transparency

Texarkana Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 1967
Texarkana, TX 75504
http://texarkanafirepension.com/
Phone: (409) 828-0425
Fax: (903) 798-3933

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

Total Members : 153

  Active Members: 79
  Inactive Members : 0
  Total Annuitants: 74
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $43,910,070

Total Assets : $43,938,605
Total Liabilities : $28,535
Total Additions : $6,341,705
Employer Contributions:
$886,599
13.98%
Employee Contributions:
$613,799
9.68%
Other Contributions:
$0
0.00%
Investment Income:
$4,841,307
76.34%
Other Income:
$0
0.00%

Total Deductions  : $3,348,838
Benefit Payments:
Benefit Tier Details
$141,965
4.24%
Withdrawals:
$2,933,296
87.59%
Administrative Expenses:
$58,983
1.76%
Investment Expenses:
$214,594
6.41%
Other Expenses:
$0
0.00%
Total Contribution Rate: 19.50%
(Effective Date: 12/31/2021)
Employer: 13.50%
Employee: 33.00%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.50%
  • 1-Year Return: 11.38%
  • 3-Year Return: 15.66%
  • 10-Year Return: 8.78%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.50%

Actuarial

(Effective Date: 12/31/2021)
Actuarial Value of Assets : $43,910,070
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: $40,273,543
Actuarial Assumption Details

Actuarial Funded Ratio : 84.62%

Market Funded Ratio: 92.26%

Amortization Period (Yrs) : 27.5
Unfunded Liability : $7,320,444
Unfunded Liability per Member: $47,846

Benefit Tier Details

Eligible Members:
All
Vesting:
20 YCS
Age/YCS:
50/20
Benefit Formula:
Years of Credited Service x 3.09% x Final Average Salary
Final Average Salary:
Highest 36 months
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 3 yr. max. Employee contributions and COLA credited, no interest.
Social Security:
No

Investment Policy Details

Effective Date: 4/1/2020

Asset Class:
Fixed Income
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
29%
Asset Class:
Equities
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
57%
Asset Class:
Cash
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
0%
Asset Class:
Alternative Investments
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
9%
Asset Class:
Real Estate
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
5%