Texas Municipal Retirement System
Overview
Texas Municipal Retirement System (TMRS) is a statewide retirement system that provides retirement, disability, and death benefits for employees of participating Texas municipalities. Established in 1947, TMRS operates under the Texas Municipal Retirement System Act, offering a hybrid cash-balance defined benefit plan. Each participating city designs its own plan within the framework provided by TMRS, ensuring flexibility to meet local needs. The system is funded through mandatory employee contributions, city contributions, and investment income, with investment income accounting for approximately 70% of an employee’s retirement benefit. TMRS is governed by a six-member Board of Trustees, appointed by the Governor with the advice and consent of the Texas Senate. Board members serve staggered six-year terms and oversee the administration of TMRS, exercising fiduciary responsibility for investments. The system's investment strategy aims to achieve a total rate of return consistent with the assumed long-term rate of return on TMRS assets, currently set at 6.75%. As of December 31, 2024, TMRS administered assets totaling $43.2 billion, reflecting its significant role in managing retirement funds for municipal employees across Texas. The system's investment portfolio is diversified across various asset classes, including fixed income, equities, real estate, private equity, infrastructure, commodities, hedge funds, and venture capital. This diversification strategy is designed to meet the long-term total return objectives and ensure the financial security of its members. TMRS's commitment to prudent investment management and its conservative funding approach contribute to its strong financial position, with a funded status of 89.4% as of December 31, 2024. This robust financial health underscores TMRS's dedication to providing reliable retirement benefits to municipal employees throughout Texas.
Investment Focus
- Participating Texas municipalities
- Employees working at least 1,000 hours per year
Portfolio Companies
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Frequently asked questions about Texas Municipal Retirement System
What sectors does Texas Municipal Retirement System invest in?
Texas Municipal Retirement System invests in Financial Services, Technology, Healthcare, Energy, Consumer Goods and Industrials, and is based in Austin, Texas, United States. Texas Municipal Retirement System is listed as a pension fund in the ConnectSafely investor database.
What stage does Texas Municipal Retirement System invest at?
Texas Municipal Retirement System backs companies at Growth, Late Stage, Buyout and Distressed, writing cheques of 1M - 50M.
Which regions does Texas Municipal Retirement System invest in?
Texas Municipal Retirement System invests across United States.
What companies has Texas Municipal Retirement System invested in?
Texas Municipal Retirement System's portfolio includes ExxonMobil, Occidental Petroleum, American Electric Power, Dell Technologies, AT&T, American Airlines, Texas Instruments and Kinder Morgan.
How do I contact Texas Municipal Retirement System?
Texas Municipal Retirement System's contact details — including phone and LinkedIn — are listed in the ConnectSafely investor database, along with its website and the LinkedIn profiles of the team.
Last updated · Source: ConnectSafely investor database
