transparency

Austin Police Retirement System

Overview

Contact Information:
2520 S IH 35 Ste 100
Austin, TX 78704
http://www.ausprs.org
Phone: (512) 416-7672
Fax: (512) 416-7138

Classification: Muni
Year Created: 1979
Fiscal Year-End Month: 12

Total Members : 2,975

  Active Members: 1,673
  Inactive Members : 138
  Total Annuitants: 1,164
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $1,080,733,987

Total Assets : $1,081,908,779
Total Liabilities : $1,174,792
Total Additions : $227,085,271
Employer Contributions:
$35,429,366
15.60%
Employee Contributions:
$25,179,522
11.09%
Other Contributions:
$0
0.00%
Investment Income:
$166,476,383
73.31%
Other Income:
$0
0.00%

Total Deductions  : $84,577,582
Benefit Payments:
Benefit Tier Details
$2,164,394
2.56%
Withdrawals:
$78,042,407
92.27%
Administrative Expenses:
$2,403,855
2.84%
Investment Expenses:
$1,966,926
2.33%
Other Expenses:
$0
0.00%
Total Contribution Rate: 26.71%
(Effective Date: 12/31/2021)
Employer: 15.00%
Employee: 41.71%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.25%
  • 1-Year Return: 17.68%
  • 3-Year Return: 16.68%
  • 10-Year Return: 8.49%
  • 30-Year Return: 8.59%
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.25%

Actuarial

(Effective Date: 12/31/2021)
Actuarial Value of Assets : $1,080,733,988
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: $977,909,434
Actuarial Assumption Details

Actuarial Funded Ratio : 60.24%

Market Funded Ratio: 66.57%

Amortization Period (Yrs) : 30
Unfunded Liability : $645,425,286
Unfunded Liability per Member: $216,950

Benefit Tier Details

Tier:
Group A
Eligible Members:
Hired Before 1/1/2022
Vesting:
10 YCS
Age/YCS:
55/20 or 23 YCS or 62 years
Benefit Formula:
Years of Credited Service x 3.2% x Final Average Salary
Final Average Salary:
Highest 36 months within final 10 years
Automatic COLA:
None
Benefit Tier Options:
23 YCS after 2/17/2016, 84 months max, no interest, employee contributions not credited, graduated fee applies, COLA is credited.
Social Security:
Yes
Tier:
Group B
Eligible Members:
Hired on or After 1/1/2022
Vesting:
10 YCS
Age/YCS:
50/25 or 62 Years
Benefit Formula:
Years of Credited Service x 2.5% x Final Average Salary
Final Average Salary:
Highest 60 Months within final 10 years
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
Yes

Investment Policy Details

Effective Date: 2/16/2022

Asset Class:
Equities
Minimum Allocation:
35%
Maximum Allocation:
90%
Target Allocation:
65%
Asset Class:
Real Estate
Minimum Allocation:
0%
Maximum Allocation:
30%
Target Allocation:
15%
Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
0%
Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
15%
Target Allocation:
5%
Asset Class:
Fixed Income
Minimum Allocation:
5%
Maximum Allocation:
35%
Target Allocation:
10%