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

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REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF FUNDING PROGRESS (AMOUNTS IN MILLIONS OF DOLLARS) FOR YEAR ENDED DECEMBER 31 NET ASSETS AVAILABLE FOR BENEFITS (A) ACTUARIAL LIABILITY (B) PERCENTAGE FUNDED (A/B) UNFUNDED ACTUARIAL LIABILITY (B-A) ANNUAL COVERED PAYROLL (C) UAL AS A PERCENTAGE OF COVERED PAYROLL ((B-A)/C) 1999 2000 2001 2002 2003 2004 $ 7,685.7 8,438.3 9,236.6 9,998.7 10,815.1 11,619.1 $ 9,039.7 9,944.4 10,866.9 11,868.1 13,100.1 14,036.9 85.0 % 84.9 85.0 84.2 82.6 82.8 $ 1,354.0 1,506.1 1,630.3 1,869.4 2,285.0 2,417.8 $ 2,614.0 2,820.1 3,061.0 3,277.4 3,426.6 3,580.3 51.8 53.4 53.3 57.0 66.7 67.5 % SCHEDULE OF EMPLOYER CONTRIBUTIONS (AMOUNTS IN MILLIONS OF DOLLARS) FOR YEAR ENDED DECEMBER 31 1999 2000 2001 2002 2003 2004 ANNUAL REQUIRED CONTRIBUTION $ 276.7 294.2 323.9 353.6 371.3 401.4 PERCENTAGE CONTRIBUTED 100.0 100.0 100.0 100.0 100.0 100.0 % NOTES TO TREND DATA The information presented in the required supplementary schedules was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation follows: Valuation date 12/31/04 Actuarial cost method Unit credit Amortization method Level percent of payroll Remaining amortization period 25 years-open period Asset valuation method Amortized cost *Actuarial assumptions: Investment rate of return 7.0% Projected salary increases None Includes inflation at 3.50% Cost-of-living adjustments None *See Summary of Actuarial Assumptions in the Actuarial Section for more detailed information. 44 T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004
SUPPLEMENTAL SCHEDULES SCHEDULE OF ADMINISTRATIVE EXPENSES FOR YEARS ENDED DECEMBER 31, 2004 and 2003 2004 2003 PERSONNEL SERVICES Staff salaries $ 3,644,373 $ 3,518,089 Payroll taxes 241,475 231,491 R etirement contributions 430,334 401,412 Insurance 317,002 309,935 TOTAL PERSONNEL SERVICES 4,633,184 4,460,927 PROFESSIONAL SERVICES Consulting fees 438,565 353,476 Actuarial 399,281 464,808 Banking services 28,167 30,965 Legal counsel 73,109 72,727 Medical services 42,400 48,600 Audit 63,000 60,000 TOTAL PROFESSIONAL SERVICES 1,044,522 1,030,576 COMMUNICATION Printing 15,530 11,591 Postage 90,901 76,274 Travel 224,979 216,232 Telephone 85,981 80,273 Information services 539,754 467,095 TOTAL COMMUNICATION 957,145 851,465 RENTALS/EQUIPMENT MAINTENANCE Data processing 138,732 148,690 Equipment service and repair 4,042 8,160 Office equipment 62,653 26,928 Offsite record storage 15,366 12,455 TOTAL RENTALS/EQUIPMENT MAINTENANCE 220,793 196,233 MISCELLANEOUS Dues, subscriptions and training 87,538 109,989 Utilities 54,729 55,631 Supplies 93,573 66,738 B uilding/grounds maintenance 50,955 49,859 Bonds and insurance 50,741 46,443 B oard and advisory committee expense 84,696 134,739 Depreciation 1,106,664 1,132,868 Miscellaneous administative expenses 69,895 54,573 TOTAL MISCELLANEOUS 1,598,791 1,650,840 T OTAL ADMINISTRATIVE EXPENSES $ 8,454,435 $ 8,190,041 Method of Finance: Fiduciary Fund -- Pension Trust Fund. T M R S COMPREHENSIVE ANNUAL FINANCIAL REPORT 2004 45
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 45: NOTES TO FINANCIAL STATEMENTS CONTI
Page 49 and 50: SUPPLEMENTAL SCHEDULES CONTINUED SC
Page 51 and 52: Additions Deductions Transfers to W
Page 67 and 68: Additions Deductions Transfers to S
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
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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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870173 TMRS CAFR new8 fix 049-081.qxd - Texas Municipal ...

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