The following documents can be found at TMRS.com or by clicking the links below:
- Actuarial valuations for the past 5 years
- Annual Reports for the past 5 years
- Statements of fiduciary net position
Texas Municipal Retirement System Guiding Principles
The overall objective of Texas Municipal Retirement System (TMRS) Investment program is to ensure that members, retirees, and beneficiaries are provided the benefits they have been promised by their employers at a reasonable and predictable cost to the employers. Assets will be invested with a total return posture, given appropriate consideration for portfolio volatility (risk) and liquidity. Total return includes dividends, interest, and realized and unrealized capital appreciation.
TMRS General Objectives
Investments are made with the degree of judgment and care, under the circumstances, that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, considering the probable income from the securities and probable safety of their capital and in consideration of the purposes, terms, distribution requirements, and other circumstances of the trust. Investment and management decisions respecting individual assets will be evaluated not in isolation but in the context of the investment portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the trust.
| Asset Class | Policy Benchmarks | Asset Class Goal | Policy Index |
| Global Equities | MSCI ACWI IMI, net | Benchmark | 35% |
| Core Fixed Income | Bloomberg Barclays US Aggregate Bond Index | Benchmark | 10% |
| Non-Core Fixed Income | Rollup of Underlying Manager Benchmarks | 50% Bank of America Merrill Lynch US High Yield Constrained Index; 50% Credit Suisse Levered Loan Index | 20% |
| Real Estate | NCREIF - ODCE Index | CPI + 5% | 10% |
| Real Return | Rollup of Underlying Manager Benchmarks | CPI +4% | 10% |
| Absolute Return | HFRI Fund of Funds: Diversified Index | Cash (3-month Libor ) plus 4% | 10% |
| Private Equity | Rollup of Underlying Manager Benchmarks | Russell 3000 + 3% | 5% |
| Cash Equivalents | 30 Day T-Bill | Benchmark | 0% |
| N/A | TMRS Policy Index | N/A | 100% |
Source: TMRS
Rates
- One-year rate: 14.96
- Three-year rate: 8.75
- Ten-year rate: 7.07
- Assumed Rate: 6.75%
Contributions
| Fiscal Year | Actuarially Determined Contribution Rate | Actual Total Contribution Rate |
| 2016 | 16.06% | 16.06% |
| 2017 | 16.00% | 16.00% |
| 2018 | 16.14% | 16.14% |
| 2019 | 16.16% | 16.16% |
| 2020 | 15.92% | 15.92% |