Page 127 - Southlake FY24 Budget

TMRS Retirement Contribution Rate

22.00%

20.00%
18.00%
16.00% City Profile

14.00%
12.49%
12.00%
RATE 10.00%
CONTRIBUTION 8.00%

6.00%

4.00%
2.00%

0.00%

Calendar Year 2023

This chart reflects a side by side comparison of the Texas Municipal Retirement System (TMRS)
contribution rate for the City of Southlake and its benchmark cities. This chart shows that Southlake’s
required contribution rate is lower than average. As noted previously, the City of Southlake has exceeded
the contribution requirement in order to reduce the amortization period from 30 years to 25 years.

TMRS Retirement TMRS Retirement
City City
Contribution Rate Contribution Rate
Allen 15.19% Grapevine 20.06%
Arlington 10.74% Hurst 12.91%
Bedford 17.00% Keller 16.42%
Carrollton 11.62% McKinney 15.48%
Colleyville 10.22% North Richland Hills 17.91%

Coppell 17.79% Plano 17.64%
Euless 18.66% Richardson 16.05%
Farmers Branch 20.02% University Park 8.59%
Flower Mound 11.30% Southlake 12.49%
Frisco 14.33%

FY 2024 City of Southlake | Budget Book 127