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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, 2020

Actuarial Accrued Liability (AAL) $1,587,931
Actuarial Value of Assets (AVA) $1,556,353
Unfunded Actuarial Accrued Liability $96,260
Funded Ratio (AVA / AAL) 94.2%
Equivalent Single Amortization Period 23.3 Years
Assumed Rate of Return 6.75%
Valuation Payroll $925,448
UAAL as a percentage of covered payroll 10.4%
Active Members 22
Inactive Members 18
Retirees and Beneficiaries 14
2020 TMRS Investement Results
2020 Asset Allocations
Troup pensions-assets-liabilities 2016 through 2020
pensions-contribution-rates 2018-2022

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Comprehensive Annual Financial Reports (CAFR)

2019
2018
2017
2016
2015
2014
2013
2012

Actuarial Valuations

2020
2019
2018
2017
2016
2015
2014
2013
2012