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Texas Local Fire Fighters Retirement Act Annual Report 2009 Plainview Firefighter Relief and Retirement Fund December 31 2009 REGISTRATION System Name Plainview Firefighter Reli

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Texas Local Fire Fighters Retirement Act Annual Report 2009 Plainview Firefighter Relief and Retirement Fund December 31 2009 REGISTRATION System Name Plainview Firefighter Reli Powered By Docstoc
					Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter Relief and Retirement Fund
December 31, 2009



REGISTRATION
         System Name Plainview Firefighter 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      John Anderson    Trustee                             Plainview    TX                                             (806) 296-1100
  2 CFO or Designee        Jack Keller      Trustee                             Plainview    TX                                             (806) 296-1130
  3 Elected Member         Albert Perez     Chair          3405 SW 3rd Street   Plainview    TX      79072     aperez@ci.plainview.tx.us    (806) 291-1247   (806) 291-1250
  4 Elected Member         David Sells      Secretary                           Plainview    TX                dsells@ci.plainview.tx.us
  5 Elected Member         Rusty Powers     Trustee                             Plainview    TX                rpowers@ci.plainview.tx.us   (806) 296-1247
  6 Citizen Member         Scott Alford     Vice-Chair                          Plainview    TX      79072
  7 Citizen Member         James Tirey      Trustee                                          TX

PRIMARY CONTACT
 #        Position
  1 chairman               Albert Perez     chair          3405 S.W. 3rd




     11/14/2010                                                                 Trustees                                                                           Page 1
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter Relief and Retirement Fund
December 31, 2009


REGISTRATION
             System Name: Plainview Firefighter Relief and Retirement Fund
           Fiscal Year End: 12/31/2009



CONTRACTORS
 #       Service Provided               Firm Name                Contact                      Address                       City   State   Zip Code               Email           Phone              Fax

 1   Accountant

 2   Actuary

 3   Attorney                city of Plainview           Leslie Pierce                                             Plainview         Tx     79072

 4   Auditor                 Moseley, Riddle&Dunnam      Kevin Moseley       621 W. 7th                            Plainview         Tx     79072
                                                                                                                   The
 5   Investment Consultant   Oppenheimer Trust Co.       J. Kyle Mays        1400 Woodloch Forest Dr. Suite 250    WoodlandsTx       TX     77380     kyle.mays@opco.com      (281) 363-7503   (281) 363-7599

 6   Investment Custodian    Oppenheimer Trust Co.       James Carley        18 Columbia Tpke                      Florham Park      NJ     07932     james.carley@opco.com   (212) 667-4182   (212) 667-4023
                                                                                                                   Huntington
 7   Investment Manager      Allegiance Capital                              300 Pacific Coast Highway, Ste. 305   Beach            CA      92648

 8   Investment Manager      Congress Asset Management                       2 Seaport Lane                        Boston           MA      02210

 9   Investment Manager      Delaware International                          2005 Market Street, 5th Floor         Philadelphia     PA      19103

10   Investment Manager      J & W Seligman                                  100 Park Avenue                       New York         NY      10017

11   Investment Manager      New Bridge                                      127 Public Square, 25th Floor         Cleveland        OH      44114

12   Investment Manager      Pimco All Asset Fund                            1345 Avenue of the Americas           New York         NY      10105

13   Investment Manager      Reed Conner Birdwell                            11111 Santa Monica Blvd., Ste. 1700   Los Angeles      CA      90025

14   Investment Manager      Atatlanta/Sosnoff                               101 Park Avenue, 6th Floor            New York         NY      10178

15   Investment Manager      Transamerica                                    109 N. Main Street, Ste. 700          Dayton           OH      45402

16   Investment Manager      Cohen & Steer                                   280 Park Avenue, 10th Floor           New York         NY      10017

17   Investment Manager




     11/14/2010                                                                                    Contractors                                                                                     Page 2
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter Relief and Retirement Fund
December 31, 2009

Actuarial Valuation and Methods                                                   Funded Ratio
 Valuation Date                                                                  100%
 Actuarial Cost Method
                                                                                  90%
 Amortization Method                                                                                   77%
                                                                                  80%
 Asset Valuation Method                                                                                                72%
                                                                                         67%
                                                                                  70%

                                                                                  60%                                                                                       55%
                                                                                                                                     50%
Actuarial Assumptions                                                             50%                                                               47%
 Investment Rate of Return
                                                                                  40%
 Projected Salary Increase
                                                                                  30%
 Includes Inflation At
                                                                                  20%
 Cost-of-Living Adjustments
                                                                                  10%

                                                                                   0%
                                                                                         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                 $5.8            $10.6                  $4.8               55%                $1.5                   320%                 28
   12/31/2005                 $4.2             $9.0                  $4.8               47%                $1.4                   346%                 27
   12/31/2003                 $4.0             $8.1                  $4.0               50%                $1.3                   313%                 38
   12/31/2001                 $7.2            $10.1                  $2.9               72%                $1.3                   228%                 25
   12/31/1999                 $6.4             $8.3                  $1.9               77%                $1.2                   155%                 22
   12/31/1997                 $3.9             $5.9                  $1.9               67%                $1.1                   168%




                                                                                                                                                      Contribution



   11/14/2010                                                                      Actuary                                                                                         Page 3
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter Relief and Retirement Fund
December 31, 2009

Asset Class                               December 30, 2008                     December 31, 2009
                                          Market Value        %                Market Value           %
 a Cash - Money Markets                         $76,913.51        1.9%                                    0.0%
 b Cash - Treasury Securities                  $100,672.93        2.5%                                    0.0%
 c Fixed Income - Corp Bonds                   $882,655.45     21.5%                                      0.0%
 d Alternative - Real Estate                    $75,719.00        1.8%                                    0.0%
 e Equity - Common Stock                     $1,642,204.98     40.0%                                      0.0%
 f   Equity - International                    $525,892.00     12.8%                                      0.0%
 g Alternative                                 $801,189.00     19.5%                                      0.0%
 h Select Asset Classification                                    0.0%                                    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                                   $4,105,246.87    100.0%                          $0.00       0.0%


Asset Allocation
Fixed Income                                   $882,655.45     21.5%                          $0.00       0.0%
Equities                                     $2,168,096.98     52.8%                          $0.00       0.0%
Cash Equivalents                               $177,586.44        4.3%                        $0.00       0.0%
Alternatives                                   $876,908.00     21.4%                          $0.00       0.0%
     Total for Investment Assets             $4,105,246.87    100.0%                          $0.00       0.0%


Other Assets
Other                                           $23,542.39
Receivables
Accrued Interest and Dividends                   $6,451.20
Payables (enter negative amount)
     Total Assets                            $4,135,240.46                                    $0.00


     11/14/2010                                              Asset Classification                                Page 4
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter 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      13.0%       13.0%            26.0%
   1998      13.0%       13.0%            26.0%            35%
   1999      13.0%       13.0%            26.0%            30%
   2000      13.0%       13.0%            26.0%
                                                           25%
   2001      13.0%       13.0%            26.0%
   2002      13.0%       13.0%            26.0%            20%
   2003      13.0%       13.0%            26.0%            15%
   2004      13.0%       13.0%            26.0%
                                                           10%
   2005      14.0%       13.0%            27.0%
   2006      14.0%       14.0%            28.0%             5%
   2007      14.0%       14.0%            28.0%             0%
   2008      14.0%       14.0%            28.0%                  1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
   2009
    11/14/20100.0%        0.0%             0.0%                                 Revenues                                                    Page 5
11/14/2010   Revenues   Page 6
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter 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


   11/14/2010                                               Disbursements                     Page 7
Texas Local Fire Fighters' Retirement Act - Annual Report 2009
Plainview Firefighter 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)        $4,135,240.46
             Total Assets at Year End                                                                      $0.00
             Difference (Calculated Year End Assets - Computed Year End Total Assets)              $4,135,240.46
                                                                                              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:




11/14/2010                                                                     Signature                           Page 8

				
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