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Fort Worth Employees' Retirement Fund Staff Plan

Overview

Contact Information:
3801 Hulen Street, Suite 101
Fort Worth, TX 76107
http://www.fwretirement.org
Phone: (817) 632-8900
Fax: (817) 632-8910

Classification: Muni
Year Created: 2007
Fiscal Year-End Month: 9

Total Members : 29

  Active Members: 18
  Inactive Members : 7
  Total Annuitants: 4
  (Effective Date: 9/30/2021)

Financials

(Effective Date: 9/30/2021)

Total Net Assets: $8,019,569

Total Assets : $8,910,795
Total Liabilities : $891,226
Total Additions : $2,243,158
Employer Contributions:
$497,821
22.19%
Employee Contributions:
$328,077
14.63%
Other Contributions:
$0
0.00%
Investment Income:
$1,417,260
63.18%
Other Income:
$0
0.00%

Total Deductions  : $226,614
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$181,061
79.90%
Administrative Expenses:
$28,538
12.59%
Investment Expenses:
$16,673
7.36%
Other Expenses:
$342
0.15%
Total Contribution Rate: 21.53%
(Effective Date: 12/31/2021)
Employer: 10.50%
Employee: 32.03%

Historical Investment Returns

(Report Date: 9/30/2021)
—  Assumed Rate of Return 7.00%
  • 1-Year Return: 22.44%
  • 3-Year Return: 9.77%
  • 10-Year Return: 8.65%
  • 30-Year Return: 7.88%
  • 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 : $8,518,005
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: $7,848,613
Actuarial Assumption Details

Actuarial Funded Ratio : 75.65%

Market Funded Ratio: 82.10%

Amortization Period (Yrs) : 27
Unfunded Liability : $2,526,442
Unfunded Liability per Member: $87,119

Benefit Tier Details

Eligible Members:
All
Vesting:
5 YCS
Age/YCS:
65/5 or Rule of 80
Benefit Formula:
3.0% compensation base x Years of Credited Service
Final Average Salary:
Highest 5 years
Automatic COLA:
Ad hoc for vested/terminated members before 2/24/2016. Amort period <= 18 yrs: 4%; 18.1-24 yrs: 3%; 24.1-28 yrs: 2%; 28+yrs: none.
Benefit Tier Options:
DROP, 6 yrs max (employee contributions credited)
Social Security:
No

Investment Policy Details

Effective Date: 1/27/2021

Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
1%
Asset Class:
Alternative Investments
Minimum Allocation:
10%
Maximum Allocation:
40%
Target Allocation:
25%
Asset Class:
Equities
Minimum Allocation:
30%
Maximum Allocation:
60%
Target Allocation:
45%
Asset Class:
Fixed Income
Minimum Allocation:
10%
Maximum Allocation:
40%
Target Allocation:
19%
Asset Class:
Real Estate
Minimum Allocation:
5%
Maximum Allocation:
20%
Target Allocation:
10%