Table of Contents
- Credit Fundamentals By Sector
- Plan Summary
- Texas Municipal Retirement System
- Texas County and District Retirement System
- Employees Retirement System
- Teacher Retirement System
- Single-Employer Plans Around The State
- Related Research
Key Takeaways
- The Texas Municipal Retirement System and the Texas County and District Retirement System are well funded and pose minimal credit pressure on local government issuers.
- The Teacher Retirement System features poor funding discipline. However, recent legislative changes to contributions should improve funding discipline with minimal impact on affordability for participating issuers.
- The Employees Retirement System also features poor funding discipline, as a result of low statutory contribution rates. This has led to a weak funded status and a projected depletion of plan assets.