Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
REGISTRATION
System Name Irving Firemen's Relief and Retirement Fund
Fiscal Year End 12/31/2009
BOARD OF TRUSTEES
# Statutory Position Name Board Title Address City State Zip Code Email Phone Fax
1 Mayor or Designee Max Duplant Trustee 825 W. Irving Blvd Irving TX 75060 mduplant@cityofirving.org (972) 721-4615 (972) 721-2795
2 CFO or Designee Lynda Johnson Trustee 825 W. Irving Blvd Irving TX 75060 ljohnson@cityofirving.org (972) 721-2709 (972) 721-2795
3 Elected Member Ben
4 Elected Member Heidle Baskin Vice-Chair 8799 FM 2909 Wheeler
Ben TX 75754 hbaskin@cityofirving.org (972) 721-2434 (972) 721-2795
5 Elected Member Tony Harvey Secretary 1466 VZCR 4309 Wheeler TX 75754 tharvey@cityofirving.org (972) 721-2651 (972) 721-2795
6 Citizen Member Floyd Bryant Trustee 2405 Lincoln Ct. Irving TX 75061 bbryant99@yahoo.com (972) 790-2378 (972) 721-2795
7 Citizen Member Ben Thomas Trustee 118 W. Rochelle Road Irving TX 75062 bthomas400@verizon.net (972) 256-2413 (972) 252-7333
PRIMARY CONTACT
# Position
Program
1 Administrator Edith Auston Administrator 845 W. Irving Blvd Irving TX 75060 eauston@cityofirving.org (972) 721-4858 (972) 721-2795
#NAME?
#NAME? FY End
#NAME? FY Start
12/30/2008
12/6/2011 Trustees Page 1
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
REGISTRATION
System Name: Irving Firemen's Relief and Retirement Fund
Fiscal Year End: 12/31/2009
CONTRACTORS
# Service Provided Firm Name Contact Address City State Zip Code Email Phone Fax
#### Accountant
#### Actuary
#### Attorney
#### Auditor
#### Investment Consultant
#### Investment Custodian
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
#### Investment Manager
12/6/2011 Contractors Page 2
10/1/2006 FY Start
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
Actuarial Valuation and Methods Funded Ratio
Valuation Date 100%
Actuarial Cost Method 86%
90% 84% 84% 84%
Amortization Method 78% 78%
80% 74%
Asset Valuation Method 71%
70%
60%
Actuarial Assumptions 50%
Investment Rate of Return
40%
Projected Salary Increase
Includes Inflation At 30%
Cost-of-Living Adjustments 20%
10%
0%
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Actuarial Status of the Fund - Schedule of Funding Progress in Millions
Actuarial Valuation Actuarial Actuarial Unfunded Actuarial UAAL Percentage Remaining
Date Value of Assets Accrued Liability Accrued Liability Funded Ratio Covered Payroll of Covered Payroll Amortization
($ millions) ($ millions) ($ millions) (percent) ($ millions) (percent) Years
(a) (b) ( b-a ) ( a/b ) (c) ( b-a )/ c
$0.0 0% 0%
12/31/2007 $116.7 $149.0 $32.3 78% $19.5 166% 36
12/31/2005 $92.4 $125.2 $32.7 74% $18.4 178% 52
12/31/2003 $76.2 $107.0 $30.8 71% $18.2 170% 65
12/31/2001 $72.9 $93.0 $20.1 78% $17.6 114% 31
12/31/1999 $66.6 $77.6 $11.1 86% $14.1 79% 29
12/31/1997 $51.9 $61.7 $9.8 84% $12.2 80%
12/31/1996 $46.5 $55.4 $8.9 84% $11.5 77%
12/31/1995 $43.0 $51.3 $8.3 84% $10.8 77%
Contribution
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#REF!
#REF!
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Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
Asset Class December 30, 2008 December 31, 2009
Market Value % Market Value %
a Cash - Cash Reserves $21,666.31 0.0% 0.0%
b Cash - Money Markets $3,348,760.28 3.8% 0.0%
c Fixed Income - Corp Bonds $3,839,545.78 4.3% 0.0%
d Fixed Income - Govt Participations $5,254,210.38 5.9% 0.0%
e Alternative - Real Estate $16,716,662.43 18.8% 0.0%
f Equity - Common Stock $55,875,018.35 62.8% 0.0%
g Equity - International 0.0% 0.0%
h Alternative $3,943,063.00 4.4% 0.0%
i Select Asset Classification 0.0% 0.0%
j Select Asset Classification 0.0% 0.0%
k Select Asset Classification 0.0% 0.0%
l Select Asset Classification 0.0% 0.0%
m Select Asset Classification 0.0% 0.0%
n Select Asset Classification 0.0% 0.0%
Total $88,998,926.53 100.0% $0.00 0.0%
Asset Allocation
Fixed Income $9,093,756.16 10.2% $0.00 0.0%
Equities $55,875,018.35 62.8% $0.00 0.0%
Cash Equivalents $3,370,426.59 3.8% $0.00 0.0%
Alternatives $20,659,725.43 23.2% $0.00 0.0%
Total for Investment Assets $88,998,926.53 100.0% $0.00 0.0%
Other Assets
Other
Receivables $316,197.61
Accrued Interest and Dividends $236,970.58
Payables (enter negative amount) -$7,371.04
Total Assets $89,544,723.68 $0.00
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Asset Allocation
Equities
0%
Cash
FixedEquivalents
Income
0% 0%
Alternatives
0%
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Select Asset Classification Beginning
Alternative Alternative Cash Equity Fixed Income Alternative
Alternative - Real Estate A C E F A
Cash - Cash Reserves a 0 21666.31 0 0 0
Cash - Money Markets b 0 3348760.3 0 0 0
Cash - Treasury Securities c 0 0 0 3839545.78 0
Equity - Common Stock d 0 0 0 5254210.38 0
Equity - Domestic Large Core e 16716662.43 0 0 0 0
Equity - Domestic Large Growth f 0 0 55875018.35 0 0
Equity - Domestic Large Value g 0 0 0 0 0
Equity - Domestic Small/Mid Core h 3943063 0 0 0 0
Equity - Domestic Small/Mid Growth i 0 0 0 0 0
Equity - Domestic Small/Mid Value j 0 0 0 0 0
Equity - Emerging k 0 0 0 0 0
Equity - Global l 0 0 0 0 0
Equity - International m 0 0 0 0 0
Equity - Preferred Stock n 0 0 0 0 0
Fixed Income - Corp Bonds $ 20,659,725 ######## $ 55,875,018 ######## $ -
Fixed Income - Domestic Core
Fixed Income - Domestic High-Yield
Fixed Income - Global Core
Fixed Income - Global High-Yield
Fixed Income - Govt Participations
Fixed Income - International Core
Fixed Income - International High-Yield
Fixed Income - Treasuries
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Equity Fixed Income Cash
E F C
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
$ - $ - $ -
12/6/2011 Asset Classification Page 24
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
Revenues for Reporting Year
Contributions Percent of Salary Amount
Fire Fighters' Contribution
City Matching Contributions as a Percent of Salary
Total Contributions 0.00% $0.00 $0.00
Interest or Dividends on:
Corporate Stocks & Bonds
Treasury Bonds, Notes & Bills
International Investments
Accrued Interest and dividends:
At the end of the year
At the beginning of the year
Change in Accrued Interest (Year End Balance - Beginning Balance) $0.00
Other
Realized and Unrealized Appreciation / (Depreciation)
Total Interest or Dividends $0.00 $0.00
Miscellaneous Revenues $0.00
Total Revenue $0.00
Contribution Rate History Total Contribution Rate History
Year FF City Total
1997 0.0%
1998 0.0% 35%
1999 0.0% 30%
2000 0.0%
25%
2001 0.0%
2002 0.0% 20%
2003 0.0% 15%
2004 0.0%
10%
2005 0.0%
2006 0.0% 5%
2007 0.0% 0%
2008 0.0% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
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1996 1997 1998 1999
12.00% 12.00% 12.00% 12.00%
12.00% 12.00% 12.00% 12.00%
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2000 2001 2002 2003 2004 2005
FF 13.00% 13.00% 14.00% 14.00% 14.00% 14.00%
City 14.00% 14.00% 14.00% 14.00% 14.00% 14.00%
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Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
Disbursements (or Expenses) for Reporting Year
Benefit Expenditures Count Amount
Monthly Payments for Service & Early Ret. Benefits
Paid on Disability (On-Duty)
Paid on Spouses Benefits
QDRO Payments
Paid on Children's Benefits
Paid on Disability (Off-Duty)
"DROP" Lump Sum distributions
Refund of Contributions
Lump Sum Death Benefit
Total Benefits 0 $0.00 $0.00
Non-Benefit Expenditures Amount
Actuarial Fees
Audit Fees
Bank Trust Fees
Investment Consultant Fees
Investment Managers' Fees
Travel Expense
Education & Training
Professional Memberships
Fiduciary Insurance
Physicians' Fees
Legal Fees
Administrative Salary Expense
Furniture and Equipment
Office Overhead
Miscellaneous (postage, checks, etc.)
Other (indicate type of expense)
Total Non-Benefit Expenditures $0.00 $0.00
Total Disbursements $0.00
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Intermediate Result. Do not include in printed part of form
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esult. Do not include in printed part of form
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Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Irving Firemen's Relief and Retirement Fund
December 31, 2009
Net Income
Total Revenue $0.00
Total Expenses $0.00
Net Income (Total Revenues - Total Expenses) $0.00
Comparing End of Year Assets
Calculated End of Year Assets (Beginning Assets+Total Revenues-Total Expenses) $89,544,723.68
Total Assets at Year End $0.00
Difference (Calculated Year End Assets - Computed Year End Total Assets) $89,544,723.68
Data Review Needed
Approximate Rate of Return for the Year -100.00%
Number of Active Fire Fighters During the Reporting Year
Financial Information Attested to By: Date
Signed:
, Chairman
Signed:
, Vice-Chairman
Signed:
, Secretary
Report Prepared By Date
Signed:
12/6/2011 Signature Page 33
12/6/2011 Signature Page 34