transparency

Brownwood Firemen's Relief & Retirement Fund

Overview

Contact Information:
PO Box 1389
Brownwood, TX 76804
http://www.brownwoodtexas.gov
Phone: (325) 646-5775
Fax: (325) 641-2162

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

Total Members : 63

  Active Members: 34
  Inactive Members : 0
  Total Annuitants: 29
  (Effective Date: 12/31/2021)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $5,789,090

Total Assets : $5,790,715
Total Liabilities : $1,625
Total Additions : $1,209,559
Employer Contributions:
$398,825
32.97%
Employee Contributions:
$170,894
14.13%
Other Contributions:
$0
0.00%
Investment Income:
$639,840
52.90%
Other Income:
$0
0.00%

Total Deductions  : $829,326
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$753,527
90.86%
Administrative Expenses:
$30,331
3.66%
Investment Expenses:
$45,468
5.48%
Other Expenses:
$0
0.00%
Total Contribution Rate: 20.00%
(Effective Date: 12/31/2021)
Employer: 10.00%
Employee: 30.00%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.00%
  • 1-Year Return: 10.61%
  • 3-Year Return: 14.81%
  • 10-Year Return: 7.74%
  • 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 : $5,789,089
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: $5,307,594
Actuarial Assumption Details

Actuarial Funded Ratio : 46.16%

Market Funded Ratio: 50.35%

Amortization Period (Yrs) : 52.8
Unfunded Liability : $6,190,796
Unfunded Liability per Member: $98,267

Benefit Tier Details

Eligible Members:
All
Vesting:
20 YCS
Age/YCS:
50/20
Benefit Formula:
50% x Final Average Salary + $54.50 x YCS > 20
Final Average Salary:
Highest 60 consecutive months
Automatic COLA:
None
Benefit Tier Options:
Forward DROP, 2 yr. max. Employee contributions and COLA credited, no interest. Or, Retro DROP, max 2 years. Employee contributions credited, no interest or COLA. Benefit credits adjusted for payment form.
Social Security:
Yes

Investment Policy Details

Effective Date: 11/17/2011

Asset Class:
Fixed Income
Minimum Allocation:
30%
Maximum Allocation:
60%
Target Allocation:
35%
Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
0%
Asset Class:
Equities
Minimum Allocation:
20%
Maximum Allocation:
70%
Target Allocation:
65%