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TCDRS representative: Mills County pension plan is well-funded; commissioners opt to keep current rates
Summary
A TCDRS account manager told Mills County commissioners the county’s retirement plan shows a 91.5% funded ratio and staff recommended no rate changes; the court voted unanimously to maintain the county’s 14% elected rate and existing contribution settings.
A TCDRS account manager who identified himself as Mr. Adcock briefed Mills County Commissioners Court on the county’s 2026 plan assessment and the court voted to leave the county’s TCDRS settings unchanged.
Mr. Adcock told commissioners the county’s funded ratio is 91.5% and that the plan’s required rate to prefund benefits is 9.49% of payroll; the county currently maintains an "elected rate" of 14%. "Our funded ratio is 91.5% which keeps going up," he said during his presentation.
He described the county’s current structure: employees contribute 7% of pay (the maximum in the choices discussed) and the retirement match at payout is 200% ("$2 from the county for each $1 at retirement," he said). Mr. Adcock also highlighted plan mechanics and eligibility rules, including the vesting and rule-of-75 provisions.
Commissioners asked about near-term retirements and the potential effect on the plan. Mr. Adcock responded that recent assumptions about near-term retirements changed favorably when some anticipated retirements did not occur, which helped the funding metrics.
After discussion, County Judge Mr. Shelton moved to leave the TCDRS retirement rates as they are; Commissioner Head seconded the motion and the court approved it unanimously.
What it means: keeping the 14% elected rate maintains current employer funding above the actuarially required level; staff said the approach has helped lower the county’s unfunded liabilities and projects stronger funding for 2027.
Follow-up: human-resources and finance staff will continue to monitor actuarial reports and return with any recommended adjustments at future meetings.
