TMRS administers retirement and other benefits to more than 800 municipalities in Texas that have elected to participate. TMRS is a non-traditional defined benefit plan, similar to a cash balance plan. Benefits are based on the sum of the employee's contributions, with interest, and monetary credits, with interest, financed by employers.
Texas Municipal Retirement System Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Texas Municipal |
39,486.3 |
252,395 |
| Other Plans |
0.0 |
0 |
| Total |
39,486.3 |
252,395 |
Source: Public Plans Database (as of 2023)
Note: Texas Municipal Retirement System has 0 other plans.
Assets
Assets at Year-End
Texas Municipal Retirement System
2001-2023
| 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 |
| 2019 |
31.8 |
| 2020 |
34.3 |
| 2021 |
38.6 |
| 2022 |
35.6 |
| 2023 |
39.5 |
Membership
Ratio of Actives to Beneficiaries, 2001-2023
| Fiscal Year |
Texas Municipal Retirement System |
US State and Local Pensions |
| 2001 |
4.1 |
2.4 |
| 2002 |
3.9 |
2.3 |
| 2003 |
3.6 |
2.2 |
| 2004 |
3.4 |
2.1 |
| 2005 |
3.1 |
2.1 |
| 2006 |
3.0 |
2.0 |
| 2007 |
2.9 |
2.0 |
| 2008 |
2.7 |
1.9 |
| 2009 |
2.6 |
1.9 |
| 2010 |
2.4 |
1.8 |
| 2011 |
2.3 |
1.7 |
| 2012 |
2.2 |
1.6 |
| 2013 |
2.1 |
1.5 |
| 2014 |
1.9 |
1.4 |
| 2015 |
1.9 |
1.4 |
| 2016 |
1.8 |
1.4 |
| 2017 |
1.8 |
1.4 |
| 2018 |
1.7 |
1.3 |
| 2019 |
1.6 |
1.3 |
| 2020 |
1.6 |
1.3 |
| 2021 |
1.5 |
1.2 |
| 2022 |
1.5 |
1.2 |
| 2023 |
1.5 |
1.2 |
2023 Membership for Texas Municipal Retirement System
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 124,493 |
84,155 |
43,747 |
252,395 |
860 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Texas Municipal Retirement System
2001-2023
| 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 |
| 2019 |
-149.3 |
31,813.8 |
| 2020 |
54.6 |
34,282.9 |
| 2021 |
-159.5 |
38,593.0 |
| 2022 |
-205.2 |
35,600.5 |
| 2023 |
-233.4 |
39,486.3 |
2023 Cash Flows for Texas Municipal Retirement System (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 1,768.3 |
2,001.7 |
4,119.2 |
3,885.9 |
Cash Flow as a Percentage of Assets
Texas Municipal Retirement System
2001-2023
| Fiscal Year |
Texas Municipal Retirement System |
National Average |
| 2001 |
1.2 |
-2.1 |
| 2002 |
1.1 |
-2.0 |
| 2003 |
0.9 |
-2.5 |
| 2004 |
0.9 |
-2.0 |
| 2005 |
0.9 |
-2.2 |
| 2006 |
0.8 |
-2.2 |
| 2007 |
0.9 |
-2.1 |
| 2008 |
1.1 |
-2.3 |
| 2009 |
1.3 |
-3.1 |
| 2010 |
1.1 |
-3.2 |
| 2011 |
0.8 |
-3.1 |
| 2012 |
0.3 |
-3.3 |
| 2013 |
0.0 |
-3.1 |
| 2014 |
-0.1 |
-2.9 |
| 2015 |
-0.2 |
-2.8 |
| 2016 |
-0.3 |
-3.0 |
| 2017 |
-0.3 |
-2.9 |
| 2018 |
-0.4 |
-2.6 |
| 2019 |
-0.5 |
-2.6 |
| 2020 |
0.2 |
-2.4 |
| 2021 |
-0.4 |
-2.1 |
| 2022 |
-0.6 |
-2.1 |
| 2023 |
-0.6 |
-2.1 |
