870173 TMRS CAFR new8 fix 049-081.qxd - Texas Municipal ...

More documents

Recommendations

Info

SCHEDULE OF AVERAGE BENEFIT PAYMENTS RETIREMENT EFFECTIVE DATES JAN. 1, 1995-DEC. 31, 2004 YEARS CREDITED SERVICE FOR YEAR ENDED DECEMBER 31: 0-5 5-10 10-15 15-20 20-25 25-30 30 + 1995 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $73.19 11 $279.69 27 $431.46 249 $676.75 178 $955.13 146 $1,454.33 265 $2,288.53 216 1996 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $99.84 13 $230.23 36 $450.56 254 $790.72 211 $1,122.38 227 $1,636.73 364 $2,362.11 227 1997 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $73.26 8 $331.16 40 $468.65 243 $803.42 204 $1,082.21 242 $1,571.26 300 $2,394.68 207 1998 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $84.99 19 $295.86 32 $465.43 265 $810.28 213 $1,083.21 317 $1,536.31 359 $2,333.53 289 1999 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $131.63 13 $298.15 36 $486.12 221 $818.79 242 $1,102.93 320 $1,585.70 367 $2,248.33 281 2000 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $85.82 20 $371.84 39 $552.42 314 $842.45 294 $1,097.63 481 $1,653.36 458 $2,378.00 331 2001 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $100.40 24 $336.40 47 $538.37 256 $919.84 235 $1,130.96 500 $1,671.67 405 $2,298.83 341 2002 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $78.44 45 $311.23 194 $596.85 266 $934.80 263 $1,112.31 658 $1,686.51 406 $2,532.07 328 2003 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $99.08 57 $290.68 183 $652.19 257 $945.88 233 $1,114.81 641 $1,893.98 469 $2,680.15 359 2004 AVERAGE MONTHLY BENEFIT NUMBER OF ACTIVE RETIREES $87.13 85 $288.20 201 $616.84 248 $942.03 261 $1,270.28 603 $1,892.91 476 $2,758.60 377 156 T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004
SCHEDULE OF RETIRED MEMBERS BY TYPE OF BENEFIT Amount of Annuity Recipients Type of Benefit Retiree Survivor Lifetime Options Guaranteed Term Options Monthly Benefit Retirees Beneficiary Service Disability Life Only 100% 75% 50% 2/3 5 yrs 10 yrs 15 yrs $ 0 100 309 94 279 124 54 212 2 37 21 28 19 30 $ 101 500 4,478 1,377 4,923 932 777 2,283 74 568 274 758 439 682 $ 501 1000 5,748 1,123 6,272 599 839 2,457 116 823 411 929 470 826 $ 1001 1500 4,212 582 4,581 213 540 1,664 102 671 345 626 306 540 $ 1501 2000 2,616 258 2,829 45 312 932 79 417 280 348 166 340 $ 2001 2500 1,660 168 1,808 20 185 611 56 269 209 232 92 174 $ 2501 3000 1,040 85 1,121 4 129 322 45 165 153 139 58 114 $ 3001 3500 652 47 696 3 64 163 39 116 98 110 33 76 $ 3501 4000 382 23 403 2 51 104 14 75 60 57 12 32 $ 4001 & Over 619 32 650 1 78 125 38 132 97 91 34 56 Subtotals 21,716 3,789 23,562 1,943 3,029 8,873 565 3,273 1,948 3,318 1,629 2,870 Totals 25,505 25,505 25,505 RETIREE LIFE - 100% SURVIVOR BENEFIT A retirement annuity payable throughout the life of the retiree. Upon death of the retiree, the same amount is payable throughout the life of the designated beneficiary. If the beneficiary dies before the retiree, the monthly payments the retiree will receive after that will be increased to the amount that would have been payable throughout the retiree's lifetime only (Retiree Life Only).* RETIREE LIFE - 75% SURVIVOR BENEFIT A retirement annuity payable throughout the life of the retiree. Upon the death of the retiree, three-fourths the amount is payable throughout the life of the designated beneficiary. If the beneficiary dies before the retiree, the monthly payments the retiree will receive after that will be increased to the amount that would have been payable throughout the retiree's lifetime only (Retiree Life Only).* RETIREE LIFE - 50% SURVIVOR BENEFIT A retirement annuity payable throughout the life of the retiree. Upon the death of the retiree, one-half the amount is payable throughout the life of the designated beneficiary. If the beneficiary dies before the retiree, the monthly payments the retiree will receive after that will be increased to the amount that would have been payable throughout the retiree's lifetime only (Retiree Life Only).* RETIREE LIFE - 2/3 SURVIVOR BENEFIT (NO LONGER AVAILABLE) A retirement annuity payable throughout the life of the retiree. Upon the death of the retiree, two-thirds the amount is payable throughout the life of the designated beneficiary. If the beneficiary dies before the retiree, the monthly payments the retiree will receive after that will be increased to the amount that would have been payable throughout the retiree's lifetime only (Retiree Life Only).* RETIREE LIFE - FIVE YEARS GUARANTEED A retirement annuity payable throughout the life of the retiree. If the retiree dies before the expiration of a five-year period after the date of retirement, the designated beneficiary, or if one does not exist, the retiree's estate, will receive the same amount for the balance of the five-year period, and then all payments cease.* RETIREE LIFE - 10 YEARS GUARANTEED A retirement annuity payable throughout the life of the retiree. If the retiree dies before the expiration of a ten-year period after the date of retirement, the designated beneficiary, or if one does not exist, the retiree's estate, will receive the same amount for the balance of the ten-year period, and then all payments cease.* RETIREE LIFE - 15 YEARS GUARANTEED A retirement annuity payable throughout the life of the retiree. If the retiree dies before the expiration of a fifteenyear period after the date of retirement, the designated beneficiary, or if one does not exist, the retiree's estate, will receive the same amount for the balance of the fifteen-year period, and then all payments cease.* RETIREE LIFE ONLY A retirement annuity payable monthly as long as the retiree lives. Upon the retiree's death all payments will cease even though the retiree may have received only one monthly payment.* *If all eligible recipients die before receiving benefits at least equal to the member deposits and interest in the retiree's account at the time of retirement, the remaining balance will be paid to the retiree's estate or beneficiary. If the retiree elected to receive a partial lump-sum distribution, the amount of that distribution will reduce the member deposits and interest used for this calculation. T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004 157
Page 1 and 2:
★ Texas Municipal Retirement Syst
Page 3 and 4:
TMRS® TEXAS MUNICIPAL RETIREMENT S
Page 5 and 6:
TABLE OF CONTENTS ACTUARIAL SECTION
Page 7 and 8:
DENISON Population: 22,773 INTRODUC
Page 9 and 10:
LETTER OF TRANSMITTAL T M R S COMPR
Page 11 and 12:
LETTER OF TRANSMITTAL CONTINUED T M
Page 13 and 14:
LETTER OF TRANSMITTAL CONTINUED T M
Page 15 and 16:
TMRS HIGHLIGHTS 2001 2002 2003 2004
Page 17 and 18:
TMRS PROFESSIONAL ADVISORS LEGAL CO
Page 19 and 20:
TMRS STAFF CONTINUED MEMBER SERVICE
Page 21 and 22:
TMRS ADMINISTRATIVE ORGANIZATION T
Page 23 and 24:
SUMMARY OF PLAN PROVISIONS CONTINUE
Page 25 and 26:
SUMMARY OF PLAN PROVISIONS CONTINUE
Page 27 and 28:
GREENVILLE FINANCIAL SECTION Popula
Page 29 and 30:
INDEPENDENT AUDITORS’ REPORT CONT
Page 31 and 32:
MANAGEMENT'S DISCUSSION AND ANALYSI
Page 33 and 34:
STATEMENTS OF PLAN NET ASSETS FIDUC
Page 35 and 36:
STATEMENTS OF NET ASSETS PROPRIETAR
Page 37 and 38:
STATEMENTS OF CASH FLOWS PROPRIETAR
Page 39 and 40:
NOTES TO FINANCIAL STATEMENTS CONTI
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
SUPPLEMENTAL SCHEDULES SCHEDULE OF
Page 49 and 50:
SUPPLEMENTAL SCHEDULES CONTINUED SC
Page 51 and 52:
Additions Deductions Transfers to W
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Additions Deductions Transfers to S
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
A small city 18 miles east of Waco
Page 87 and 88:
REPORT ON INVESTMENT ACTIVITY CONTI
Page 89 and 90:
SUMMARY OF INVESTMENTS AS OF DECEMB
Page 91 and 92:
2004 INVESTMENT RESULTS CONTINUED T
Page 93 and 94:
LARGEST HOLDINGS (BY FAIR VALUE) AS
Page 95 and 96:
TEXARKANA Population: 34,782 A Pine
Page 97 and 98:
SUMMARY OF ACTUARIAL ASSUMPTIONS I.
Page 99 and 100:
SUMMARY OF ACTUARIAL ASSUMPTIONS CO
Page 101 and 102:
SUMMARY OF ACTUARIAL LIABILITIES AN
Page 103 and 104:
CONTRIBUTION RATE INFORMATION CONTI
Page 105 and 106:
ACTUARIAL VALUATION OF PARTICIPATIN
Page 107 and 108: ACTUARIAL VALUATION OF PARTICIPATIN
Page 155 and 156: WEIMAR Population: 1,981 STATISTICA
Page 157: SCHEDULE OF BENEFIT EXPENSES BY TYP
Page 161 and 162: PLAN PROVISIONS FOR PARTICIPATING M
Page 191: Vesting Requirement PLAN PROVISIONS
show all

870173 TMRS CAFR new8 fix 049-081.qxd - Texas Municipal ...

Create successful ePaper yourself

Delete template?

Save as template?