Sunday, April 30, 2017

San Antonio Express News Publishes Op-ed by TEXPERS

The Moving Targets of Pension Fund Opponents

Max Patterson, For the Express-News

April 30, 2017
Texas Sen. Paul Bettencourt wants the public to believe that statewide retirement systems are in trouble because of low investment returns and that the solution will cause taxpayers to foot the bill. The truth is statewide retirement systems and some local pension systems are underfunded because for years, the state and some cities did not fund the plans they approved.
A Texas Association of Public Employee Retirement Systems, or TEXPERS, survey showed that about 25 percent of our members did not receive their full actuarially required contribution in 2016. Public employers now see this is a problem, but some people still want to blame the investment market.

Wednesday, April 26, 2017

TEXPERS Salutes El Paso Firemen and Policemen's Pension Fund for 20-year Returns

TEXPERS recognized the El Paso Firemen and Policemen’s Pension Fund for maintaining its ranking as one of the best in Texas in the closely-watched measure of 20-year investment returns.

The El Paso public safety employee pension system maintained an 8.21 percent average yearly performance over the past 20 years according to survey results in TEXPERS’ annual "Report on the Asset Allocation and Investment Performance of Texas Public Employee Retirement Systems" for the period ended September 30, 2016.

TEXPERS Executive Director Max Patterson said, "The El Paso Firemen and Policemen’s Pension Fund has certainly excelled in enhancing the profitability of its members and city sponsor’s contributions. The pension fund’s focus on the long term has made it a trusted steward within El Paso, but it is truly an exemplary system for all of Texas."

Tyler Grossman, executive director of the El Paso Firemen and Policemen's Pension Fund, said, “We take our fiduciary responsibility to the members of our Fund very seriously. One of our most important roles is investing our members’ money wisely. Our returns reflect our robust investment policy which requires balancing risk control and due diligence. This enables us to make sound decisions in the management of the Fund."