transparency

DART Employees' Defined Benefit Retirement Plan & Trust

Overview

Contact Information:
PO Box 660163
Dallas, TX 75266
http://dart.org
Phone: (214) 749-3278
Fax: None Reported

Classification: 810
Year Created:
Fiscal Year-End Month: 9

Total Members : 1,090

  Active Members: 52
  Inactive Members : 113
  Total Annuitants: 925
  (Effective Date: 9/30/2021)

Financials

(Effective Date: 9/30/2021)

Total Net Assets: $218,962,000

Total Assets : $220,595,000
Total Liabilities : $1,633,000
Total Additions : $46,132,000
Employer Contributions:
$10,000,000
21.68%
Employee Contributions:
$0
0.00%
Other Contributions:
$0
0.00%
Investment Income:
$36,132,000
78.32%
Other Income:
$0
0.00%

Total Deductions  : $25,474,000
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$24,308,000
95.42%
Administrative Expenses:
$109,000
0.43%
Investment Expenses:
$1,057,000
4.15%
Other Expenses:
$0
0.00%
Total Contribution Rate: 49.29%
(Effective Date: 10/1/2019)
Employer: 0.02%
Employee: 49.31%

Historical Investment Returns

(Report Date: 9/30/2021)
—  Assumed Rate of Return 6.75%
  • 1-Year Return: 17.63%
  • 3-Year Return: 9.89%
  • 10-Year Return: 8.92%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.75%

Actuarial

(Effective Date: 10/1/2019)
Actuarial Value of Assets : $185,583,660
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: $190,481,840
Actuarial Assumption Details

Actuarial Funded Ratio : 80.50%

Market Funded Ratio: 78.43%

Amortization Period (Yrs) : 12.3
Unfunded Liability : $46,127,290
Unfunded Liability per Member: $42,319

Benefit Tier Details

Eligible Members:
Participants of previous plans as of 9/30/1995
Vesting:
10 YCS
Age/YCS:
60 years
Benefit Formula:
Years of Credited Service before 10/01/1983 x 2.00% x Final Average Salary + Years of Credited Service after 10/01/1983 x 1.50% x Final Average Salary
Final Average Salary:
Highest 3 years
Automatic COLA:
100% of CPI as of 9/30, max 5%
Benefit Tier Options:
PLOP, monthly benefit reduced 20% and a partial payment actuarially equivalent to 20% of monthly payment paid as lump sum.
Social Security:
Yes

Investment Policy Details

Effective Date: 9/30/2016

Asset Class:
Real Estate
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
10%
Asset Class:
Equities
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
49%
Asset Class:
Cash
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
1%
Asset Class:
Fixed Income
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
40%