transparency

Corpus Christi Regional Transportation Authority

Overview

Contact Information:
602 N Staples St
Corpus Christi, TX 78401
http://www.ccrta.org
Phone: (361) 289-2712
Fax: (361) 289-0605

Classification: 810
Year Created:
Fiscal Year-End Month: 12

Total Members : 616

  Active Members: 217
  Inactive Members : 189
  Total Annuitants: 210
  (Effective Date: 1/1/2022)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $51,096,163

Total Assets : $51,096,163
Total Liabilities : $0
Total Additions : $6,979,732
Employer Contributions:
$1,382,108
19.80%
Employee Contributions:
$0
0.00%
Other Contributions:
$0
0.00%
Investment Income:
$5,597,624
80.20%
Other Income:
$0
0.00%

Total Deductions  : $2,437,726
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$2,292,357
94.04%
Administrative Expenses:
$145,369
5.96%
Investment Expenses:
$0
0.00%
Other Expenses:
$0
0.00%
Total Contribution Rate: 11.75%
(Effective Date: 1/1/2022)
Employer: 0.00%
Employee: 11.75%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 7.10%
  • 1-Year Return: 11.69%
  • 3-Year Return: 14.37%
  • 10-Year Return: 9.21%
  • 30-Year Return: 8.06%
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.10%

Actuarial

(Effective Date: 1/1/2022)
Actuarial Value of Assets : $51,096,162
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: $47,260,724
Actuarial Assumption Details

Actuarial Funded Ratio : 94.23%

Market Funded Ratio: 101.88%

Amortization Period (Yrs) : 12
Unfunded Liability : $2,893,901
Unfunded Liability per Member: $4,698

Benefit Tier Details

Eligible Members:
All
Vesting:
Graded 100% at 7 YCS
Age/YCS:
62 years
Benefit Formula:
Years of Credited Service x 2.00% Final Average Salary
Final Average Salary:
Final 3 years
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
No

Investment Policy Details

Effective Date: 12/31/2014

Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
3%
Target Allocation:
2%
Asset Class:
Equities
Minimum Allocation:
45%
Maximum Allocation:
75%
Target Allocation:
60%
Asset Class:
Fixed Income
Minimum Allocation:
27%
Maximum Allocation:
50%
Target Allocation:
38%