transparency

Refugio County Memorial Hospital District Retirement Plan

Overview

Contact Information:
107 Swift St
Refugio, TX 78377
http://www.refugiohospital.com
Phone: (361) 526-2321
Fax: None Reported

Classification: 810
Year Created:
Fiscal Year-End Month: 10

Total Members : 56

  Active Members: 41
  Inactive Members : 8
  Total Annuitants: 7
  (Effective Date: 10/31/2021)

Financials

(Effective Date: 10/31/2021)

Total Net Assets: $1,886,881

Total Assets : $1,886,881
Total Liabilities : $0
Total Additions : $392,876
Employer Contributions:
$27,200
6.92%
Employee Contributions:
$0
0.00%
Other Contributions:
$0
0.00%
Investment Income:
$365,676
93.08%
Other Income:
$0
0.00%

Total Deductions  : $159,599
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$150,151
94.08%
Administrative Expenses:
$9,448
5.92%
Investment Expenses:
$0
0.00%
Other Expenses:
$0
0.00%
Total Contribution Rate: N/A
(Effective Date: 11/1/2019)
Employer: N/A
Employee: N/A

Historical Investment Returns

(Report Date: 10/31/2019)
—  Assumed Rate of Return 6.00%
  • 1-Year Return: 9.93%
  • 3-Year Return: 7.84%
  • 10-Year Return: 6.53%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.00%

Actuarial

(Effective Date: 11/1/2019)
Actuarial Value of Assets : $1,861,692
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: $1,861,692
Actuarial Assumption Details

Actuarial Funded Ratio : 96.46%

Market Funded Ratio: 96.46%

Amortization Period (Yrs) : 5.2
Unfunded Liability : $68,240
Unfunded Liability per Member: $1,219

Benefit Tier Details

Eligible Members:
Hired before 1/1/2012
Vesting:
5 YCS
Age/YCS:
55/15 or Social Security Retirement Age
Benefit Formula:
Years of Credited Service < 20 x 1% x Final Average Salary, YCS frozen as of 12/31/2011
Final Average Salary:
Highest 5 consecutive years, frozen as of 12/31/2011
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
Yes

Investment Policy Details

Effective Date: 10/31/2014

Asset Class:
Fixed Income
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
50%
Asset Class:
Cash
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
3%
Asset Class:
Equities
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
47%