Highlights from the 2022 TCDRS Annual Report

Like The Big Tree, TCDRS is designed to grow steadily over the long-term and is built to weather storms.

Each year, TCDRS publishes our Annual Comprehensive Financial Report. This report highlights our strong financial position, growth and commitment to serving our membership. You can now access our latest report, which covers the year ended Dec. 31, 2022, here.

The theme of our annual report this year is Texas trees. One native giant known as "The Big Tree" is a large live oak located in Rockport, Texas. This tree is estimated to be over 1,000 years old and is one of the largest live oaks in the United States. It has survived numerous natural disasters, including hurricanes and droughts, and has become a symbol of resilience and strength.

Like The Big Tree, TCDRS is designed to grow steadily over the long-term and is built to weather storms. TCDRS has a strong foundation of roots to anchor our members’ futures and support our growth over time. Our disciplined funding, diversified investments and savings-based benefits promote our stability, financial strength and long-term success.

By the Numbers

• Since 1967, TCDRS has grown into a $42 billion trust. We continue to be well-funded at 89% with a reserves fund of over 5% of assets that may be used to offset future adverse experience.

• TCDRS is a long-term investor with a fully diversified portfolio. The board constructs the investment portfolio to maximize return within an acceptable level of risk. In 2022, the portfolio returned -5.8%, net of all fees. This exceeded our benchmark of -8.8%. Our 30-year return was 7.6% for the period ended Dec. 31, 2022.

• Today, we partner with nearly 850 counties and governmental districts to provide reliable retirement, disability and survivor benefits to more than 360,000 hardworking Texans.

• In 2022, we paid $2.1 billion in benefits to retirees and former members, and 96% of these benefits went to Texas residents. That income serves as an economic engine to our local Texas economies, creating jobs and generating additional economic activity.

Beyond the Numbers

In 2022, TCDRS delivered technology and service enhancements to further our digital transformation. Going fully paperless will allow us to better serve our members and employers with faster and more convenient account management and more efficient processes.

At TCDRS, we are proud to work on behalf of our members and employers to ensure that our system remains strong and sound for the future.

Just as it takes effort and care to nurture and maintain a healthy tree, it takes hard work, dedication and perseverance to ensure TCDRS’ success in the future. We thank everyone who has helped to make TCDRS a model for retirement and a benefit that can be counted on by so many Texans.

Investments & Finance