Texas pensions continue positive performance
Pension Review Board shows remarkable increase in assets, stable benefits at 93 state and local pension funds across Texas.
The Texas Pension Review Board recently published its periodic report of data submitted by 93 state and local pension funds. We at the Texas Association of Public Employee Retirement Systems watch these reports closely. Please accept the following summary:
- In the three months between the February and May PRB reports, the total actuarial value of assets of under public employee pension fund management increased about $11 billion, from $232 billion to $243 billion.
- The unfunded liabilities of all 93 systems increased $500 million, or just 0.1%, to $60.7 billion from $60.2 billion. This represents a 22 to 1 ratio of increase of assets to liabilities in just a three month period.
TEXPERS' previous study of 5-year amortization period trends using PRB report data proves that Texas' state and local pension funds are working with plan sponsors and public employees to set contributions and benefits at sustainable levels. The current data comparing total assets to total unfunded liabilities is another way of confirming this dynamic. The 22 to 1 ratio is truly remarkable.