transparency

The Woodlands Firefighters' Retirement System

Overview

Contact Information:
P.O. Box 497
Conroe, TX 77305
http://www.twfrs.org
Phone: (936) 537-4475
Fax: (936) 264-1609

Classification: TLFFRA
Year Created: 2015
Fiscal Year-End Month: 12

Total Members : 154

  Active Members: 144
  Inactive Members : 4
  Total Annuitants: 6
  (Effective Date: 1/1/2022)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $63,441,626

Total Assets : $63,461,046
Total Liabilities : $19,420
Total Additions : $11,272,893
Employer Contributions:
$1,472,627
13.06%
Employee Contributions:
$1,472,627
13.06%
Other Contributions:
$0
0.00%
Investment Income:
$8,327,639
73.87%
Other Income:
$0
0.00%

Total Deductions  : $521,839
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$316,257
60.60%
Administrative Expenses:
$73,449
14.08%
Investment Expenses:
$132,133
25.32%
Other Expenses:
$0
0.00%
Total Contribution Rate: 12.00%
(Effective Date: 1/1/2022)
Employer: 12.00%
Employee: 24.00%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.00%
  • 1-Year Return: 15.07%
  • 3-Year Return: 17.19%
  • 10-Year Return: N/A
  • 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: 1/1/2022)
Actuarial Value of Assets : $63,441,626
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: $63,441,626
Actuarial Assumption Details

Actuarial Funded Ratio : 129.32%

Market Funded Ratio: 129.32%

Amortization Period (Yrs) : 0
Unfunded Liability : $0
Unfunded Liability per Member: N/A

Benefit Tier Details

Eligible Members:
All
Vesting:
20 YCS
Age/YCS:
52/20
Benefit Formula:
Final Average Salary x 2.5% x 20 + Final Average Salary x 3.0% x YCS > 20
Final Average Salary:
Highest 36 months within final 120 months
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
Yes

Investment Policy Details

Effective Date: 4/12/2019

Asset Class:
Alternative Investments
Minimum Allocation:
3%
Maximum Allocation:
28%
Target Allocation:
13%
Asset Class:
Equities
Minimum Allocation:
53%
Maximum Allocation:
88%
Target Allocation:
70%
Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
0%
Asset Class:
Fixed Income
Minimum Allocation:
13%
Maximum Allocation:
23%
Target Allocation:
18%