transparency

Port Arthur Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 1089
Port Arthur, TX 77641
http://www.portarthurfirepension.com
Phone: (409) 983-8734
Fax: None Reported

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

Total Members : 197

  Active Members: 106
  Inactive Members : 3
  Total Annuitants: 88
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $59,841,693

Total Assets : $59,841,693
Total Liabilities : $0
Total Additions : $8,919,504
Employer Contributions:
$1,427,262
16.00%
Employee Contributions:
$1,353,092
15.17%
Other Contributions:
$0
0.00%
Investment Income:
$6,139,150
68.83%
Other Income:
$0
0.00%

Total Deductions  : $4,780,701
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$4,594,351
96.10%
Administrative Expenses:
$103,775
2.17%
Investment Expenses:
$82,575
1.73%
Other Expenses:
$0
0.00%
Total Contribution Rate: 13.20%
(Effective Date: 12/31/2021)
Employer: 15.00%
Employee: 28.20%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.25%
  • 1-Year Return: 10.86%
  • 3-Year Return: 14.02%
  • 10-Year Return: 8.92%
  • 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: 12/31/2021)
Actuarial Value of Assets : $59,837,587
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: $56,103,170
Actuarial Assumption Details

Actuarial Funded Ratio : 77.80%

Market Funded Ratio: 82.98%

Amortization Period (Yrs) : 19.7
Unfunded Liability : $16,009,955
Unfunded Liability per Member: $81,269

Benefit Tier Details

Eligible Members:
All
Vesting:
10 YCS
Age/YCS:
50/20
Benefit Formula:
Years of Credited Service <= 20 x 2.7% x Final Average Salary + $125 x YCS > 20
Final Average Salary:
Highest 60 months
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 3 yr. max. Employee contributions credited, no interest or COLA.
Social Security:
No

Investment Policy Details

Effective Date: 3/21/2007

Asset Class:
Equities
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
60%
Asset Class:
Fixed Income
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
40%