The Public Pension page contains information required by the Texas Comptroller of Public Accounts to qualify for the Comptroller's Transparency Stars program. This information will provide a broader understanding of the City's finances.
The City of Sachse's pension plan is provided by the Texas Municipal Retirement System (TMRS). This retirement program is jointly funded by employees and the City. TMRS is an agency created by the State of Texas and administered in accordance with the TMRS Act, Subtitle G, Title 8, Texas Government Code. Benefit provisions are adopted by the governing body of the city, within the options available in the state statues governing TMRS.
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.
The Comprehensive Annual Financial Report is TMRS's official annual financial statements, prepared in accordance with Generally Accepted Accounting Principles. TMRS's Annual Report 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.
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.
2020 Rate Letter for 2021
2019 Rate Letter for 2020
2018 Rate Letter for 2019
2017 Rate Letter for 2018
2016 Rate Letter for 2017