The Bosque Central Appraisal District is committed to public pension transparency.
BCAD is a member of the Texas County and District Retirement System (TCDRS). Since 1967, TCDRS has provided retirement, disability, and survivor benefits on behalf of counties and districts across the state. Each employer customizes the benefit plan for their employees and retirees.
The information below is intended to assist taxpayers in learning more about the District’s pension efforts.
Additional info on the Public Pension Guidelines can be found at Transparency Stars – Public Pensions (texas.gov) Additional information on the Comptroller’s Transparency Stars Program can be found at Transparency Stars (texas.gov)
Benefits & Eligibility
The Bosque Central Appraisal District offers employees a retirement plan through the Texas County & District Retirement System (TCDRS). Every time an employee gets a paycheck, a percentage is deposited into their TCDRS account. That money is tax-deferred.
Money in a TCDRS account grows at an annual compound interest rate of 7%. TCDRS credits this interest to employee accounts each month based on the account balance as of January 1.
Basic Plan Options
Pension plan offered by the Bosque Central Appraisal District
| Employee Deposit Rate | 7.00% |
|---|---|
| Employer Matching | 250.00% |
Retirement Eligibility Criteria
| Vested at Age 60 | 8 years of service |
|---|---|
| Rule of 75 | Total age + service equals 75 |
| At Any Age | 20 years of service |
Optional Benefits
| Partial Lump Sum | No |
|---|---|
| Group Term Life | Active plus retirees |
Percentage of Salary Replaced at Retirement
Pensions Summary
Plan Assets & Liabilities
Assets include the funds available to pay pension benefits. Liabilities are the estimated future costs of those benefits.
| Actuarial Value of Assets (AVA) | $2,386,939 |
| Actuarial Accrued Liability (AAL) | $2,193,081 |
| Unfunded Actuarial Accrued Liability (UAAL) | $193,858 |
| Funded Ratio (AVA/AAL) | 91.90% |
| Remaining Amortization Period | 14.9 years |
| Assumed Rate of Return | 7.50% |
| Valuation Payroll | $475,448 |
| Unfunded Actuarial Accrued Liability (UAAL) as a Percent of Covered Payroll | 4.22% |
Funded Ratio
A pension’s funded ratio is the percentage of assets compared to its liabilities. It’s a snapshot of the fund’s financial health.
Annualized Returns
2024 TCDRS investment returns by asset class — Returns are not available for asset classes/subclasses or related benchmarks if they have less than one full year’s performance.
| Market Value | Return | 3 Year | 5 Year | 10 Year | 20 Year | 30 Year | Inception Date | |
|---|---|---|---|---|---|---|---|---|
| Total Fund | $50,416,800,783 | 10.26% | 4.88% | 9.24% | 8.10% | 7.21% | 7.99% | 1/1/1981 |
| Total Equities | $12,184,687,912 | 16.78% | 5.04% | 9.21% | 8.88% | 7.66% | – | 1/1/1997 |
| Hedge Funds | $3,481,543,549 | 12.72% | 6.87% | 7.83% | 5.56% | – | – | 1/1/2006 |
| Total Credit Investments | $12,763,745,913 | 10.42% | 8.65% | 8.97% | 8.33% | 8.10% | – | 4/1/1999 |
| Private Equity | $13,498,899,944 | 5.86% | 1.95% | 14.38% | 14.56% | – | – | 5/1/2006 |
| Real Assets | $4,940,836,063 | 7.14% | 3.37% | 5.92% | 4.20% | 6.38% | – | 10/1/1998 |
| Investment -Grade Bonds | $998,045,238 | 1.86% | -1.75% | 0.52% | 2.05% | 3.52% | 5.34% | 1/1/1981 |
| Cash | $2,549,042,164 | 5.17% | 3.85% | 2.40% | 1.81% | – | – | 10/1/2006 |
Source: TCDRS
Plan Health
TCDRS provides an actuarial valuation of the District’s retirement plan each year. The valuation provides a snapshot of the plan’s financial condition and results are used to determine the District’s required contribution rate.
Actuarial Valuation
An actuarial valuation is an estimate of the plan’s financial position.
| Plan Year | Actuarial Accrued Liability | Actuarial Value of Assets | Unfunded/ (Overfunded) Actuarial Accrued Liability | Funded Ratio | Valuation Year |
|---|---|---|---|---|---|
| 2026 | $2,386,939 | $2,193,081 | $193,858 | 91.9% | 2024 |
| 2025 | $2,266,211 | $1,983,972 | $282,239 | 87.5% | 2023 |
| 2024 | $2,165,960 | $1,887,392 | $278,568 | 87.1% | 2022 |
| 2023 | $1,917,789 | $1,831,777 | $86,012 | 95.5% | 2021 |
| 2022 | $1,877,762 | $1,779,245 | $98,517 | 94.8% | 2020 |
| 2021 | $1,716,623 | $1,662,006 | $54,617 | 96.8% | 2019 |
| 2020 | $1,652,870 | $1,595,402 | $57,468 | 96.5% | 2018 |
Time Trend: Actuarial Value of Assets versus Actuarial Accrued Liability
Actuarially Determined Contribution Rate versus the Actual Total Contribution Rate
Reasons for Rate Change
| Reasons for Rate Change | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|
| Beginning Rate | 12.70% | 19.58% | 17.94% | 14.67% |
| Plan Changes Adopted | 7.80% | 0.00% | 0.00% | N/A |
| Investment Return | -0.52% | 0.27% | -0.04% | -0.11% |
| Elected Rate/Lump Sum | 0.00% | 0.00% | -2.36% | 0.00% |
| Demographic/Other Changes | 0.15% | -1.91% | -0.78% | 0.15% |
| Assumptions/Methods | -0.55% | 0.00% | -0.09% | 0.00% |
| Ending Rate | 19.58% | 17.94% | 14.67% | 14.71% |
| Valuation Year | 2021 | 2022 | 2023 | 2024 |
| Funded Ratio | 90.6% | 87.1% | 91.7% | 91.9% |
Important Documents & Data
The documents below provide additional information on our pension program:
Plan Assessments
- 2026 Plan Assessment
- 2025 Revised Plan Assessment
- 2025 Plan Assessment
- 2024 Plan Assessment
- 2023 Plan Assessment
- 2022 Plan Assessment
- 2021 Plan Assessment
- 2020 Plan Assessment
Summary Valuations
- 2024 Summary Valuation
- 2023 Summary Valuation
- 2022 Summary Valuation
- 2021 Summary Valuation
- 2020 Summary Valuation
- 2019 Summary Valuation
TCDRS GASB 68 Report
Annual Financial Reports
- 2024 Financial Audit
- 2023 Financial Audit
- 2022 Financial Audit
- 2021 Financial Audit
- 2020 Financial Audit
Miscellaneous Documents & Data
- 2024 Fiduciary Net Position
- Percentage of Salary Replaced at Retirement
- Plan Assets & Liabilities
- Funded Ratios from 2020+
- Annualized Returns
- Actuarial Valuation from 2020+
- Actuarial Value of Assets versus Actuarial Accrued Liability from 2020+
- Actuarially Determined Contribution Rate versus the Actual Total Contribution Rate from 2020+
- Reasons for Rate Change from 2022+
Additional documents, including our annual reports, budgets, reappraisal plans, certification data, and energy usage can be found on our public information page.
Any documents not listed on our website can be obtained by filing a public information request.
Texas Public Pensions
More information on pensions offered throughout Texas can be found using the Texas Comptroller of Public Accounts public pension search tool.
