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Dallas County Hospital District Retirement Income Plan

Overview

Contact Information:
5200 Harry Hines Blvd
Dallas, TX 75235
http://www.parklandhospital.com
Phone: (214) 590-4123
Fax: (214) 590-4176

Classification: 810
Year Created: 1982
Fiscal Year-End Month: 12

Total Members : 21,294

  Active Members: 11,610
  Inactive Members : 6,288
  Total Annuitants: 3,396
  (Effective Date: 1/1/2022)

Financials

(Effective Date: 12/31/2021)

Total Net Assets: $1,599,131,000

Total Assets : $1,606,863,000
Total Liabilities : $7,731,999
Total Additions : $297,563,000
Employer Contributions:
$72,500,000
24.36%
Employee Contributions:
$50,396,000
16.94%
Other Contributions:
$0
0.00%
Investment Income:
$174,667,000
58.70%
Other Income:
$0
0.00%

Total Deductions  : $73,130,000
Benefit Payments:
Benefit Tier Details
$11,884,000
16.25%
Withdrawals:
$57,489,000
78.61%
Administrative Expenses:
$253,000
0.35%
Investment Expenses:
$3,504,000
4.79%
Other Expenses:
$0
0.00%
Total Contribution Rate: 8.43%
(Effective Date: 1/1/2022)
Employer: 6.20%
Employee: 14.63%

Historical Investment Returns

(Report Date: 12/31/2021)
—  Assumed Rate of Return 6.00%
  • 1-Year Return: 12.22%
  • 3-Year Return: 14.87%
  • 10-Year Return: 9.24%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 6.00%

Actuarial

(Effective Date: 1/1/2022)
Actuarial Value of Assets : $1,599,811,917
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: $1,454,972,566
Actuarial Assumption Details

Actuarial Funded Ratio : 73.33%

Market Funded Ratio: 80.63%

Amortization Period (Yrs) : 22
Unfunded Liability : $529,097,698
Unfunded Liability per Member: $24,847

Benefit Tier Details

Eligible Members:
All
Vesting:
5 YCS
Age/YCS:
65/5
Benefit Formula:
Years of Credited Service before 1/1/1982 x 1.25% x Final Average Salary + Years of Credited Service after 1/1/1982 x 2.50% x Final Average Salary
Final Average Salary:
Highest 5 consecutive years within final 10 years
Automatic COLA:
None
Benefit Tier Options:
None
Social Security:
No

Investment Policy Details

Effective Date: 11/30/2018

Asset Class:
Fixed Income
Minimum Allocation:
26%
Maximum Allocation:
34%
Target Allocation:
30%
Asset Class:
Equities
Minimum Allocation:
50%
Maximum Allocation:
70%
Target Allocation:
60%
Asset Class:
Real Estate
Minimum Allocation:
7%
Maximum Allocation:
13%
Target Allocation:
10%