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JPS Pension Plan - Tarrant County Hospital District

Overview

Contact Information:
1108 Lavaca Street, Suite 700
Austin, TX 78701-2180
http://www.tha.org/retirementplan
Phone: (512) 465-1544
Fax: (512) 465-1018

Classification: 810
Year Created: 1970
Fiscal Year-End Month: 9

Total Members : 4,623

  Active Members: 4,101
  Inactive Members : 1,615
  Total Annuitants: 522
  (Effective Date: 10/1/2021)

Financials

(Effective Date: 9/30/2021)

Total Net Assets: $431,854,261

Total Assets : $431,878,922
Total Liabilities : $24,661
Total Additions : $107,881,148
Employer Contributions:
$20,152,558
18.68%
Employee Contributions:
$5,475,528
5.08%
Other Contributions:
$0
0.00%
Investment Income:
$82,253,062
76.24%
Other Income:
$0
0.00%

Total Deductions  : $17,585,184
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$16,294,586
92.66%
Administrative Expenses:
$1,053,337
5.99%
Investment Expenses:
$237,261
1.35%
Other Expenses:
$0
0.00%
Total Contribution Rate: 6.25%
(Effective Date: 10/1/2020)
Employer: 1.85%
Employee: 8.10%

Historical Investment Returns

(Report Date: 9/30/2021)
—  Assumed Rate of Return 6.75%
  • 1-Year Return: -1.59%
  • 3-Year Return: 9.66%
  • 10-Year Return: 8.30%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.75%

Actuarial

(Effective Date: 10/1/2020)
Actuarial Value of Assets : $341,507,272
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: $343,376,929
Actuarial Assumption Details

Actuarial Funded Ratio : 93.96%

Market Funded Ratio: 93.45%

Amortization Period (Yrs) : 6.3
Unfunded Liability : $22,076,080
Unfunded Liability per Member: $4,775

Benefit Tier Details

Eligible Members:
Hired prior to 10/1/2006, or if hired after 9/30/2006 upon making voluntary employee contributions
Vesting:
3 YCS for executives in the administrative staff, 5 YCS for all others
Age/YCS:
65/5
Benefit Formula:
Years of Credited Service x 1.4% x Final Average Salary + (YCS x 0.7% for FAS > $6,250); additional benefits provided to certain named individuals and positions.
Final Average Salary:
Highest consecutive 5 years within final 10 years
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
Yes

Investment Policy Details

Effective Date: 12/1/2019

Asset Class:
Equities
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
75%
Asset Class:
Fixed Income
Minimum Allocation:
N/A
Maximum Allocation:
N/A
Target Allocation:
25%