A Report on the Audit of the Employees Retirement System’s Pension Schedules
February 2016
Report Number 16-013
Overall Conclusion
Based on our audit work, the State Auditor's Office concluded that the Employees Retirement System (System) presented the following schedules fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America:
- Schedules of Employer Allocation as of August 31, 2013.
- Schedule of Net Pension Liability as of September 1, 2013.
- Schedules of Employer Allocation as of August 31, 2014.
- Schedules of the Collective Pension Amounts as of August 31, 2014.
- Schedules of Employer Allocation as of August 31, 2015.
- Schedules of the Collective Pension Amounts as of August 31, 2015.
The State Auditor's Office conducted audit work on the above schedules based on auditing guidance from the American Institute of Certified Public Accountants (AICPA) regarding Governmental Accounting Standards Board requirements.
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 all of the schedules and our audit reports on its Web site at www.ers.state.tx.us.
We also issued reports 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.