09/16/25 Texas Municipal Retirement System
- City of Runaway Bay
- Oct 13
- 2 min read
Updated: Oct 21
At the September 16th Council meeting, the Runaway Bay City Council approved Ordinance No. 638, updating our participation in the Texas Municipal Retirement System (TMRS) - a statewide retirement program designed to provide long-term financial security for municipal employees.
This may sound like a lot of government talk, but here’s what it really means for our team - and for you as a resident.
What’s Changing
Employee contribution: 7% of pay (the required percentage)
City match at retirement: 2:1 - for every $1 an employee contributes, the City contributes $2 toward the employee’s total retirement balance (Effective January 1, 2026)
TMRS surplus: No extra cost to taxpayers
In short: our employees get a stronger retirement benefit - without costing residents a dime. That’s a win-win.
What Does This Look Like in Real Life?
Meet Jane Doe, our imaginary city employee.
Jane works full-time (40 hours per week) at minimum wage for 10 years.
Under the new plan (not including annual TMRS investment growth), her retirement savings would look something like this:
Jane contributes: $10,560
City adds (2:1 match): $21,120
Total at retirement: $31,680 (plus interest)
That’s a solid foundation for a brighter, more secure retirement - and it highlights the City’s commitment to supporting our hardworking staff who keep Runaway Bay running every single day.
Why It Matters
Investing in our employees’ future helps Runaway Bay stay competitive in hiring and retaining great people. It’s part of building a strong, stable team - one that’s proud to serve the residents who make this community home.
And best of all? It’s fiscally responsible. This improvement is covered by existing TMRS funds, meaning no new cost to taxpayers.
In Closing
We’re proud to continue strengthening the City’s operations and benefits in ways that make sense for both our staff and our citizens.
If you have questions about this update or any other City project, use our online contact form to let us know what topics you’d like us to cover in future updates. We’re always here to keep you informed - and maybe even make city business a little more fun to read about.
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