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Holiday Trash Schedule - There will be no collection of trash, recyclables, or bulky items on Thanksgiving, Thursday Nov 22, 2018. Waste Management services will be pushed by one day. Thursdays collection will happen on Friday.

Finance & Administration
300 W. Davis St.

Conroe, Texas 77301

Business Hours
Monday-Thursday 7:30am-5:30pm
Friday 8am-5pm

Phone: 936.522.3040


Public Pension

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The City's Pension Plan 

The City of Conroe is a member of Texas Municipal Retirement System (TMRS) a statewide, multiple employer agent plan. In an agent plan, each participating government's pension is centrally administered and governed by state statutes but the assets and related pension liabilities for each government are accounted for separately and any unfunded liabilities are solely the obligation of that government. The City of Conroe has chosen from a menu of plan options as authorized by the TMRS statute. The City of Conroe’s plan provides the following benefit level:

Employee Contributions:

7% of pay

Employer Match at Retirement:

2 to 1 employee account balance

Updated Service Credits:

100% (100% is maximum)

Cost of Living Adjustments:

70% of CPI (70% is maximum)

Vesting of Benefits:

5 years

 

 

 

 

 

Upon retirement the employee account balance including interest is combined with the employer match to price a lifetime annuity based on the employee’s age at retirement.  


Behind the Pension Numbers

To understand the pension commitments made by government to its employees and how successful it has been in funding those commitments to date, it is important to understand 1) investments (management of the assets/TMRS responsibility), 2) actuarial valuations (calculation of the cost of benefits earned to date/TMRS responsibility) and 3) funding (the city’s commitment to make contributions to fund the benefits earned to date/City responsibility).

Information on investment strategies and results are available in the investment section of TMRS’s Comprehensive Annual Financial Report (CAFR) at https://www.tmrs.com/financial_reports.php (pages 58-69). If TMRS does not earn its projected rate of return, assets will be less than expected and the City must make up the shortfall through increased contributions.

Additional information on actuarial policies including valuations and experience studies validating assumptions used can also be found at the site above. If unrealistic actuarial assumptions or methodology are used, actual liabilities could be higher than projected and the City would be required to make up the shortfall with additional contributions.

Information on the City’s commitment to fund its pension liabilities and funded status of those liabilities is provided on this page and in the City’s CAFR, located here.

Interested parties should also note that TMRS employs two separate actuarial valuations: 1) a funding valuation to calculate the City’s actuarially determined contribution and 2) the Governmental Accounting Standards Board (GASB 68) valuation which is used for financial reporting purposes and is reported in the city’s CAFR. Similar in many ways, the primary difference between the two valuations is that the funding valuation uses a smoothed actuarial value of assets and the GASB 68 valuation utilizes fiduciary net position based on a market value of assets on the reporting date.

Actuarial Valuations
Actuarial valuations are used to determine the amount that, when combined with investment earnings, should be consistently deposited into a retirement fund to ensure sufficient funds to pay promised benefits in full and over the long term.  Actuarial valuations also show the plan's funding progress.

 2017 TMRS Valuation  2016 Conroe Valuation  2017 GASB Reporting Package
 2016 TMRS Valuation  2015 Conroe Valuation  2016 GASB Reporting Package
 2015 TMRS Valuation  2014 Conroe Valuation  2015 GASB Reporting Package
 2014 TMRS Valuation  2013 Conroe Valuation  
 2013 TMRS Valuation  2012 Conroe Valuation  
 2012 TMRS Valuation    

 

Statement of Fiduciary Changes 

City of Conroe Comprehensive Annual Financial Reports
The CAFR is Conroe’s official annual financial statements, prepared in accordance with Generally Accepted Accounting Principles. Conroe's CAFR provides comprehensive financial information including statements of fiduciary net position and changes in fiduciary net position.

2017  CAFR
2016  CAFR
2015  CAFR
2014  CAFR
2013  CAFR

TMRS Comprehensive Annual Financial Reports
The CAFR is TMRS’s official annual financial statements, prepared in accordance with Generally Accepted Accounting Principles. TMRS's CAFR provides comprehensive financial information including statements of fiduciary net position and changes in fiduciary net position; City specific information can be found in the appendices.

2017 TMRS CAFR
2016 TMRS CAFR
2015 TMRS CAFR
2014 TMRS CAFR
2013 TMRS CAFR
2012 TMRS CAFR

TMRS Rate Letters
Rate letters are issued by TMRS, and provide the contribution rate for the following calendar year, a summary of the pension plan funding and position, and information on changes that affect the plan.  

2017 Rate Letter for 2018
2016 Rate Letter for 2017
2015 Rate Letter for 2016
2014 Rate Letter for 2015
2013 Rate Letter for 2014

Texas Comptroller of Public Accounts Public Pension Search Tool
Search for details on state and local pension plans in Texas.