0 29.4 0.5 8.5 0.1 0.0 8.8 10.7 0.0
2017 38.1 33.1 1.0 8.2 0.1 0.0 10.1 9.4 0.0
2018 33.5 34.0 2.1 9.6 1.3 0.0 10.4 9.1 0.0

Source: Public Plans Database


Annual Return as of December 31 for Texas Municipal, 2001-2018

Fiscal Year Texas Municipal Assumed return
2001 8.50 8.00
2002 17.30 8.00
2003 1.70 7.00
2004 12.80 7.00
2005 10.60 7.00
2006 0.80 7.00
2007 7.80 7.00
2008 -1.30 7.00
2009 10.20 7.00
2010 9.00 7.00
2011 2.40 7.00
2012 10.10 7.00
2013 9.86 7.00
2014 5.99 7.00
2015 0.34 6.75
2016 7.42 6.75
2017 14.27 6.75
2018 -2.11 6.75

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Texas Municipal
2001-2018

Fiscal Year Cash Flow Assets
2001 102.9 8,635.3
2002 111.1 10,204.9
2003 98.0 10,557.5
2004 105.2 11,934.6
2005 114.7 13,266.4
2006 113.0 13,508.8
2007 128.6 14,715.9
2008 155.1 14,610.0
2009 212.4 16,305.7
2010 190.5 17,992.5
2011 144.0 18,571.3
2012 56.0 20,490.6
2013 3.1 22,468.6
2014 -26.5 23,727.5
2015 -54.3 23,708.2
2016 -77.2 25,233.2
2017 -81.0 28,649.4
2018 -107.6 27,683.6

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Texas Municipal
2001-2018

Fiscal Year Texas Municipal National Average
2001 1.2 -2.0
2002 1.1 -2.7
2003 0.9 -2.2
2004 0.9 -1.6
2005 0.9 -2.0
2006 0.8 -1.9
2007 0.9 -2.0
2008 1.1 -3.0
2009 1.3 -2.6
2010 1.1 -2.4
2011 0.8 -2.7
2012 0.3 -2.6
2013 0.0 -2.3
2014 -0.1 -2.3
2015 -0.2 -2.7
2016 -0.3 -2.2
2017 -0.3 -2.7
2018 -0.4 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Texas Municipal benefit descriptions.