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- Irving Firemen's Relief and Retirement Fund (IFRRF
Actuarial accrued liability (AAL) Actuarial value of assets (AVA) Unfunded actuarial accrued liability (UAAL) Funded Ratio (AVA/AAL) Equivalent Single Amortization Period Assumed rate of return Valuation Payroll UAAL as a percent of covered payroll | $246,655,353 184,782,020 61,873,333 74.92% 46.5 years 8.25% 27,306,626 226.59% |
Note: IFRRF Actuary is completed every two years
Actuarial valuations - past 5 annual reports
123107 IFRRF Actuary Report (PDF)
123109 IFRRF Actuary Report (PDF)
010112 IFRRF Actuary Report (PDF)
011014 IFRRF Actuary Report (PDF)
123115 IFRRF Actuary Report (PDF)
Annual Audit Reports for the past 5 years.
Portfolio Management Strategy
The long-term expected rate of return on the IFRRF plan investments was determined by using a building-block method in which best estimate ranges of expected future real rate of returns (expected returns, net of pension plan investments expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return for each major asset class included in the IFRRF’s target asset allocations as of December 31, 2016 are summarized below:
Historical Investment Returns
Assumed Return 8.25%
1-Year Return 8.51%
3-Year Return 3.83%
10-Year Return 6.04%
Contributions
Actuarially Determined Contribution (ADC) rate - A target or recommended contribution to a defined benefit pension plan for the reporting period, determined in conformity with Actuarial Standards of Practice based on the most recent measurement available when the contribution for the reporting period was adopted.
Note: IFRRF Actuary is completed every two years.
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TMRS Actuarial and Financial Information