TMRS plans to mail 1099-Rs to annuitants on January 23. The 1099-Rs will be available on MyTMRS on January 23. In addition, the HELPS Tax Statements for 2016 are available on MyTMRS and will mail tomorrow, January 19.
TMRS would like to assure our members that the news stories about pension problems in certain Texas cities do not involve TMRS. Houston and Dallas have pension programs that are local and independent, not affiliated with TMRS. If you want more information about how TMRS works and how it is different from most other retirement programs, you may find this presentation helpful.
TMRS has posted an online resource page to help cities locate the information needed to apply for the public pension star, one of the five stars awarded under the Texas Comptroller of Public Accounts’ Transparency Stars program (application process information here). The Transparency Stars program for local governments aims to recognize transparency in decision-making in several areas, including pensions. The City of Carrollton was the first TMRS city to obtain the Transparency Star for Public Pensions.
The last 2016 City Correspondent course (for city staff who administer the TMRS program) will be held November 15-16 in Austin at the TMRS building. The fee to attend the one-and-a-half day course is $50 (send in with registration form). TMRS has an agreement with the Doubletree Hilton – University Area for a block of rooms for the nights of November 14 and 15 (room rate is $169 per night; for reservations, call 512-479-4000 and mention you’re in the TMRS Certification Course). The deadline for the hotel’s block rate is October 17. If you have questions, send a note to firstname.lastname@example.org.
The 2016 Annual Training Seminar, held in Austin at the Sheraton Austin at the Capitol, wrapped up at noon on Friday, September 9. Representatives from 75 TMRS cities (130 attendees overall) enjoyed networking with their peers and a variety of training sessions, which included overview presentations, panel discussions, and keynote speakers. Presentations for the training sessions are linked from the online schedule.
Next year’s seminar will be held in Grapevine on October 25-27 at the Gaylord Texan Resort and Convention Center. Mark your calendars!
The Governmental Accounting Standards Board Statement No. 68 (GASB 68) pension disclosure information for cities for 2016 fiscal year is now available in the "Eye on GASB" section of our website.
The SOC-1 Type 2 audit for TMRS, for the period covering April 16, 2015 to April 30, 2016, is now available on the City Portal. City Auditors should become familiar with the SOC-1 audit and use it as a resource in their city audits.
On June 24, the TMRS Board of Trustees approved the distribution of the Texas Municipal Retirement System’s 2015 Comprehensive Annual Financial Report for the years ended December 31, 2015 and 2014 (CAFR). The CAFR is now posted on the TMRS website.
The 2017 Rate Letters for cities are now available online. Choose your city’s name from the dropdown menu and view or download your rate letter. The letters contain detailed information on city contribution rates for the year beginning January 1, 2017. Please call 1-800-924-8677 if you have questions.
Please note that the information cities will need for financial disclosures (the GASB reporting package) will be available as a separate download on the TMRS website later this summer.
The TMRS Actuarial Valuation for the year ended December 31, 2015, containing city contribution rates for 2017, is now posted online.
TMRS retirees can now make changes to their income tax withholding selection through MyTMRS. If you are not a registered MyTMRS user, this is a great time to sign up!
Governor Greg Abbott has reappointed James P. “Jim” Jeffers, City Manager of Nacogdoches, and David A. Landis, City Manager of Perryton, to the TMRS Board of Trustees for terms to expire February 1, 2021.