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2017 Economic Impact Study

2017 Comprehensive Annual Financial Report

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NEWS




05-10-19

Three Trustees Appointed to the TCDRS Board

Gov. Greg Abbott has appointed Susan Fletcher and Kara Sands, and reappointed Mary Louise Nicholson, to serve on the nine-member TCDRS Board of Trustees for terms set to expire on Dec. 31, 2023. ...

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04-17-19

TCDRS Board Updates Capital Market Assumptions

The TCDRS Board of Trustees has reviewed and updated our capital market assumptions for 2019. The revised assumptions are available online. Capital market assumptions help us build a diversified portfolio. They are forward-loo...

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04-17-19

Asset Allocation Targets Adjusted 2019

  TCDRS trustees and investment staff carefully construct our portfolio to achieve our long-term investment goal of 8% within an acceptable level of risk. Based on the capital market assumptions adopted at their April mee...

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03-28-19

The 2019 TCDRS State of the System Presentation is Here

    TCDRS’ 11th annual State of the System presentation is now available online . This on-demand presentation will give you important information about TCDRS, including our estimated 2018 investment return and how w...

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02-13-19

Estimated portfolio and asset class returns as of Dec. 31, 2018

TCDRS’ estimated investment return for 2018 is between -2.75% and -3.25%, net of all fees. The estimated returns for individual asset classes (also net of all fees) are:       *Note: Our es...

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02-01-19

Employers maintain benefit levels for 2019

For 2019, most TCDRS employers maintained their current benefit levels. Of those employers that made plan changes, 53 adopted benefit increases and 2 decreased benefits. In addition, 51 employers adopted cost-of-living adjustme...

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02-01-19

86th Texas Legislature underway

The 86th Texas State Legislature began on Jan. 8, 2019. We will track and monitor bills that could directly or potentially impact TCDRS and, ultimately, our employers’ plans. The Honorable Dennis Bonnen has been elected as Speak...

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10-01-18

Annual survey finds employers are highly satisfied with TCDRS

  Each year, we send our participating employers a survey to request feedback on their overall satisfaction with the system and their thoughts on TCDRS services and employer needs. The results are used by the TCDRS Board of...

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07-09-18

TCDRS Helps Power Texas

  TCDRS retirement benefits don’t just help Texans retire with confidence. They help power the Texas economy. Since TCDRS was created in 1967, we’ve grown into a multi-billion dollar trust. When TCDRS members retire f...

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06-22-18

2017 CAFR now available

  In the aftermath of Hurricane Harvey, TCDRS members and employers were on the front lines providing vital services even as they themselves were affected by the storm. Our Comprehensive Annual Financial Report (CAFR), wh...

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05-11-18

TCDRS Address Change

  We are now receiving all mailed correspondence at our physical address: The post office is only forwarding mail from our old P.O. Box for a limited time. Be sure to note this change in your organization’s add...

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04-19-18

Board Updates Capital Market Assumptions

The TCDRS Board of Trustees reviewed and updated our capital market assumptions for 2018. The updated assumptions are available online . Capital market assumptions help us build a diversified portfolio. They are forward-looking...

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04-19-18

Asset Allocation Targets Adjusted

  Based on the capital market assumptions adopted at their April meeting, the TCDRS Board of Trustees has adjusted TCDRS’ asset allocation targets . The board also condensed the High-Yield Investment portfolio and it’s now...

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02-23-18

Estimated Portfolio and Asset Class Returns as of Dec. 31, 2017

TCDRS’ estimated investment return for 2017 is between 14.25% and 14.75%, net of all fees. The estimated returns for individual asset classes (also net of all fees) are:   *Note: Our estimated results include ...

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02-23-18

TCDRS' Unique Portfolio Benefits You

  TCDRS has an independent streak when it comes to plan design, but you can also see that independence in our investments. Our investment portfolio looks different than other public plans because of our investment c...

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02-23-18

S&P Global: TCDRS Well-Funded and Affordable for Texas Counties

Earlier this month, S&P Global published a study of Texas public retirement systems that explores whether local governments can afford their pension obligations. On page 5, the piece profiles TCDRS, touting our high and “...

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02-01-18

Employers Maintain Benefit Levels For 2018

For 2018, most employers maintained their current benefit levels. Of those employers that made plan changes, 42 adopted benefit increases and 3 decreased benefits. In addition, 44 employers adopted cost-of-living adjustments (CO...

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12-13-17

TCDRS Completes Experience Study

At the TCDRS Board of Trustees’  December meeting, our consulting actuaries presented the results of the experience study and recommended changes to the actuarial assumptions.   Every four years our independent actuari...

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12-07-17

TCDRS Chief Investment Officer Paul Williams Announces Retirement

The TCDRS Board of Trustees has announced the selection of Casey Wolf as the new Chief Investment Officer. Wolf succeeds Paul Williams, who recently announced his retirement after 22 years with TCDRS. Williams’ retirement is schedu...

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08-29-17

TCDRS Completes Investment Video Series

Our asset allocation is designed to achieve our long-term 8% return goal with an acceptable level of risk. Each asset class we invest in plays an important role in our portfolio. A new video series describes the big picture behind...

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06-27-17

2016 TCDRS Annual Report: Strength in Numbers

For 50 years, Texas has meant one thing for all of us at TCDRS  —  and for the generations of Texans we have served — home. In 1967, counties and districts across Texas needed a secure retirement system that met their ...

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06-27-17

Pensions and the 85th Legislative Session

The regular session of the 85th Texas Legislature ended on May 29. Two bills with TCDRS impact were passed by the Legislature this year. SB 500 , sponsored by Sen. Van Taylor , was passed by the Legislature on May 22, and sign...

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05-10-17

TCDRS’ Investment Results for 2016

Our final investment return for 2016 was 7.5%. The final value came in at the high end of our earlier estimate due to the strong fourth quarter performance of our private asset classes, particularly Private Equity and Distressed De...

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05-05-17

TCDRS: It Started with Thunder

  On March 29, 1967, thunder rolled through the Texas Capitol. That’s the day the Texas House of Representatives met inside the house chamber to discuss House Bill 85, the bill that would go on to establish the Texas Count...

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03-20-17

What is fiduciary responsibility?

The independent, nine-member TCDRS Board of Trustees is comprised of system members and retirees appointed by the governor and confirmed by the Texas Senate. Throughout TCDRS’ history, our board members have all had experience in c...

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02-23-17

Estimated Portfolio and Asset Class Returns as of Dec. 31, 2016

TCDRS’ estimated investment return for 2016 is 7.2%, net of all fees. The estimated returns for individual asset classes (also net of all fees) are:    Asset class ...

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02-23-17

You Inspire Us

  Dear TCDRS members and retirees,  From all of us at the Texas County & District Retirement System: You inspire us .  You serve Texas  When you work, you protect our homes and forests, sa...

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02-07-17

Employers Maintain Benefit Levels for 2017

For 2017, most employers maintained their current benefit levels. Of those employers that made plan changes, 32 adopted benefit increases and 5 decreased benefits. In addition, 35 employers adopted cost-of-living adjustme...

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01-09-17

Happy Birthday, TCDRS!

A lot of good things started in 1967 : the first Super Bowl kicked off in Los Angeles, Aretha Franklin released the song “Respect” and the bill that created the Texas County & District Retirement System was signed into law....

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12-28-16

TCDRS Welcomes New Board Members

The Texas County & District Retirement System is pleased to announce additions to its board of trustees, which oversees the system that serves more than 270,000 TCDRS members and retirees. The Office of the Governor anno...

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10-28-16

In memoriam: Jan Kennady, TCDRS Board Member

  It is with great sadness that we announce the death of Jan Kennady on July 31, 2016, after a long battle with cancer. Our thoughts and prayers are with her family at this time.  Jan had served on the TCDRS Boa...

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10-27-16

Top 3 Benefits of TCDRS Membership

      1. Compound interest Each time you get paid, a percentage of your money (set by your employer) is deposited into your TCDRS account. Those deposits earn 7% compound interest every year. Compound in...

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10-21-15

What is an Actuary?

An actuary’s job is to estimate the amount of money you need to save for your county’s or district’s retirement benefits. For your TCDRS plan, this is done through an annual actuarial valuation. Each year, actuaries look at your pl...

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10-15-15

Check out the View: New Investment Section at TCDRS.org

The new TCDRS website offers enhanced features within the investment section of the site. These features help visitors connect the dots between assets, strategy and results.  Get an in-depth look at the strategy & ...

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10-15-15

TCDRS Compliant With Same-sex Marriage Decision

At the Texas County & District Retirement System, members can designate their legal spouse as their beneficiary regardless of gender.  This means our systems, website and processes are in compliance with the IRS ruling on r...

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10-14-15

Amy Bishop named TCDRS director

The Texas County & District Retirement System (TCDRS) Board of Trustees has selected Amy Bishop as the new TCDRS director, effective Jan. 17. Bishop replaces Gene Glass, who retired after 18 years of TCDRS service. “I’m delig...

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