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Sweetwater Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 588
Sweetwater, TX 79556
http://www.sweetwaterfirepension.com
Phone: (409) 828-0425
Fax: (325) 235-1507

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

Total Members : 53

  Active Members: 24
  Inactive Members : 2
  Total Annuitants: 27
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $10,228,714

Total Assets : $10,326,100
Total Liabilities : $97,386
Total Additions : $1,706,160
Employer Contributions:
$351,021
20.57%
Employee Contributions:
$308,920
18.11%
Other Contributions:
$0
0.00%
Investment Income:
$1,046,219
61.32%
Other Income:
$0
0.00%

Total Deductions  : $1,219,378
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$1,106,936
90.78%
Administrative Expenses:
$52,313
4.29%
Investment Expenses:
$60,129
4.93%
Other Expenses:
$0
0.00%
Total Contribution Rate: 18.00%
(Effective Date: 12/31/2020)
Employer: 17.00%
Employee: 35.00%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 8.00%
  • 1-Year Return: 9.87%
  • 3-Year Return: 13.33%
  • 10-Year Return: 7.86%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 8.00%

Actuarial

(Effective Date: 12/31/2020)
Actuarial Value of Assets : $9,741,932
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: $9,435,391
Actuarial Assumption Details

Actuarial Funded Ratio : 63.19%

Market Funded Ratio: 65.25%

Amortization Period (Yrs) : 68.9
Unfunded Liability : $5,495,558
Unfunded Liability per Member: $103,690

Benefit Tier Details

Tier:
Tier 1
Eligible Members:
Hired before 8/1/2017
Vesting:
1O YCS
Age/YCS:
50/20
Benefit Formula:
Years of Credited Service <= 20 x 3.95% x Final Average Salary + $50 x YCS > 20
Final Average Salary:
Highest consecutive 72 pay periods
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 2 yr. max. No employee contributions or interest credited.
Social Security:
No
Tier:
Tier 2
Eligible Members:
Hired on/after 8/1/2017
Vesting:
1O YCS
Age/YCS:
50/20
Benefit Formula:
Years of Credited Service <= 20 x 3.5% x Final Average Salary + $50 x YCS > 20
Final Average Salary:
Highest consecutive 120 pay periods
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 2 yr. max. No employee contributions or interest credited.
Social Security:
No

Investment Policy Details

Effective Date: 3/1/2004

Asset Class:
Real Estate
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
5%
Asset Class:
Equities
Minimum Allocation:
55%
Maximum Allocation:
76%
Target Allocation:
64%
Asset Class:
Fixed Income
Minimum Allocation:
25%
Maximum Allocation:
45%
Target Allocation:
31%