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Victoria County welcomes you to our Public Pension Transparency webpage.  It is our objective to provide the public with clear, understandable and searchable information regarding the county's pension plan.

Victoria County provides retirement, disability and death benefits for full-time employees through an agent, multiple-employer, defined-benefit plan. This plan is administered by the state-wide, public-employee Texas County and District Retirement System ("TCDRS"). TCDRS is governed by the TCDRS Board of Trustees and administers the pension plans of nearly 800 counties and districts throughout Texas.  While the County is a part of TCDRS, the Victoria County Commissioners Court defines the benefit plan for county employees and retirees.

The basic plan options include:

Employee contribution rate 7%
Employer matching rate 200%
Years required for vesting 8 years
Prior service credit 135%
Other benefits Group Term life Insurance;
  Partial Lump-Sum Payment at Retirement

A county employee is eligible for retirement if any of the following criteria are met:

Rule of 75 Age + years of service = 75
Vested at age 60 8 years of full-time service
20 years at any age 20 years of full-time service any age

  • Actuarial Information

    TCDRS provides an actuarial valuation of the County's retirement plan each year. The valuation provides a snapshot of the plan's financial condition and results are used to determine the County's required contribution rate. The most recent Actuarial Information follows:

    Values as of December 31, 2022

    Actuarial Value of Assets $178,036,693 

    Actuarial Liabilities $209,545,890

    Unfunded AAL $31,509,197

    Funded Ratio                 85.0%

    Effective Amortization Period 17.6

    Assumed Rate of Return 7.5%

    Valuation Payroll $32,646,885

    UAAL Percent of Covered Payroll 7.77%


    Actuarial Methodology

    • Actuarial cost method - Entry age
    • Amortization method - Level percentage of payroll, closed
    • Remaining amortization period - 17.6 years (based on contribution rate calculated in 12/31/2022 valuation)
    • Asset valuation method 5 year smoothed market
    • Inflation- 2.50%
    • Salary increases Varies by age and service. 3.0% average over career, including inflation
    • Investment rate of return 7.50%, net of investment expenses, including inflation
    • Retirement age Members who are eligible for service retirement are assumed to commence receiving benefit payments based on age. The average age at service retirement for recent retirees is 61. 

    Actuarially Determined Contribution Rate versus the Actual Total Contribution Rate for Victoria County

    For calendar year 2024, Victoria County Commissioners Court elected a Total Contribution Rate of 15.28% of payroll, which will go towards funding the County’s retirement plan. This rate includes 0.22% for Group Term Life and the Determined Contribution Rate of 15.06% for the same period. 

    Below Chart 1 compares the Actuarially Determined Contribution Rates versus Victoria County's Actual Total Contribution Rates. Over the last five years, Victoria County Commissioners Court has paid the actuarially determined contribution rate. 

    Below, Chart 2 shows the five year history of Victoria County's Actuarial Value of Assets versus Actuarial Accrued Liabilities. This data can be found in the Victoria County Comprehensive Annual Financial Report.

    Actuarially determined rates are calculated each December 31, two years prior to the end of the fiscal year in which contributions are reported. 
    Click here for downloadable data related to actuarial value of assets and actuarial accrued liabilities.
  • Employers and employees save for benefits over the course of an employee's career. The funds are pooled and invested in a diversified portfolio that seeks to maximize returns within acceptable levels for risk. Portfolio asset allocation and historical returns (net of all fees) are below:
    Portfolio Management Strategy

    The long-term expected rate of return of TCDRS assets is determined by adding expected inflation to expected long-term real returns, and reflecting expected volatility and correlation. The target allocation and best estimate of geometric real rate of return for each major asset class are summarized in the following table:

    Asset Class

    Target %

    Long-Term Expected Real Rate of Return (Geometric)

    U.S. Equities



    Global Equiuties



    Int'l Equities- Developed Markets



    Int'l Equities- Emerging Markets



    Investment- Grade Bonds



    Strategic Credit



    Direct Lending



    Distressed Debt



    REIT Equities



    Master Limited Partnerships (MLPs)



    Private Real Estate Partnerships



    Private Equity



    Hedge Funds



    Cash Equivalents



    * Geometric real rates of return equal the expected return minus the assumed inflation rate of 2.6% per Cliffwater's 2022 capital market assumptions

  • Other post-employment benefits (OPEB) are the benefits that an employee will begin to receive at the start of retirement. Victoria County participates in the retiree Group Term Life (GTL) program with TCDRS and provides retirees post-employment health care benefits by subsidizing a portion of the premium costs. 

    More detailed information can be found in the most recent Victoria County CAFR on Pg. 58. 

For more information on TCDRS, please visit their website

For more details on state and local pensions plans in Texas, please visit the Public Pension Search Tool on the State Comptroller website.