transparency

El Paso Firemen's Pension Fund

Overview

Contact Information:
909 East San Antonio Avenue
El Paso, TX 79901
http://www.elpasofireandpolice.org
Phone: (915) 771-8111
Fax: (915) 779-6693

Classification: Muni
Year Created: 1920
Fiscal Year-End Month: 12

Total Members : 1,684

  Active Members: 889
  Inactive Members : 4
  Total Annuitants: 791
  (Effective Date: 1/1/2022)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $795,068,512

Total Assets : $845,744,553
Total Liabilities : $50,676,041
Total Additions : $141,318,706
Employer Contributions:
$14,408,451
10.20%
Employee Contributions:
$13,157,299
9.31%
Other Contributions:
$0
0.00%
Investment Income:
$113,752,956
80.49%
Other Income:
$0
0.00%

Total Deductions  : $48,781,460
Benefit Payments:
Benefit Tier Details
$2,610,046
5.35%
Withdrawals:
$42,768,663
87.67%
Administrative Expenses:
$891,464
1.83%
Investment Expenses:
$2,427,976
4.98%
Other Expenses:
$83,311
0.17%
Total Contribution Rate: 18.70%
(Effective Date: 1/1/2022)
Employer: 18.00%
Employee: 36.70%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.75%
  • 1-Year Return: 15.99%
  • 3-Year Return: 16.01%
  • 10-Year Return: 9.77%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.75%

Actuarial

(Effective Date: 1/1/2022)
Actuarial Value of Assets : $795,068,511
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: $720,058,987
Actuarial Assumption Details

Actuarial Funded Ratio : 82.60%

Market Funded Ratio: 91.20%

Amortization Period (Yrs) : 16.6
Unfunded Liability : $151,696,510
Unfunded Liability per Member: $90,081

Benefit Tier Details

Tier:
Base Plan
Eligible Members:
Hired before 6/30/2007
Vesting:
10 YCS
Age/YCS:
45/20
Benefit Formula:
Years of Credited Service x 2.75% x Final Average Salary
Final Average Salary:
Highest Consecutive 36 Months
Automatic COLA:
3% compound (begins at age 60, or 5 years post-retirement)
Benefit Tier Options:
Forward DROP eligible 45/20, no min months, still contributes to fund, no interest
Social Security:
No
Tier:
Tier 2
Eligible Members:
Hired on/after 6/30/2007
Vesting:
10 YCS
Age/YCS:
45/20
Benefit Formula:
Years of Credited Service x 2.5% x Final Average Salary
Final Average Salary:
Highest Consecutive 36 Months
Automatic COLA:
None
Benefit Tier Options:
Forward DROP eligible 45/20, no min months, still contributes to fund, no interest
Social Security:
No

Investment Policy Details

Effective Date: 12/21/2022

Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
0%
Asset Class:
Alternative Investments
Minimum Allocation:
5%
Maximum Allocation:
20%
Target Allocation:
15%
Asset Class:
Real Assets
Minimum Allocation:
5%
Maximum Allocation:
15%
Target Allocation:
10%
Asset Class:
Fixed Income
Minimum Allocation:
15%
Maximum Allocation:
30%
Target Allocation:
20%
Asset Class:
Equities
Minimum Allocation:
45%
Maximum Allocation:
65%
Target Allocation:
55%