Page 111 - Southlake FY23 Budget

CITY PROFILE

tmrS funDeD ratio & amortization PerioD

35.0 100.00%

86.60% 84.50% 88.00% 87.40% 87.90% 88.70% 88.70% 89.10% 90.10% 91.10% 90.00%
30.0 81.00% 83.20%
80.00%
74.30%
25.0 70.00%
22.2
60.00%
20.0 50.00%
AMORTIZATION PERIOD (YEARS) 15.0 40.00% FUNDED RATIO (%)

30.00%
10.0

5.0 20.00%
10.00%

- 0.00%
Desired Funded
Ratio Range
CALENDAR YEAR

This chart reflects the funded ratio and the amortization period for the City of Southlake’s plan with Texas Municipal
Retirement System (TMRS). The funded ratio is the ratio of the actuarial value of assets to the actuarial accrued
liability. The City’s current funded ratio is 91.10% and, generally, ratios above 80% are considered to be positive.
The amortization period is the period over which the existing unfunded actuarial accrued liability is projected to be
paid off. For the City of Southlake, the period is 22.2 years. The City is actively working to raise the funded ratio and
lower the amortization period by exceeding the contribution requirement.

Amortization Period
Calendar Year Funded Ratio
(years)
2009 74.30% 28.3
2010 81.00% 27.2
2011 83.20% 26.2
2012 86.60% 25.3
2013 84.50% 30.0
2014 88.00% 29.1
2015 87.40% 28.3
2016 87.90% 27.1
2017 88.70% 26.1
2018 88.70% 25.1
2019 89.10% 24.1
2020 90.10% 23.2
2021 91.10% 22.2
110 FY 2023 City of Southlake | BUDGET BOOK
WWW.CITYOFSOUTHLAKE.COM