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TCDRS update: Wichita County plan 90.4% funded; court to review elected rate later this year
Summary
Erica Aguilar Vasquez of the Texas County & District Retirement System told the Wichita County Commissioners Court the county's plan is more than 90% funded after recent investment gains and discussed employer choices over elected rates and benefit options.
Erica Aguilar Vasquez, a TCDRS representative, delivered an annual update to the Wichita County Commissioners Court on Aug. 8 and reported the county’s retirement plan funding and benefit options.
“TC DRS is 90% funded as a system. But if I include our reserves, we’re 97% funded with our reserves,” Aguilar Vasquez said, citing the statewide plan’s assets and reserve position. She told the court TCDRS manages about $51 billion in assets and that the system aims for a long-term investment return target of 7.5%.
Aguilar Vasquez reviewed plan mechanics specific to Wichita County: members contribute 7% of pay into individually tracked accounts…
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