Polk County reviews lowering employer retirement match after TCDRS presentation

Richard Ashcraft, account manager with the Texas County and District Retirement System, presented Polk County with an actuarial study showing how lowering the employer match from the current 250% to a proposed 200% would affect employee retirement outcomes and the county’s required contribution rate. Ashcraft told the court that changes to the match can only be made future-forward and cannot be applied retroactively: “If the match was lowered … the part of that account prior to any changes would be matched at that current 250. Any change moving forward would affect that balance.”

The presentation included projected contribution-rate and dollar impacts for the county. Staff said the county’s current elected contribution rate is 14.54%, producing a $2,712,102.13 contribution; lowering the match to 200% would reduce required rates and could lower the county’s required contribution to an example figure presented (staff noted a required-rate example of 10.13% under one scenario). Ashcraft emphasized notice deadlines and implementation timing: county leaders must notify TCDRS by Dec. 15 for changes to take effect Jan. 1 of the following year.

Commissioners discussed the prospective nature of any change and its likely greater impact on younger employees with more years to accumulate benefits. Court members asked procedural questions about grandfathering and implementation; staff confirmed that benefits already earned would remain at the levels contributed and vested under prior terms. No formal decision to change the match was taken at the meeting; staff asked commissioners to review the packet and the actuarial study before any later action.

The court will consider the issue as part of FY 2027 budget planning and actuarial review; any formal change would require the county to meet TCDRS deadlines and to document the effective date and public notice.