# Texas Municipal League Inter-Government Risk Pool (TMLIRP)

Texas Municipal League Inter-Government Risk Pool (TMLIRP) is an Annuity / Liability / Surplus Fund based in Austin, United States.

## Overview

- **Organization type:** Annuity / Liability / Surplus Fund
- **Headquarters:** Austin, United States
- **Region:** North America
- **Address:** 1821 Rutherford Lane, Austin, Texas 78754, United States
- **Founded:** 1974
- **Assets under management:** Undisclosed
- **Website:** tmlirp.org
- **LinkedIn:** https://www.linkedin.com/company/tmlirp

## Regulatory record

- **Reports private funds:** No

## About

The Texas Municipal League established TMLIRP in 1974 after commercial carriers abandoned the Texas public-entity market, leaving cities and towns without viable liability coverage. Today the pool functions as a member-owned, nonprofit risk-sharing mechanism governed by a Board of Trustees chaired by Bert Lumbreras, with day-to-day management led by Executive Director Jeff Thompson. More than 2,800 Texas municipalities, counties, housing authorities, and special districts participate, making it among the largest public-entity risk pools in the United States by membership count. TMLIRP's investment operation, run by Villegas, splits into two distinct mandates. The General Investment Portfolio funds operating reserves and claim payments with a conservative ladder of investment-grade municipals, US Treasuries, and agency securities, reflecting statutory constraints under Texas Government Code Chapter 2256. The Lifetime Benefits portfolio is structurally unusual — it separately funds workers' compensation lifetime medical obligations for catastrophically injured first responders, requiring actuarially informed asset-liability matching over multi-decade horizons. The pool's home office at 1821 Rutherford Lane is the Texas Municipal Center, a property that itself appears on TMLIRP's balance sheet as a commercial real estate asset. A second headquarters site on East University Avenue in Georgetown is under development. TMLIRP maintains formal ties to the Association of Governmental Risk Pools and the Government Treasurers' Organization of Texas, the latter providing ongoing investment education for its treasury staff. The pool does not operate as a private-sector insurer, does not participate in venture or private equity, and does not manage third-party capital. Its capital base is entirely member-contributed premiums and accumulated surplus. The Liability, Property, and Workers' Compensation coverages operate as separate self-insurance funds, each with its own claim reserve and surplus allocation. What distinguishes TMLIRP structurally from a generic public-entity insurance pool is the dual-portfolio investment framework that legally and functionally separates ordinary claims reserves from the ultra-long-duration medical obligations tied to line-of-duty injuries. That separation forces the investment office to run two separate asset-liability studies, two separate investment policy statements, and two separate risk budgets — an operational burden that commercial carriers in this line rarely replicate, but one that matches the pool's nonprofit, perpetual-life mandate.

## Sectors

- Insurance
- Real Estate
- Fixed Income

## People

- Jeff Thompson — Executive Director
- Bert Lumbreras — Chair of the Board of Trustees
- Tito Villegas — Chief Financial Officer and Chief Investment Officer

## Questions

### Who runs investment decisions at TMLIRP?

Tito Villegas holds the combined CFO and CIO role, making him the named officer responsible for both investment policy and day-to-day portfolio management. The Board of Trustees, chaired by Bert Lumbreras, approves the investment policy statement annually. Executive Director Jeff Thompson oversees the pool's overall operations but does not directly manage investment execution.

### How is TMLIRP's Lifetime Benefits portfolio structured differently from its General Investment Portfolio?

The Lifetime Benefits portfolio funds workers' compensation lifetime medical obligations for catastrophically injured first responders, requiring actuarially informed, multi-decade asset-liability matching. The General Investment Portfolio funds ongoing claim payments and operating reserves with a shorter-duration, highly liquid fixed-income mandate. Each portfolio operates under its own investment policy statement and risk budget.

### How is TMLIRP related to the Texas Municipal League?

The Texas Municipal League established TMLIRP in 1974 as a separate legal entity after commercial carriers withdrew from the Texas public-entity liability market. TML remains the primary industry association affiliate, but the pool operates independently with its own board, management, and financial statements. Membership in the pool is distinct from membership in TML itself.

### What is TMLIRP's known posture on co-investments alongside external GPs?

TMLIRP does not co-invest alongside external general partners. As a governmental risk pool subject to Texas Public Funds Investment Act restrictions, its investment authority is limited to instruments specified in Chapter 2256, which does not authorize private fund commitments or partnership interests outside of authorized public-sector investment pools.

## Related profiles

- [Texas Children's Hospital Foundation](https://altss.com/profile/texas-childrens-hospital-foundation-tchf)
- [Texas Treasury Safekeeping Trust Company - State Water Implementation Fund for Texas (SWIFT)](https://altss.com/profile/texas-treasury-safekeeping-trust-company-state-water-implementation-fund-for-tex)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/texas-municipal-league-inter-government-risk-pool-tmlirp

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology