transparency

Lower Colorado River Authority Retirement Plan

Overview

Contact Information:
3700 Lake Austin Blvd.
Mail Stop L-121
Austin, TX 78703
http://www.lcra.org
Phone: (512) 578-3200
Fax: None Reported

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

Total Members : 1,918

  Active Members: 851
  Inactive Members : 71
  Total Annuitants: 996
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $518,834,000

Total Assets : $521,642,000
Total Liabilities : $2,808,000
Total Additions : $88,281,000
Employer Contributions:
$27,500,000
31.15%
Employee Contributions:
$0
0.00%
Other Contributions:
$0
0.00%
Investment Income:
$60,781,000
68.85%
Other Income:
$0
0.00%

Total Deductions  : $47,870,000
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$45,801,000
95.68%
Administrative Expenses:
$252,000
0.53%
Investment Expenses:
$1,817,000
3.80%
Other Expenses:
$0
0.00%
Total Contribution Rate: 22.41%
(Effective Date: 1/1/2022)
Employer: 0.00%
Employee: 22.41%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.00%
  • 1-Year Return: 12.60%
  • 3-Year Return: 15.00%
  • 10-Year Return: 8.00%
  • 30-Year Return: 8.10%
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.00%

Actuarial

(Effective Date: 1/1/2022)
Actuarial Value of Assets : $517,931,333
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: $475,075,890
Actuarial Assumption Details

Actuarial Funded Ratio : 74.39%

Market Funded Ratio: 81.10%

Amortization Period (Yrs) : 18
Unfunded Liability : $163,576,646
Unfunded Liability per Member: $85,285

Benefit Tier Details

Tier:
Tier 1
Eligible Members:
Hired before 1/1/2002
Vesting:
3 YCS
Age/YCS:
65/5 or Rule of 80
Benefit Formula:
(Years of Credited Service x 1.75% x Final Average Salary) + (0.40% x (FAS-Integration Level) x YCS)
Final Average Salary:
Highest 60 months
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
Yes
Tier:
Tier 2
Eligible Members:
Hired btwn 1/1/2002 & 5/1/2012
Vesting:
3 YCS
Age/YCS:
65/5 or Rule of 80
Benefit Formula:
Lifetime Monthly Benefit based on employees account balance - Employee contribution grown at 7% annually.
Final Average Salary:
N/A
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
Yes

Investment Policy Details

Effective Date: 1/1/2021

Asset Class:
Fixed Income
Minimum Allocation:
10%
Maximum Allocation:
30%
Target Allocation:
N/A
Asset Class:
Equities
Minimum Allocation:
60%
Maximum Allocation:
80%
Target Allocation:
N/A
Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
10%
Target Allocation:
N/A
Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
20%
Target Allocation:
N/A