transparency

Plano Retirement Security Plan

Overview

Contact Information:
PO Box 860358
Plano, TX 75086
http://plano.gov
Phone: (972) 941-7115
Fax: None Reported

Classification: 810
Year Created: 1983
Fiscal Year-End Month: 12

Total Members : 3,344

  Active Members: 2,221
  Inactive Members : 90
  Total Annuitants: 1,033
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $220,324,460

Total Assets : $220,349,343
Total Liabilities : $24,883
Total Additions : $35,129,210
Employer Contributions:
$6,318,436
17.99%
Employee Contributions:
$0
0.00%
Other Contributions:
$0
0.00%
Investment Income:
$28,810,774
82.01%
Other Income:
$0
0.00%

Total Deductions  : $7,207,733
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$6,773,708
93.98%
Administrative Expenses:
$47,546
0.66%
Investment Expenses:
$383,552
5.32%
Other Expenses:
$2,927
0.04%
Total Contribution Rate: 3.21%
(Effective Date: 12/31/2021)
Employer: 0.00%
Employee: 3.21%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 6.75%
  • 1-Year Return: 14.84%
  • 3-Year Return: 16.68%
  • 10-Year Return: 10.34%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.75%

Actuarial

(Effective Date: 12/31/2021)
Actuarial Value of Assets : $220,324,460
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: $196,126,576
Actuarial Assumption Details

Actuarial Funded Ratio : 103.58%

Market Funded Ratio: 116.35%

Amortization Period (Yrs) : 0
Unfunded Liability : $0
Unfunded Liability per Member: N/A

Benefit Tier Details

Eligible Members:
All
Vesting:
5 YCS
Age/YCS:
65/5
Benefit Formula:
0.7% x Years of Credited Service (<=25 years) x Final Average Salary
Final Average Salary:
Highest 36 consecutive months of final 120
Automatic COLA:
% change in CPI, max. 4%
Benefit Tier Options:
Lump Sum Option
Social Security:
No

Investment Policy Details

Effective Date: 8/12/2020

Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
0%
Asset Class:
Real Estate
Minimum Allocation:
7%
Maximum Allocation:
13%
Target Allocation:
10%
Asset Class:
Fixed Income
Minimum Allocation:
20%
Maximum Allocation:
30%
Target Allocation:
25%
Asset Class:
Equities
Minimum Allocation:
52%
Maximum Allocation:
78%
Target Allocation:
65%