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Mills County hears TCDRS briefing: plan about 90.9% funded, officials to revisit at budget
Summary
A TCDRS representative told Mills County commissioners their retirement plan is approximately 90.9% funded; employees contribute 7% of pay and the county currently prefunds benefits at an elevated rate. Commissioners said they will review contributions again during budget season.
Richard Ashcraft, a representative for the Texas County & District Retirement System (TCDRS), told the Mills County Commissioners Court on Jan. 12 that the county’s retirement plan is in strong financial position.
"Right now, your plan is about 90.9 percent fully funded," Ashcraft said, noting that employees contribute 7% of pay and the county currently uses a 200% prefunding/design that matches…
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