Page 128 - Southlake FY24 Budget

TMRS Funded Ratio & Amortization Period

AMORTIZATION PERIOD (YEARS) FUNDED RATIO
25.0 110.0%

97.8% 97.8% 100.0%
20.0 95.8% 96.7%
93.2%
91.2% 91.5% 91.6%
89.0% 89.3% 89.6% 90.2% 90.6%
86.6% 86.6% 87.1% 87.8% 88.0% 90.0%
15.0
City Profile
FUNDED RATIO (%)
80.0%

10.0
70.0%

61.2%
5.0
60.0%

- 50.0%

Desired Funded
As of December 31, 2022 Ratio Range

This chart reflects the funded ratio and the amortization period for the City of Southlake and its
benchmark cities with Texas Municipal Retirement System (TMRS). The funded ratio is the ratio of the
actuarial value of assets to the actuarial accrued liability. 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. As you can see, the Southlake currently has the longest amortization period,
compared to its benchmark cities. The City is actively working to raise the funded ratio and lower the
amortization period by exceeding the annual contribution requirement

Amortization Amortization
City Funded Ratio City Funded Ratio
Period (Years) Period (Years)
Allen 87.8% 20.7 Grapevine 86.6% 15.7
Arlington 97.8% 19.9 Hurst 93.2% 13.4
Bedford 61.2% 18.2 Keller 87.1% 18.0
Carrollton 95.8% 12.5 McKinney 86.6% 20.7
Colleyville 96.7% 18.5 North Richland Hills 90.2% 15.9
Coppell 88.0% 18.1 Plano 91.2% 13.1
Euless 91.6% 12.2 Richardson 91.5% 11.3
Farmers Branch 89.6% 14.5 University Park 97.8% 5.3
Flower Mound 89.3% 20.1 Southlake 90.6% 21.0
Frisco 89.0% 20.8

128 FY 2024 City of Southlake | Budget Book