Public Pension Reports and Information

Pension Information

Chambers County is a member of the Texas County and District Retirement System (TCDRS). TCDRS is a statewide, agent multiple-employer, public-employee retirement system. TCDRS serves nearly 800 actively participating counties and districts throughout Texas. Each employer maintains its own customized plan of benefits.

Chambers County Benefit Levels
Employee Contribution Rate	7% of pay
Employee Matching Rate	220%
Years Required for Vesting	8 years
Service Retirement Eligibility	75 years total (age + service) or 30 years at any age
Prior Service Credit	145%

Actuarial Information as of December 31, 2022
Actuarial Accrued Liability (AAL)	$141,228,572
The Actuarial Value of Assets (AVA)	$127,586,394
Unfunded Actuarial Accrued Liability (UAAL)	$13,642,178
Funded Ratio (AVA/AAL)	90.3%
Equivalent Single Amortization Period	7.9 years
The Assumed Rate of Return	8.47%
Valuation Payroll	$32,017,095
UAAL as a Percentage of Covered Payroll	(3.13%)

Pensions Assets Liabilities Worksheet (XLSX)

Fiduciary Net Position

		2022	2021	2020	2019	2018
Fiduciary Net Position, Jan. 1		139,114,374	113,962,409	103,052,927	88,601,143	90,744,158
Additions:
	Net investment income credited to municipality	-	25,048,418	10,646,725	14,550,107	-1,694,735
	Employer contributions	4,552,704	4,452,606	4,168,712	1,705,612	1,505,005
	Plan member contributions	2,241,197	2,191,858	2,052,106	3,464,824	3,057,316
Deductions:
	Allocated Net Loss	-8,158,754	-	-	-	-
	Benefits Paid & Withdrawals	-6,751,008	-6,501,102	-5,894,541	-5,203,467	-4,937,807
	Administrative Expenses, Net	-76,794	-75,262	-83,388	-78,530	-71,165
	Other	122,295	35,446	19,867	13,238	-1,629
Fiduciary Net Position, Dec. 31		131,044,014	139,114,373	113,962,408	103,052,927	88,601,143

Fiduciary Net Position 2019 (XLSX)

Portfolio Management Strategy

The long-term expected rate of return of TCDRS assets is determined by adding expected inflation to expected long-term real returns and reflecting expected volatility and correlation. The target allocation and best estimate of the geometric real rate of return for each major asset class are summarized in the following table

Asset Class	Target Percent	*Long-Term Expected Real Rate of Return (Geometric)**
U.S. Equities	11.50%	4.95%
Global Equities	2.50%	4.95%
International Equities - Developed Markets	5.00%	4.95%
International Equities - Emerging Markets	6.00%	4.95%
Investment - Grade Bonds	3.00%	2.40%
Strategic Credit	9.00%	3.39%
Direct Lending	16.00%	6.95%
Distressed Debt	4.00%	7.60%
REIT Equities	2.00%	4.15%
Master Limited Partnerships (MLPs)	2.00%	5.30%
Private Real Estate Partnerships	6.00%	5.70%
Private Equity	25.00%	7.95%
Hedge Funds	6.00%	2.90%
Cash Equivalents	2.00%	0.20%
*Geometric real rates of return equal the expected return minus the assumed inflation rate of 2.3% per Cliffwater's 2023 capital market assumptions.