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Treasurer reviews TCDRS funded ratio; offers scenarios for retirement benefit changes
Summary
Tom Green County treasurer briefed the court on TCDRS-funded status and noted the county's historic move from a 150% to 175% match and a $500,000 buy-down; staff offered to run scenarios to show rate impacts of benefit changes.
Treasurer provided a high-level review of the county's retirement plan administered through TCDRS, saying the funded ratio and employer rate are trending downward while the county retains an unfunded liability component. She noted historic changes: the county previously reduced matching from 200% to 150% decades ago, then later increased the match to 175% to help retain employees.
"So we're we're looking good as far as our — that's 100% funded, but we don't have their money," the treasurer said while describing the actuarial valuation process and the effect of a one-time $500,000 contribution the court previously made to lower the rate. She told commissioners she can run various scenarios showing how changes in benefits (for example, a COLA or match change) would affect employer rates and asked that members submit scenario requests before final budget decisions.
Commissioners said they preferred seeing scenario spreadsheets to guide late-stage budget decisions; staff agreed to run and circulate those numbers when requested.
