transparency

Marshall Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 698
Marshall, TX 75671
http://www.marshalltexas.net/Departments/Fire/
Phone: (903) 935-4526
Fax: None Reported

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

Total Members : 94

  Active Members: 45
  Inactive Members : 10
  Total Annuitants: 39
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $9,576,501

Total Assets : $9,590,410
Total Liabilities : $13,909
Total Additions : $2,036,407
Employer Contributions:
$618,285
30.36%
Employee Contributions:
$442,553
21.73%
Other Contributions:
$0
0.00%
Investment Income:
$975,569
47.91%
Other Income:
$0
0.00%

Total Deductions  : $1,358,127
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$1,241,724
91.43%
Administrative Expenses:
$36,001
2.65%
Investment Expenses:
$80,402
5.92%
Other Expenses:
$0
0.00%
Total Contribution Rate: 21.80%
(Effective Date: 12/31/2020)
Employer: 16.00%
Employee: 37.80%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.25%
  • 1-Year Return: 9.82%
  • 3-Year Return: 13.34%
  • 10-Year Return: 8.07%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.25%

Actuarial

(Effective Date: 12/31/2020)
Actuarial Value of Assets : $8,905,327
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: $8,905,327
Actuarial Assumption Details

Actuarial Funded Ratio : 40.19%

Market Funded Ratio: 40.19%

Amortization Period (Yrs) : 41
Unfunded Liability : $13,252,936
Unfunded Liability per Member: $140,989

Benefit Tier Details

Eligible Members:
Hired before 1/1/2019
Vesting:
10 YCS
Age/YCS:
50/10
Benefit Formula:
Years of Credited Service <= 20 years x 3.125% x Final Average Salary + $65 x YCS > 20
Final Average Salary:
Final 36 months
Automatic COLA:
None
Benefit Tier Options:
Forward DROP, 3 yr. max. Employee contributions credited, no interest.
Social Security:
No
Eligible Members:
Hired on/after 1/1/2019
Vesting:
20 YCS
Age/YCS:
53/20
Benefit Formula:
Years of Credited Service <= 20 years x 3.125% x Final Average Salary + $65 x YCS > 20
Final Average Salary:
Final 36 months
Automatic COLA:
None
Benefit Tier Options:
Forward DROP, 3 yr. max. Employee contributions credited, no interest.
Social Security:
No

Investment Policy Details

Effective Date: 11/29/2017

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