A Report on the Audit of the Employees Retirement System's Fiscal Year 2014 Pension Schedules
June 2015
Report Number 15-034
Overall Conclusion
In our audit report dated May 29, 2015, we concluded that the Schedules of Employer Allocations and the Schedules of the Collective Pension Amounts as of August 31, 2014, for the Employees Retirement System (System) are presented fairly, in all material respects in accordance with accounting principles generally accepted in the United States of America. The System administers the following defined benefit pension plans included in our audit: Employees Retirement System Plan, Law Enforcement and Custodial Officer Supplemental Retirement Plan, and Judicial Retirement System of Texas Plan II. The System intends to post the schedules and our audit report on its Web site at www.ers.state.tx.us.
We also issued a report on internal control over financial reporting of the schedules and on compliance and other matters as required by auditing standards. Our procedures did not identify any material weaknesses in internal control over financial reporting of the schedules or any noncompliance with laws or regulations that materially affected the schedules. In addition, the major internal controls that we tested for the purpose of forming our opinions on the schedules were operating effectively.
Our procedures were not intended to provide an opinion on internal control over financial reporting of the schedules or to provide an opinion on compliance with laws and regulations. Accordingly, we do not express an opinion on the effectiveness of the System's internal control over financial reporting of the schedules or on compliance with laws and regulations.
As required by auditing standards, we will also communicate to the System's Board of Trustees certain matters related to the conduct of this audit.