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Scurry County reviews retirement-plan changes that could raise employer costs and add retiree COLA
Summary
Commissioners reviewed proposals to raise employer matching to 190%, add a 1'2% cost-of-living adjustment for retirees, and permit a partial lump-sum at retirement; staff provided actuarial scenarios and the court asked for further scenario modeling before taking action.
County staff presented proposed revisions to the county's TCDRS (Texas County & District Retirement System) plan, including increased employer matching, a potential 1'2% annual cost-of-living adjustment (COLA) for retirees, and a new partial lump-sum payout option at retirement.
A staff presenter (speaker 4) outlined the changes and their estimated actuarial impacts: employer matching moving from the current 175% to 190% for both past and future service; a 2% COLA option that would increase the required contribution rate; and an added partial lump-sum payout available only at the point of retirement. "Our accrued liability is 73,000,000. Actual actuarial value of assets is 70,000,000," the presenter said while reading the plan options. Staff supplied several budget scenarios showing the county's required contribution rising under the higher-match/COLA options and asked the court which options it wanted modeled further.
Commissioners discussed the trade-offs: some favored a 2% COLA to restore retirees' lost purchasing power (the record notes the last COLA was in 2009), while others warned of the near-term budget pressure (staff estimated the difference could be roughly $200,000'$230,000 annually under some options). Commissioners also asked staff to run scenarios for alternative changes such as lowering the "rule of 80" vesting threshold to 75, and for 20- and 30-year service options, and to provide clear budget numbers for the 2027 proposed budget cycle.
No plan changes were approved at the meeting; commissioners directed staff to prepare comparative spreadsheets and return with precise fiscal impacts to inform a future decision.
The court noted timing constraints: staff must finalize numbers in time for the 2027 budget and the county's public-hearing schedule, and asked that the analysis be circulated to commissioners ahead of the next meeting.
