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Travis County Public Pensions   Financial Reporting

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Public Pensions

Travis County is a member of the Texas County and District Retirement System (TCDRS). TCDRS serves over 780 employers and helps provide retirement benefits to more than 320,000 members and retirees. Each employer customizes the benefit plan for their employees and retirees.

The basic plan options include:
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Employee Contribution Rate 7%
Travis County Match 225%

A county employee is eligible for retirement if any of the following criteria are met:
small table outlining employee eligibility.
Vested at Age 60 8 years of full-time service
Rule of 75 Employee age + years of service = 75
At Any Age 30 years of service

Actuarial Information for Travis County

TCDRS provides an actuarial valuation of the County's retirement plan each year. The valuation provides a snapshot of the plan's financial condition and results are used to determine the County's required contribution rate. The most recent Actuarial Information follows:

Values as of: December 31, 2021

small table outlining current actuarial information.
Category Amount
Actuarial Value of Assets $2,055,062,790
Actuarial Liabilities $2,406,525,156
Unfunded Actuarial Accrued Liability $351,462,366
Funded Ratio 85.40%
Remaining Amortization Period 17.50
Assumed Rate Of Return 7.50%
Valuation Payroll $349,980,553
UAAL Percent Of Covered Payroll 100.42%

Investment Portfolio

Employers and employees save for benefits over the course of an employee's career. The funds are pooled and invested in a diversified portfolio that seeks to maximize returns within acceptable levels for risk. Portfolio asset allocation and historical returns (net of all fees) are below:

Values as of: December 31, 2021
*Calculations of performance were prepared using time-weighted rates of return calculations and are reported net of all fees.

Actuarially Determined Contribution Rate versus the Actual Total Contribution Rate

The County's contribution rate is actuarially determined each year and reflects the percentage of covered payroll needed to fund current and past earned benefits. Employers may adopt a higher rate to increase the funded ratio and provide a buffer against future adverse experience. Rates are calculated as of December 31, two years prior to the end of the year each rate was in effect (Plan Year).

Actuarial Value of Assets versus Actuarial Accrued Liabilities

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