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

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STATEMENTS OF CHANGES IN PLAN NET ASSETS FIDUCIARY FUND — PENSION TRUST FUND FOR THE YEARS ENDED DECEMBER 31, 2004 and 2003 2004 2003 ADDITIONS Contributions: Employer $ 401,399,639 $ 371,308,541 Plan members 230,042,992 218,080,501 Total contributions 631,442,631 589,389,042 Net investment income: From investing activities: Net appreciation/(depreciation) in fair value of investments 662,322,405 (326,507,704) Interest 605,955,886 578,935,534 Total investing activities income 1,268,278,291 252,427,830 Less investment activity expense (742,990) (795,832) Net income from investing activities 1,267,535,301 251,631,998 From securities lending activities: Securities lending income 70,959,011 26,556,850 Securities lending expenses: Borrower rebates (64,328,943) (22,120,921) Agent fees (2,320,535) (1,549,403) Net income from securities lending activities 4,309,533 2,886,526 Net investment income 1,271,844,834 254,518,524 Other miscellaneous 2,842 83,138 TOTAL ADDITIONS 1,903,290,307 843,990,704 DEDUCTIONS Benefit payments: Service retirement 350,260,214 313,384,008 Disability retirement 13,061,149 12,412,401 Distributive benefits 30,044,642 40,426,932 Partial lump-sum distributions 78,742,778 76,433,937 Total benefit payments 472,108,783 442,657,278 Refunds of contributions 45,644,567 40,498,175 Administrative expenses 8,454,435 8,190,041 TOTAL DEDUCTIONS 526,207,785 491,345,494 CHANGE IN NET ASSETS 1,377,082,522 352,645,210 NET ASSETS HELD IN TRUST FOR PENSION BENEFITS: BEGINNING OF YEAR 10,557,514,220 10,204,869,010 END OF YEAR $ 11,934,596,742 $ 10,557,514,220 See accompanying notes to financial statements. 32 T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004
STATEMENTS OF NET ASSETS PROPRIETARY FUND - SUPPLEMENTAL DEATH BENEFITS FUND AS OF DECEMBER 31, 2004 and 2003 ASSETS 2004 2003 Current Assets: Short-term investments $ 18,998,604 $ 18,434,152 Contributions receivable 572,230 495,976 TOTAL ASSETS 19,570,834 18,930,128 NET ASSETS Restricted net assets 19,570,834 18,930,128 TOTAL NET ASSETS $ 19,570,834 $ 18,930,128 See accompanying notes to financial statements. T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004 33
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: STATEMENTS OF PLAN NET ASSETS FIDUC
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
Page 49 and 50: SUPPLEMENTAL SCHEDULES CONTINUED SC
Page 51 and 52: Additions Deductions Transfers to W
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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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