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

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TMRS BOARD OF TRUSTEES Connie J. Green, Chair Acting City Manager Killeen Term expires: February 1, 2005 Kathryn Usrey, Vice Chair Director of Human Resources Carrollton Term expires: February 1, 2009 Patricia Hernandez Municipal Court Judge Plainview Term expires: February 1, 2005 Carolyn Linér Director of Human Resources / Civil Service San Marcos Term expires: February 1, 2007 Rick Menchaca City Manager Midland Term expires: February 1, 2007 Seated from left: Carolyn Linér, Patricia Hernandez, Kathryn Usrey Standing from left: Rick Menchaca, Connie J. Green, Frank Simpson THE TMRS BOARD OF TRUSTEES Frank Simpson City Manager Missouri City Term expires: February 1, 2009 The TMRS Act provides that the administration of TMRS is entrusted to a six-member Board of Trustees, appointed by the Governor with the advice and consent of the Senate. Three Trustees are “Executive Trustees” (Green, Menchaca, and Simpson) who are either the chief executive officer, chief finance officer, or other officer, executive, or department head of a participating municipality. Three Trustees are “Employee Trustees” (Hernandez, Linér, and Usrey) who are employees of a participating municipality. TMRS ADVISORY COMMITTEE The TMRS Advisory Committee on Retirement Matters was established by the Board of Trustees in December, 1994. This nine-member committee provides input to the Board of Trustees on various issues related to TMRS and also serves as a conduit for communication between TMRS and its members, member cities, and retirees. Susan Beckley-Helt (employee) Leo Montalvo (elected official) George Logan (retiree) Public Info. Officer, City of Plano Mayor, City of McAllen Jim Moore (employee) Ron Silvia (elected official) Jim Starr (retiree) Asst. Fire Chief, City of Mesquite Mayor, City of College Station Isaac Valencia (employee) Vacancy (elected official) Stephen McCullough (former Trustee) Police Lieutenant, City of Corpus Christi City Manager, City of Irving 14 T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004
TMRS PROFESSIONAL ADVISORS LEGAL COUNSEL Kendall & Osborn INVESTMENT ADVISORS A. Gary Shilling & Co. Hillswick Asset Management, LLC COMPENSATION & BENEFITS ADVISOR The Waters Consulting Group, Inc. AUDITORS Deloitte & Touche LLP ACTUARY The Segal Company MEDICAL BOARD Grover Bynum, MD Albert LaLonde, MD Tim Lowry, MD CUSTODIAN State Street Bank and Trust Company DEPOSITORY BANK JPMorgan Chase Bank TMRS STAFF EXECUTIVE STAFF EXECUTIVE DIRECTOR Gary W. Anderson DEPUTY EXECUTIVE DIRECTOR, SUPPORT Eric W. Davis DEPUTY EXECUTIVE DIRECTOR, OPERATIONS Debra Lyon GENERAL COUNSEL David Gavia DIRECTOR OF INVESTMENTS Preston G. Craig DIRECTOR OF FINANCE AND HUMAN RESOURCES Rhonda Covarrubias Seated from left: Standing from left: Gary Anderson, Debra Lyon, Eric Davis Gary Craig, Rhonda Covarrubias, David Gavia The TMRS Executive Staff assists the Executive Director in developing policy and setting direction for the organization. T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004 15
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: TMRS HIGHLIGHTS 2001 2002 2003 2004
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 47 and 48: SUPPLEMENTAL SCHEDULES SCHEDULE OF
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Additions Deductions Transfers to S
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A small city 18 miles east of Waco
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REPORT ON INVESTMENT ACTIVITY CONTI
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SUMMARY OF INVESTMENTS AS OF DECEMB
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2004 INVESTMENT RESULTS CONTINUED T
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LARGEST HOLDINGS (BY FAIR VALUE) AS
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TEXARKANA Population: 34,782 A Pine
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SUMMARY OF ACTUARIAL ASSUMPTIONS I.
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SUMMARY OF ACTUARIAL ASSUMPTIONS CO
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SUMMARY OF ACTUARIAL LIABILITIES AN
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CONTRIBUTION RATE INFORMATION CONTI
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ACTUARIAL VALUATION OF PARTICIPATIN
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WEIMAR Population: 1,981 STATISTICA
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SCHEDULE OF BENEFIT EXPENSES BY TYP
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SCHEDULE OF RETIRED MEMBERS BY TYPE
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PLAN PROVISIONS FOR PARTICIPATING M
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Vesting Requirement PLAN PROVISIONS
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