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: 

Employee Contribution Rate 7
Matching Ratio (City to Member) 2:1
Years Required for Vesting 5
Retirement Eligibility 60-5, 0/20
Updated Service Credit 100% Repeating
Retiree Cost of Living Adjustment 0% of CPI
Supplemental Death Benefits (Both Active Members & Retirees) Yes
Public Pension Summary Table  
Funded Ratio 90.50%
Amortization Period 16.4 Years
One Year Rate of Return* 12.86%
Three Year Rate of Return* 12.08%
Ten Year Rate of Return* 7.82%
Assumed Rate of Return 7.00%
Actually Determined Contribution (ADC) Rate Calendar Year 2022 7.32%
Actually Determined Contribution (ADC) Rate Calendar Year 2023 12.10%
Total Actual Contribution Rate – Calendar Year 2022 7.50%
Total Actual Contribution Rate – Calendar Year 2023 12.32%
Unfunded Actuarial Accrued Liability (UAAL) as a percent of covered payroll 51.20%


*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 

Data Visualizations


Historical Actuarial Value of Assets Versus Actuarial Accrued Liability – Downloadable Data



Actuarially Determined Contribution Rate Versus Actual Total Contribution Rate – Downloadable Data


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.

The ACFR is produced by the Texas Municipal Retirement System and the most updated version can be found at

Pension Fund Additions and 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 spreadsheet here. 

Links to Other Information