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TCDRS representative tells Scurry County its plan is well‑funded; offers options on rates and COLAs
Summary
A Texas County & District Retirement System employer‑services representative briefed Scurry County on plan funding and options, reporting the county’s funded ratio near 94.4%, a current employer rate of 10.42% and a projected required rate of 10.18% next year; she urged commissioners to consider elective rates and explained options for cost‑of‑living adjustments.
A representative from the Texas County & District Retirement System (TCDRS) told Scurry County Commissioners that the system and the county’s plan are in generally strong condition and outlined options county officials have for contribution rates and retiree cost‑of‑living adjustments.
The presenter, who identified herself as the county’s TCDRS employer‑services representative, said the statewide TCDRS system is well funded and that the Scurry County plan’s funded ratio is around 94.4%. She said the county paid 10.42% of payroll this calendar year and that the required rate is projected at 10.18% for the coming year, describing elective rates as a voluntary tool counties can use to build additional reserves.
She described three eligibility rules for retirement (five years of service and age 60; the rule of 80; or 30 years of service), noted that plan‑change requests are due by December 15 each year, and explained two approaches to cost‑of‑living adjustments: a flat percentage boost or a CPI‑based adjustment. The presenter offered to provide the court with sample calculations and a plan calculator to model the budgetary effects of changes.
What it means for the county: The representative framed elective rates and pre‑funding as options counties use to smooth future costs — for example, electing to keep a higher employer contribution in years when rates decline in order to build a cushion for potential benefit increases. She also said TCDRS does not receive state subsidies but is funded by employer and employee contributions and investment returns.
The court did not take any immediate action on plan changes; staff and the presenter agreed to follow up with detailed fee and impact estimates if the court requests them.
