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TMRS Booth Summer Fellowship
We are pleased to announce the TMRS Booth Summer Fellowship, named in honor of David Booth, Founder and Chairman of Dimensional Fund Advisors. Dimensional is headquartered in Austin and is a global investment manager with more than 1,600 employees and $700 billion in assets under management. Mr. Booth is a trailblazer in the financial world, having spent his career applying groundbreaking financial theory and research to the practical world of asset management. The University of Chicago Booth School of Business is named in his honor.
The Booth Summer Fellowship introduces the next generation of investment leaders to the global institutional investment community through exposure to TMRS’ investment processes, culture of excellence, and network of exemplary financial sponsors, management teams, consultants, and research partners. The program will advance the intellectual and professional development of each Booth Fellow through mentorship and rigorous, relevant, and engaging project-based assignments. Under the guidance of a senior team member with compatible interests, Booth Fellows perform cooperative diligence on active transactions, conduct research into multidisciplinary industry topics, and assist in advancing investment processes. Booth Fellows will also participate in a wide variety of professional development activities.
We are excited to welcome Kash Molwani, our inaugural TMRS Booth Summer Fellow. Mr. Molwani served as a Vice President in the Private Equity division at Blackstone, the world’s largest alternative asset manager with $1 trillion in AUM. Mr. Molwani was involved in the execution of a number of Blackstone investments, including Hotwire Communications, Northern Indiana Public Service Company (NIPSCO), and FirstEnergy. Before joining Blackstone, Mr. Molwani was an Analyst working in the Mergers & Acquisitions department of Credit Suisse’s Investment Banking division.
Mr. Molwani is an MBA candidate at Harvard Business School and has received a BBA in Finance from Georgia State University, where he received a full ride, graduated summa cum laude, and was elected to Beta Gamma Sigma. Mr. Molwani was the national recipient of the Schwarzman Scholarship, a one-year Master’s program offering a fully funded Economics and Public Policy experience among international scholars at Tsinghua University in Beijing, China. He was also selected as a National Finalist for the Marshall Scholarship, a fully funded two to three year advanced degree program for candidates showcasing potential to advance UK-US ambassadorial relations. Mr. Molwani has been passionate about volunteer efforts at organizations like Common Denominator (middle school tutoring), City Harvest (food rescue and distribution), and Harlem Grown (planting urban gardens), and has helped them raise over $150k to advance their non-profit goals across New York City.
Portfolio Director Monica Huffer Receives 2024 Outstanding Woman in Texas Government Award
On June 12, Monica Huffer was honored as one of five 2024 Outstanding Women in Texas Government by Governor Abbott and the Governor’s Commission for Women.
Monica not only excels in her role as an investor but also dedicates countless hours and resources to organizations focused on serving those in need. She is an active member of the Junior League of Austin, a member and financial sponsor of Compassion International, supports the International Justice Mission, and serves on the grant finance committee and grant review board of Impact Austin, a women's collective giving organization, funding Central Texas nonprofits.
Executive Director David Wescoe said, “Monica's academic career, her rapid professional advancement and achievement, and her numerous community activities…make her a deserving recipient of the 2024 Rising Star award. And if the past is indeed prologue, Monica's potential for future success is unlimited.”
“It is incredibly rare for an investor to shine brightly on all elements of humility, character, dedication and intellectual curiosity - Monica is that rare talent. Her extraordinary commitment to TMRS members helps our entire team become better world-class investors every day,” notes Chief Investment Officer Yup Kim.
Please join us in celebrating this remarkable leader who will surely make a meaningful difference in the lives of Texans in the years to come. For more details about the awards, read the official press release.
Summer Hours
During June, July, and August, the TMRS office will close at noon on Friday. Weekly hours of operation during these three months will be:
- Monday to Thursday: 8:00 AM – 5:00 PM
- Friday: 8:00 AM – 12:00 PM
MyTMRS remains accessible 24/7.
2025 City Contribution Rate Letters Are Available
A contribution rate letter that contains detailed information on your city's 2025 contribution rate is now available to download.
San Elizario Joins TMRS
On June 1, the City of San Elizario joined TMRS, becoming the 937th participating city.
San Elizario is located in El Paso County, along the Rio Grande River. The first settlements in the area date back to the 18th century. Some of these can be seen in San Elizario’s historical district, which forms part of the Camino Real, a 300-year-old trail that runs from Mexico City to New Mexico.
We are excited to welcome San Elizario to TMRS.
Board Approves 2023 Actuarial Valuation Report and 2025 City Contribution Rates
At its May 23 meeting, the Board of Trustees approved TMRS’ 2023 Actuarial Valuation Report and the 2025 contribution rates for participating cities. Cities can view their 2025 contribution rate in the Valuation Report and detailed contribution rate letters for each participating city will be posted to tmrs.com in early June.
Portfolio Director Ngoc Can Recognized as a Leader in Private Equity Investing
Portfolio Director Ngoc Can has been honored with two prestigious investment industry awards. Private Equity International named Ngoc one of the “40 under 40: Future Leaders of Private Equity” and Institutional Investor recognized her with their “2024 AlphaEdge: Alpha Generation - Private Equity Investing” award.
PEI’s “40 under 40: Future Leaders of Private Equity” award highlights “the rising stars creating a name for themselves in private equity.” Institutional Investor’s “AlphaEdge” awards recognize “distinguished leaders within the allocator community … for their outstanding contributions to portfolio construction ... [and] visionary approaches and strategic acumen [that] have significantly influenced the landscape of portfolio construction, setting new standards of excellence.”
Chief Investment Officer, Yup Kim, put it well when he said, “These two awards are extraordinary individual accomplishments for Ngoc and a testament to her talent, vision, and leadership. This recognition also reflects the collective effort of our entire investment team, who all have played critical roles in our success, and the collaborative environment at TMRS, where teamwork and shared vision are central to our investment strategy.”
TMRS Honored by Government Finance Officers Association
In April, for the 18th consecutive year, TMRS earned the Government Finance Officers Association’s distinguished Award for Outstanding Achievement in Popular Annual Financial Reporting, the highest form of recognition in governmental accounting and financial reporting.
Congratulations to our outstanding accounting team on this accomplishment!
Thank You Johnny and Jesús
With Governor Abbott’s appointments on April 24, Johnny Huizar and Jesús Garza’s terms on the TMRS Board of Trustees came to an end. Both served TMRS with distinction.
Mr. Huizar, the City manager of Pleasanton, was appointed to the Board in February 2020 and served as Board Chair. He has served as Vice Chair of the Board, Chair and Vice Chair of the Budget and Compensation Committee, and Vice Chair of the Audit Committee.
Mr. Garza, the City manager of Victoria, was appointed to the Board in February 2018. He has served as Chair and Vice Chair of the Board, Vice Chair of the Audit Committee, Chair and Vice Chair of the Stakeholder Advisory Committee, Chair and Vice Chair of the former Advisory Committee on Benefit Design, Vice Chair of the former Legislative Committee, and Chair of the former Technology Committee.
On behalf of their Board colleagues, TMRS staff, and TMRS’ 220,000 Members, we say “Thank you for your service!”
Governor Abbott Appoints Three TMRS Trustees
On April 24, Governor Greg Abbott appointed three new Trustees to the TMRS Board. Click here to read more.
The three fill a vacancy that was created when Trustee Anali Alanis joined the TMRS staff (she now serves as Chief Service Officer) and replace holdover Trustees Johnny Huizar and Jesús Garza whose terms expired in February 2023.
The new Trustees are:
Tommy Gonzalez is the city manager of Midland. Gonzalez previously served as El Paso city manager from 2014 to 2023, where he earned the Baldrige Foundation E. David Spong Lifetime Leadership Award in 2022. He helped El Paso earn various awards including the All-America City Award and Texas Award for Performance Excellence. Additionally, as Irving's city manager from 2006 to 2013, he helped the city earn the Malcolm Baldrige National Quality Award and Texas Award for Performance Excellence. Gonzalez holds leadership roles on several boards and has received recognition for economic and public sector excellence, is a black belt in Lean Six Sigma and served in the U.S. Army and retired as a Lieutenant Colonel. Gonzalez received a Bachelor of Science from Eastern New Mexico University and Master of Public Administration from Texas Tech University.
Tricia Mirabelle is a commander with the Pflugerville Police Department. She is president and board member of Blue Guardian of Pflugerville, a volunteer law enforcement liaison for ASIS International, and member of the International Association of Chiefs of Police. Additionally, she is a Women in Leadership subcommittee member for the Texas Police Chiefs Association. Mirabelle received a Bachelor of Science in Criminal Justice and Sociology from Texas State University and Master of Science in Leadership and Management in Criminal Justice from Sam Houston State University. Additionally, she will receive her certified public manager designation through Texas State University this summer.
Roy Rodriguez is the city manager of McAllen. He is a member of the Texas City Managers Association (TCMA) and Region 10 president. He is a member of the American Society of Civil Engineers, Rio Grande Drainage Committee, Rio Grande Valley Metropolitan Planning Organization, and South Texas College Public Administration Advisory Council. He is a former director of the Lower Rio Grande Water Committee and former gubernatorial appointee to the Texas Municipal Retirement System Board of Trustees, where he twice held the position of chairman between 2005 and 2018. Additionally, he serves in multiple roles for Our Lady of Perpetual Help Catholic Church. Rodriguez received a Bachelor of Science in Civil Engineering from Texas A&M – Kingsville and Master of Public Administration from The University of Texas Rio Grande Valley.
The City of China Grove Joins TMRS
On April 1, the City of China Grove joined TMRS, becoming the 936th participating city.
China Grove is located in Bexar County, fourteen miles east of San Antonio. The town is named after the abundance of Chinaberry trees planted there in the mid-1800s but is most known for the 1973 hit single “China Grove” by the Doobie Brothers. China Grove is a vital part of the greater San Antonio community, and we are honored to have them join TMRS.