Georgetown Pension System Report

As usual for government organizations, the Texas Municipal Retirement System (TMRS) dumped their Comprehensive Annual Financial Report to the public on Friday afternoon, if you know where to look for it on their website.

Here is the key information:

An investment return of 0.34% on a $23.6B portfolio is nothing to write home about.  That's $91.5M earned on the $23.6B investment in 2015.

Also note that they assume they will earn 6.75% on that investment when in reality they have earned just 5.42% annually over the last 10 years.

According to the TMRS management everything is "lollipops and unicorns" as far as the eye can see when you assume your assets grow at a 6.75% annual rate!

Georgetown's city council needs to be exerting themselves with respect to the investments managed by TMRS and the growth assumptions they use in projecting the required city contributions to the retirement fund.