Who We Serve
The Texas Employees Group Benefits Program (GBP) provides coverage for health, life, dental, Voluntary Accidental Death & Dismemberment (AD&D) and, through the Texas Income Protection Plan (TIPP), short-term and long-term disability.
GBP health insurance plans cover about one of every 52 Texans. Plan participants share health costs through dependent premium contributions, copays, coinsurance, prescription deductibles and other means. In addition to designing health plans in which the state and participants share costs, ERS strives to keep administrative expenses low. In HealthSelectSM of Texas (HealthSelect), by far the largest GBP health plan, only 3% of overall expenditures go toward administration – far less than the 12% average for large, private health plans.
- 541,584 participants (228,459 employees, 108,722 retirees, 203,291 dependents and 1,112 COBRA).
- The self-funded plans – HealthSelectSM of Texas, HealthSelectSM Prescription Drug and HealthSelectSM Medicare Rx – paid about $2.75 billion in claims.
- Participants in those plans paid $456 million in out-of-pocket expenses, including copays, coinsurance and deductibles.
Employees Retirement System of Texas plans provide retirement benefits for state employees and elected officials (ERS fund), law enforcement and custodial officers (LECOSRF), and judges (JRS 1 and JRS 2). They are designed to provide a reasonable and stable source of income for state employees during retirement at a low cost to the state.
- $25.2 billion trust fund
- 0.49% gross (0.44% net of fees)
one-year rate-of-return on investments
- 142,982 contributing members
(ERS – 142,409; LECOSRF – 38,526*; JRS 1 – 10; JRS 2 – 563)
- 101,273 non-contributing members
(ERS – 101,122; LECOSRF – 12,962*; JRS 1 – 3; JRS 2 – 148)
- 100,716 retirees and beneficiaries
(ERS – 100,003; LECOSRF – 10,845*; JRS 1 – 391; JRS 2 – 322)
- $2.1 billion in retirement payments annually (for all plans)
- 76.3% ERS Trust funded ratio
- The 84th Texas Legislature increased the total state and employer contribution to 10% from 8% and the employee contribution to 9.5% from 6.9%. Contributing employees received a 2.5% salary increase to offset the retirement contribution increase
- The legislature also eliminated the 90-day waiting period to participate in the retirement system for state agency employees hired on or after September 1, 2015
*LECOSRF members included in ERS total.
Tax-deferred supplemental 401(k) / 457 retirement program with $2.4 billion in total assets.
401(k) - $1.84 billion
- 165,513 accounts
- 82,851 accounts contributing
401(k) Roth - $9.0 million
- 2,614 Roth accounts
- 1,936 Roth accounts contributing
457 - $603.7 million
- 26,159 accounts
- 16,685 accounts contributing
457 Roth - $8.1 million
- 2,320 Roth accounts
- 1,649 Roth accounts contributing
Flexible spending accounts program, authorized and regulated by the Internal Revenue Service (IRS) under Section 125, for health and dependent care expense.
- $80.5 million contributed to TexFlex accounts by state employees
- 52,835 health and dependent care accounts
- $441.5 million in insurance premiums redirected
- $118.3 million* in tax savings for participants (FICA and FIT)
- $40 million* in tax savings for State (FICA)
FICA: Federal Insurance Contributions Act tax
FIT: Federal Income Tax
These numbers are for Fiscal Year 2015.