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TMRS actuary explains new 2026 funding policy and cost pathways for Weslaco
Summary
Kenneth Oliver of the Texas Municipal Retirement System told Weslaco commissioners the agency’s 2026 funding-policy changes aim to curb repetitive ad hoc benefit adoptions and shift cities toward prefunding; city staff will return with recommendations in fourth quarter 2026.
Kenneth Oliver, an actuary with the Texas Municipal Retirement System (TMRS), told the Weslaco City Commission on April 15 that TMRS’s new 2026 funding policy aims to curb frequent ad hoc benefit adoptions and encourage cities to prefund updated service credits and cost-of-living adjustments.
“A funding policy is the recipe for how we calculate your contribution rates,” Oliver said as he outlined the policy’s three goals: achieve long-term full funding (a 100% funded ratio), promote intergenerational equity and reduce volatility in contribution rates.
Oliver explained two adoption approaches for optional TMRS benefits—ad hoc (retrospective, one-time) and repeating (prospective, prefunded). He said ad hoc financing tends to lower short-term costs but is “roughly analogous to an interest-only mortgage,” meaning…
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