transparency

Greenville Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 1049
Greenville, TX 75403
http://www.ci.greenville.tx.us
Phone: (903) 457-2940
Fax: None Reported

Classification: TLFFRA
Year Created: 1941
Fiscal Year-End Month: 12

Total Members : 124

  Active Members: 56
  Inactive Members : 1
  Total Annuitants: 67
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $16,181,864

Total Assets : $16,360,803
Total Liabilities : $178,939
Total Additions : $3,629,983
Employer Contributions:
$1,071,459
29.52%
Employee Contributions:
$819,942
22.59%
Other Contributions:
$0
0.00%
Investment Income:
$1,738,582
47.90%
Other Income:
$0
0.00%

Total Deductions  : $2,544,170
Benefit Payments:
Benefit Tier Details
$14,836
0.58%
Withdrawals:
$2,383,526
93.69%
Administrative Expenses:
$27,759
1.09%
Investment Expenses:
$118,049
4.64%
Other Expenses:
$0
0.00%
Total Contribution Rate: 21.30%
(Effective Date: 12/31/2020)
Employer: 16.30%
Employee: 37.60%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.50%
  • 1-Year Return: 10.78%
  • 3-Year Return: 13.59%
  • 10-Year Return: 8.16%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.50%

Actuarial

(Effective Date: 12/31/2020)
Actuarial Value of Assets : $15,098,320
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: $14,545,855
Actuarial Assumption Details

Actuarial Funded Ratio : 42.64%

Market Funded Ratio: 44.26%

Amortization Period (Yrs) : 36.6
Unfunded Liability : $19,565,009
Unfunded Liability per Member: $157,782

Benefit Tier Details

Eligible Members:
All
Vesting:
20 YCS
Age/YCS:
50/20
Benefit Formula:
Years of Credited Service <= 20 x 3.15% x Final Average Salary + $63 x YCS > 20
Final Average Salary:
Highest 36 months
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 2 yr. max. Employee contributions credited, no interest.
Social Security:
No

Investment Policy Details

Effective Date: 6/22/2017

Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
40%
Target Allocation:
20%
Asset Class:
Fixed Income
Minimum Allocation:
20%
Maximum Allocation:
60%
Target Allocation:
30%
Asset Class:
Equities
Minimum Allocation:
30%
Maximum Allocation:
70%
Target Allocation:
50%