Public Pensions

Benefits Summary

The City of Pharr’s pension plan is provided by the Texas Municipal Retirement System (TMRS), which is a statewide, multiple employer agent plan. TMRS is an agency created by the State of Texas and is administered in accordance with the TMRS Act, Subtitle G, Title 8 of the Texas Government Code. 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. Benefit options are adopted by the governing body of the city, within the options available in the state statutes governing TMRS. Pharr‘s plan provisions in effect as of April 1, 2023 were as follows:

**Rates of return, as reported by TMRS, are calculated using a time-weighted rate of return methodology based upon market values and are presented gross of investment management fees. More detailed information regarding investment objectives can be found at www.tmrs.com/investments.

Data Visualizations

Actuarial Valuations

Actuarial valuations are produced by TMRS on a calendar year basis and used to determine the amount that, when combined with investment ratings, should be consistently deposited into a retirement fund to ensure sufficient funds to pay promised benefits in full and over the long term. Because the City operates on a fiscal year ending 9/30, valuations for a given year are used in the following year’s City Annual Comprehensive Financial Report. For example, the 2021 valuation was produced during the City’s 2022 fiscal year and was used in preparing the City’s 2022 Annual Report. The 2021 valuation also sets the contribution rate for use in calendar year 2023 and shows the plan’s funding progress. Contribution rates are more easily seen in the Rate Letters provided to the City by TMRS each year.

TMRS Comprehensive Annual Financial Reports

The ACFR is the Texas Municipal Retirement System’s official annual financial statement and is prepared in accordance with Generally Accepted Accounting Principles. The Texas Municipal Retirement System’s ACFR contains comprehensive financial information including statements of fiduciary net position and changes in fiduciary net position.

2021 TMRS ACFR
2020 TMRS ACFR
2019 TMRS ACFR
2018 TMRS ACFR
2017 TMRS ACFR

The ACFR is produced by the Texas Municipal Retirement System and the most updated version can be found at www.tmrs.com/financial_reports.php.

Statements of TMRS Fiduciary Net Position/Changes in Fiduciary Net Pension

2022 TMRS Schedule of Changes in Fiduciary Net Position pgs 36-37
2021 TMRS Schedule of Changes in Fiduciary Net Position pgs 40-41
2020 TMRS Schedule of Changes in Fiduciary Net Position pgs 36-37
2019 TMRS Schedule of Changes in Fiduciary Net Position pgs 36-37
2018 TMRS Schedule of Changes in Fiduciary Net Position pgs 36-37

Reports can be found at www.tmrs.com/financial_reports_FNP.php

Pension Fund Additions & Deductions Downloadable Data

Provides 5 years of data detailing the additions by source, such as investments income, employer and employee contributions and deduction by use, such as benefit payments, withdrawals, and administrative expenses.

Download the data table here.

Links to Other Information

• Texas Comptroller of Public Accounts Public Pension Search Tool
• Search for details on state and local pension plans in Texas; including TMRS
• Governmental Accounting Standards Board (GASB) Pronouncements
• TMRS