transparency

Temple Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 6101
Temple, TX 76503
http://templefirepension.com/
Phone: (254) 774-5834
Fax: (254) 774-5848

Classification: TLFFRA
Year Created:
Fiscal Year-End Month: 9

Total Members : 225

  Active Members: 122
  Inactive Members : 3
  Total Annuitants: 100
  (Effective Date: 9/30/2021)

Financials

(Effective Date: 9/30/2021)

Total Net Assets: $57,652,557

Total Assets : $57,652,557
Total Liabilities : $0
Total Additions : $13,673,468
Employer Contributions:
$1,541,404
11.27%
Employee Contributions:
$1,517,009
11.09%
Other Contributions:
$0
0.00%
Investment Income:
$10,615,055
77.63%
Other Income:
$0
0.00%

Total Deductions  : $4,439,168
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$4,255,919
95.87%
Administrative Expenses:
$72,628
1.64%
Investment Expenses:
$110,621
2.49%
Other Expenses:
$0
0.00%
Total Contribution Rate: 16.24%
(Effective Date: 9/30/2020)
Employer: 16.00%
Employee: 32.24%

Historical Investment Returns

(Report Date: 9/30/2021)
—  Assumed Rate of Return 7.75%
  • 1-Year Return: 20.95%
  • 3-Year Return: 8.69%
  • 10-Year Return: 11.76%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.75%

Actuarial

(Effective Date: 9/30/2020)
Actuarial Value of Assets : $48,418,256
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: $47,731,470
Actuarial Assumption Details

Actuarial Funded Ratio : 70.50%

Market Funded Ratio: 71.51%

Amortization Period (Yrs) : 26.6
Unfunded Liability : $19,976,864
Unfunded Liability per Member: $88,786

Benefit Tier Details

Eligible Members:
All
Vesting:
Graded 100% at 20 YCS
Age/YCS:
50/20
Benefit Formula:
65.75% x Final Average Salary + $98 x YCS > 20
Final Average Salary:
Highest 60 months
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 2 yr. max. Employee contributions credited, no interest.
Social Security:
No

Investment Policy Details

Effective Date: 9/30/2016

Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
1%
Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
30%
Target Allocation:
20%
Asset Class:
Fixed Income
Minimum Allocation:
10%
Maximum Allocation:
20%
Target Allocation:
15%
Asset Class:
Real Estate
Minimum Allocation:
0%
Maximum Allocation:
8%
Target Allocation:
5%
Asset Class:
Equities
Minimum Allocation:
39%
Maximum Allocation:
80%
Target Allocation:
60%