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Dallas Police & Fire Pension System-Supplemental

Overview

Contact Information:
4100 Harry Hines Blvd
Ste 100
Dallas, TX 75219
http://www.dpfp.org
Phone: (214) 638-3863
Fax: (214) 638-6403

Classification: Muni
Year Created:
Fiscal Year-End Month: 12

Total Members : 198

  Active Members: 147
  Inactive Members : 1
  Total Annuitants: 50
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $18,660,711

Total Assets : $18,698,812
Total Liabilities : $38,101
Total Additions : $5,187,294
Employer Contributions:
$2,098,588
40.46%
Employee Contributions:
$227,893
4.39%
Other Contributions:
$0
0.00%
Investment Income:
$2,857,905
55.09%
Other Income:
$2,908
0.06%

Total Deductions  : $2,900,767
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$2,749,573
94.79%
Administrative Expenses:
$55,359
1.91%
Investment Expenses:
$95,835
3.30%
Other Expenses:
$0
0.00%
Total Contribution Rate: 165.61%
(Effective Date: 1/1/2022)
Employer: 13.93%
Employee: 179.54%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 6.50%
  • 1-Year Return: 5.00%
  • 3-Year Return: 6.00%
  • 10-Year Return: 2.90%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.50%

Actuarial

Note: Reported amortization period is based on an open amortization funding policy.
(Effective Date: 1/1/2022)
Actuarial Value of Assets : $18,660,711
Actuaries often select an asset valuation method that smooth the effects of short‐term volatility in the market value of assets. The actuarial value of assets is intended to give fund managers a more accurate picture of the fund’s ability to cover its liabilities.
Market Value of Assets: $18,660,711
Actuarial Assumption Details

Actuarial Funded Ratio : 45.66%

Market Funded Ratio: 45.66%

Amortization Period (Yrs) : 18
Unfunded Liability : $22,207,356
Unfunded Liability per Member: $112,158

Benefit Tier Details

Eligible Members:
Group B members who hold a permanent rank above the highest civil service rank that can be held
Vesting:
5 YCS
Age/YCS:
50/5 (32 YCS Max)
Benefit Formula:
(Group B Benefit) - (Benefit that would be paid under combined plan if computation pay included supplemental computation pay)
Final Average Salary:
N/A
Automatic COLA:
None
Benefit Tier Options:
DROP, 10 yr max eff. 1/1/18. No int while in Active DROP. Upon retirement, balances as of 9/1/17 will earn interest over the annuity period based on the members life exp upon retirement, based on Treasury-based int rate determined by the DPFPS board. No COLA. Retiree DROP - annuity based on life expectancy; interest based on Treasury-based rate to be determined by DPFPS board.
Social Security:
No

Investment Policy Details

Effective Date: 3/11/2021

Asset Class:
Real Estate
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
10%
Asset Class:
Equities
Minimum Allocation:
25%
Maximum Allocation:
60%
Target Allocation:
50%
Asset Class:
Alternative Investments
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
5%
Asset Class:
Fixed Income
Minimum Allocation:
11%
Maximum Allocation:
50%
Target Allocation:
35%