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City of Troup Pension

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The City of Troup is a member of Texas Municipal Retirement System (TMRS) a statewide, multiple employer agent plan. In an agent plan, each participating government’s pension is centrally administered and governed by state statutes but the assets and related pension liabilities for each government are accounted for separately and any unfunded liabilities are solely the obligation of that government. The City of Troup has chosen from a menu of plan options as authorized by TMRS statute. The City of Troup plan provides the following benefit level:

Employee Deposit Rate 5.0%
City Match 1.5 to 1
Vested Requirement 5 years
Service Requirement Eligibility Vested and age 60 or 25 years and any age
Updated Service Crecit Last Adopted 2011 - Auto Readoption - 100% Transfers
Cost of Living Adjustment (COLA) for Retirees Last Adopted 2011 - Auto Readoption - 70%
Military Service Credit Not Elected
Restricted Prior Service Credit Not Elected
Buyback Last Adopted Not Elected
Supplemental Death Benefit for Employees Yes
Supplemental Death Benefit for Retirees Yes
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Upon retirement the employee account balance, including interest, is combined with the employer match to provide a lifetime annuity based on the employee's age at retirement.

City of Troup Actuarial Information as of December 31, 2018

Actuarial Accrued Liability (AAL) $1,425,469
Actuarial Value of Assets (AVA) $1,323,152
Unfunded Actuarial Accrued Liability $102,417
Funded Ratio (AVA / AAL) 92.8%
Equivalent Single Amortization Period 25.8 Years
Assumed Rate of Return 6.75%
Valuation Payroll $901,896
UAAL as a percentage of covered payroll 12.0%
Active Members 23
Inactive Members 16
Retirees and Beneficiaries 12
2018 Investment Returns TMRS
Asset Allocation TMRS
Troup pensions-assets-liabilities 2014 through 2018
pensions-contribution-rates 2015-2019

Click the above images to go to our Financial Transparency or Debt Transparency

Comprehensive Annual Financial Reports (CAFR)

2018
2017
2016
2015
2014
2013
2012

Actuarial Valuations

2018
2017
2016
2015
2014
2013
2012