Austin / Texas / United States
The Employees Retirement System of Texas was established in 1946 to provide Texas state employees with benefits comparable to the private sector and worthy of public servants. ERS has provided 51,859 state employees with retirement annuities, $4.27 billion in retirement benefits, earned $630.4 million in interest and dividends in 1997 and assisted more than 45,000 state employees with long-term savings of more than $500 million in the Deferred Compensation Program. Employees State Retirement System of Texas offers five retirement plans: employees, elected officials, law enforcement and two judicial. It manages a $21.3 billion trust fund. The ERS is 53rd-largest pension fund in the United States, the 33rd-largest public pension fund in the U.S. and the 103rd largest pension fund in the world.
