transparency

Harris County Hospital District Pension Plan

Overview

Contact Information:
4800 Fournace Place, 6W
Bellaire, TX 77401
http://www.harrishealth.org
Phone: (346) 426-0183
Fax: None Reported

Classification: 810
Year Created:
Fiscal Year-End Month: 12

Total Members : 6,570

  Active Members: 1,860
  Inactive Members : 1,315
  Total Annuitants: 3,395
  (Effective Date: 1/1/2022)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $966,372,944

Total Assets : $977,704,280
Total Liabilities : $11,331,336
Total Additions : $145,725,192
Employer Contributions:
$57,000,000
39.11%
Employee Contributions:
$0
0.00%
Other Contributions:
$0
0.00%
Investment Income:
$88,725,192
60.89%
Other Income:
$0
0.00%

Total Deductions  : $55,989,475
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$53,264,444
95.13%
Administrative Expenses:
$2,725,031
4.87%
Investment Expenses:
$0
0.00%
Other Expenses:
$0
0.00%
Total Contribution Rate: 25.82%
(Effective Date: 1/1/2022)
Employer: 0.00%
Employee: 25.82%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 5.75%
  • 1-Year Return: 9.38%
  • 3-Year Return: 15.00%
  • 10-Year Return: 10.49%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 5.75%

Actuarial

Note: Amortization period is calculated by the PRB.
(Effective Date: 1/1/2022)
Actuarial Value of Assets : $966,372,944
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: $878,504,524
Actuarial Assumption Details

Actuarial Funded Ratio : 76.14%

Market Funded Ratio: 83.75%

Amortization Period (Yrs) : 14.3
Unfunded Liability : $275,330,622
Unfunded Liability per Member: $41,907

Benefit Tier Details

Eligible Members:
All
Vesting:
5 YCS
Age/YCS:
65/5
Benefit Formula:
Years of Credited Service x 1.50% x Final Average Salary
Final Average Salary:
Highest 5 years within final 10 years
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
No

Investment Policy Details

Effective Date: 5/16/2018

Asset Class:
Equities
Minimum Allocation:
36%
Maximum Allocation:
74%
Target Allocation:
55%
Asset Class:
Real Estate
Minimum Allocation:
3%
Maximum Allocation:
7%
Target Allocation:
5%
Asset Class:
Alternative Investments
Minimum Allocation:
3%
Maximum Allocation:
7%
Target Allocation:
5%
Asset Class:
Fixed Income
Minimum Allocation:
23%
Maximum Allocation:
47%
Target Allocation:
35%