transparency

Tyler Firemen's Relief & Retirement Fund

Overview

Contact Information:
3933 FM 344 E
Tyler, TX 75703
http://www.cityoftyler.org
Phone: (903) 535-0005
Fax: None Reported

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

Total Members : 276

  Active Members: 158
  Inactive Members : 0
  Total Annuitants: 118
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $89,297,890

Total Assets : $89,346,261
Total Liabilities : $48,371
Total Additions : $15,314,803
Employer Contributions:
$2,739,984
17.89%
Employee Contributions:
$1,730,935
11.30%
Other Contributions:
$0
0.00%
Investment Income:
$10,843,884
70.81%
Other Income:
$0
0.00%

Total Deductions  : $7,071,569
Benefit Payments:
Benefit Tier Details
$765,329
10.82%
Withdrawals:
$5,509,881
77.92%
Administrative Expenses:
$48,171
0.68%
Investment Expenses:
$748,188
10.58%
Other Expenses:
$0
0.00%
Total Contribution Rate: 21.50%
(Effective Date: 12/31/2021)
Employer: 13.50%
Employee: 35.00%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.00%
  • 1-Year Return: 12.54%
  • 3-Year Return: 14.98%
  • 10-Year Return: 9.03%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.00%

Actuarial

(Effective Date: 12/31/2021)
Actuarial Value of Assets : $89,297,890
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: $82,134,149
Actuarial Assumption Details

Actuarial Funded Ratio : 72.95%

Market Funded Ratio: 79.32%

Amortization Period (Yrs) : 26.8
Unfunded Liability : $30,449,465
Unfunded Liability per Member: $110,324

Benefit Tier Details

Tier:
Tier 1
Eligible Members:
Members with >= 20 YCS on 1/1/2005
Vesting:
20 YCS
Age/YCS:
55/20 or 50/25
Benefit Formula:
71.50% x Final Average Salary + $113 x YCS > 20
Final Average Salary:
Highest 60 months
Automatic COLA:
Ad hoc based on financial condition of the fund as determined by the fund actuary.
Benefit Tier Options:
Retro DROP, 3 or 5 yr. max. Employee contributions credited, no interest or COLA. Or, Partial Lump Sum Option of up to 48 months of benefit.
Social Security:
No
Tier:
Tier 2
Eligible Members:
Members with < 20 YCS on 1/1/2005
Vesting:
20 YCS
Age/YCS:
55/20 or 50/25
Benefit Formula:
71.50% x Final Average Salary + $113 x YCS > 20
Final Average Salary:
Highest 60 months
Automatic COLA:
Ad hoc based on financial condition of the fund as determined by the fund actuary.
Benefit Tier Options:
Retro DROP, 3 or 5 yr. max. Employee contributions credited, no interest or COLA. Or, Partial Lump Sum Option of up to 48 months of benefit.
Social Security:
No

Investment Policy Details

Effective Date: 1/1/2018

Asset Class:
Equities
Minimum Allocation:
45%
Maximum Allocation:
70%
Target Allocation:
N/A
Asset Class:
Fixed Income
Minimum Allocation:
30%
Maximum Allocation:
55%
Target Allocation:
N/A
Asset Class:
Cash
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
N/A
Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
15%
Target Allocation:
N/A