transparency

Longview Firemen's Relief & Retirement Fund

Overview

Contact Information:
411 N Fredonia St Ste 110
Longview, TX 75601
https://www.longviewfirepension.com
Phone: (903) 212-4357
Fax: None Reported

Classification: TLFFRA
Year Created: 1937
Fiscal Year-End Month: 12

Total Members : 338

  Active Members: 177
  Inactive Members : 3
  Total Annuitants: 158
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $52,468,351

Total Assets : $52,469,127
Total Liabilities : $776
Total Additions : $11,427,389
Employer Contributions:
$2,603,714
22.78%
Employee Contributions:
$2,265,549
19.83%
Other Contributions:
$0
0.00%
Investment Income:
$6,557,240
57.38%
Other Income:
$886
0.01%

Total Deductions  : $8,399,894
Benefit Payments:
Benefit Tier Details
$538,975
6.42%
Withdrawals:
$7,401,988
88.12%
Administrative Expenses:
$99,984
1.19%
Investment Expenses:
$358,947
4.27%
Other Expenses:
$0
0.00%
Total Contribution Rate: 19.00%
(Effective Date: 12/31/2021)
Employer: 16.53%
Employee: 35.53%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.50%
  • 1-Year Return: 12.79%
  • 3-Year Return: 14.30%
  • 10-Year Return: 7.39%
  • 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: 12/31/2021)
Actuarial Value of Assets : $52,468,351
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: $49,995,149
Actuarial Assumption Details

Actuarial Funded Ratio : 40.54%

Market Funded Ratio: 42.55%

Amortization Period (Yrs) : infinite
Unfunded Liability : $73,325,862
Unfunded Liability per Member: $216,940

Benefit Tier Details

Tier:
Tier 1
Eligible Members:
Hired before 1/1/2016
Vesting:
20 YCS
Age/YCS:
50/20
Benefit Formula:
80% x Final Average Salary + $80 x YCS > 20
Final Average Salary:
Members with >= 20 YCS as of 1/22/2013: highest consecutive 78 biweekly pay periods; members with < 20 YCS as of 1/22/2013: highest consecutive 130 biweekly pay periods
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 3 yr. max. Employee contributions credited, no interest.
Social Security:
No
Tier:
Tier 2
Eligible Members:
Hired on/after 1/1/2016
Vesting:
20 YCS
Age/YCS:
55/20
Benefit Formula:
Years of Credited Service (max 25 years) x 3.0% x Final Average Salary + $80 x YCS > 25
Final Average Salary:
Highest consecutive 130 biweekly pay periods
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 3 yr. max. Employee contributions credited, no interest.
Social Security:
No

Investment Policy Details

Effective Date: 6/16/2020

Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
35%
Target Allocation:
N/A
Asset Class:
Fixed Income
Minimum Allocation:
20%
Maximum Allocation:
35%
Target Allocation:
N/A
Asset Class:
Equities
Minimum Allocation:
45%
Maximum Allocation:
65%
Target Allocation:
N/A