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1 ;~*',~ :.t'vcu~1,,"~ REGSTRATON System Name Fiscal Year End 12131/2010 BOARD OF TRUSTEES.. ~...,...".".. ", ~... ",... _....,.., ""'... " _ltj _ Mayor or Deslonee Hufus Duncan Trustee POBox Lufkin TX ( CFO or Designee Paul Parker Trustee 300 C. Shepherd St Lufkin TX looarker@citvoflufkin.com ( Elected Member TiM Villasana Chair 300 E. Shepherd St Lufkin TX tinov@consolidated.net ( Elected Member Jimmy tlagsdale ecrrreasr 300 E. Shepherd St L(jfkin TX iraasdaa@citvoflufkin.com ( Elected Member Joe Clark Trustee 300 E. Shepherd St Lufkin T( ioeclark.txff@amail.com ( Citizen Member Danny Roper Viee Chair RegiOtis Bank Lufkin TX dannv.rooer@reoions.com ( Citizen Member St~lfjley New ~.."." Trustee Firs! lolafik& Trust Lufkin_. TX sMw@fbtAt.COm\ (936L PRMARY CONTACT # ~P~OS~lt~lo~n~ ~ ~ ~ ~ ~Wlihiilistrafor.GJiaM f'lwsseil , :Shepherd Street lljfkln. ~75904 drussell@cityoflufkin.com 1(936630,0555 1(9'36 63~~Q408 1 Trustees Page 1
2 ~"'G/j;>:.~*"":. ~~! ~r(:oto';,o\~'" REGSTRATON System Name: Fiscal Year End: 12/31/2010 CONTRACTORS 1/ Service Provided Firm Name Contact Address City State Zip Code Phone Fax 1 Accountant 2 Actuary Retirement H6r1iZOiiS, lfic Mickey McDaniel Tx mmcdanile@retjrement horlzons,com (281 29B J 109 ( Atiorney Gity 01 LuiRin Bruce Green ~ ;3QQ E.5hepherd st bumn Tx ~~~ (936 B39~4466 ( Auditor AlexandeLLankiarn& Hiers thris Wethington 4000 S. Mediord Dr LufRili TX chris@aihcpa.com (936 ' ( lnvestrnent Consultant Merrill Lynch Max Alvis.VP 41 90:. Medford Dr _. LuMn TX ( ( nv9stmqnt Custodian 7 nvgstment Managor WEfstWbOdTrust..,",,"~ _. J.Porfer Montgomery ~5QGresdlnt C\' Suite 1220 g~la TX ""..,' (21 ' 75669~ 9. J e nvestment Manager 9 nvestment Manager 10 nvestment Manager 11 nvestment Manager 12 nvestment Manager 13 nvestment Manager 14 nvestment Manager 15 nvestment Manager 16 nvestment Manager 17 nvestment Manager Contractors Page 2
3 Texas Local Fire Fighters' Retirement Act Annual Report :>1!~_~m~~r~1,_~01 0 Actuarial Valuation and Methods Valuation Date 12/31/2008 Funded Ratio 100% Entry age normal Actuarial Cost Method Amortization Method 90% 82% level percentage of payroll Asset Valuation Method 80% smoothed market value 79% r 174% roo 70% roo70% r 60% Act. A r r 50% tl 50% nvestment Rate of Return Projected Salary ncrease ncludes nflation At CostofLiving Adjustments 7.50% 3.00% 3.00% none r 38% 40% roo 30% 20% 10% 0% '. 1992, 1994 "", 1996," " ' , " '" ' Actuarial Status of the Fund Schedule of Funding Progress in Millions Actuarial Valuation Date Actuarial Value of Assets Actuarial Accrued Liability Unfunded Actuarial Accrued liability Funded Ratio Covered PayrOll UAAL Percentage of Covered Payroll Remaining Amortization ($ millions ($ millions ($ millions (percent ($ millions (percent Years (a (b ( boa ( a/b (c ( boa / c 12/31/2008 $9.5 $24.8 $ % $4.1 12/31/2006 $10.6 $21.2 $ % ' $3.6 12/31/2004 $10.7r $17.6 $6.9 12/31/2002 $9.6 $15.7 $6.1 12/31/2000 $11.0 $13.9 $2.9 79% 12/31/1998 $9.7 $11.9 $2.1 82% 12/31/1995 $6.8 $9.8 $3.0 70% 12/31/1992 $5.7 $7.7 $2.0 74% Actuary $3.0 $3.2 $ % nfinite 297% nfinite 228% nfinite 190% nfinite 109% 26 $2.4 88% $ % $ % Page 3
4 December 31,2010 Asset Class December 30, 2009 Market Value a Cash Money Markets $!~1j~3~9.M % Market Value % 8.1% $1,632, $1,074, % b Fixed ncome Corp Bonds $1,199,3Q % c Fixed ncome Govt Participations $1,491, % d Equity Common Stock $2,059, % e Equity nternational $1,126, % f Alternative $2,334, % 9 h Fixed ncome Treasuries Equity Preferred Stock i Alternative Real Estate E 10.6% 72.9% $7,362, $22, % j Equity' Emerging k Select Asset Classification Select Asset Classification m Select Asset Classification n Seleot Asset Classification $8.933, $10,093, Fixed ncome $2,690, % $1,074, % Equities $3,186, % $7,362, % Cash Equivalents Alternatives $721, % $1,632, % $2,334, % $22, % $8,933, $10,093, Total Asset Allocation Total for nvestment Assets Other Assets Mise ncome Other Receivables Accrued nterest and Dividends Payables (enter negative amount Total Assets j;o.oo $0.00 _$6,' $8, ($84, $8,855, $10,101, Asset Classification Page 4
5 Texas Local Fire Fighters' Retirement Act Annual Report 2010 *B ~.. ~"C"~~ ~~ i ~o."c:o~\~,r.:,t:f Revenues for Reporting Year Contributions Percent of Salary. Amount Fire Fighters' Contribution 13.20% $547, City Matching Contributions as a Percent of Salary 23.50% $974, Total Contributions 36.70% $1,521, $1,521, nterest or Dividends on: Corporate Stocks & Bonds Treasury Bonds, Notes & 8111s nternational nvestments Accrued nterest and dividends: At the end of the year J~,12~.74 At the beginning of the year ~6, ~o.oo Change in Accrued nterest (Year End Balance Beginning Balance $1, Other $253i1'66.75 Realized and Unrealized Appreciation / (Depreciation $865,,54.00 Total nterest or Dividends $1,120, $1,120, Miscellaneous Revenues $0.00 Total Revenue $2,642, Contribution Rate History Year FF City Total % 11.0% 22.0% % 11.0% 22.0% % 11.0% 22.0% % 11.0% 22.0% % 11.0% 22.0% % 11.0% 22.0% % 11.0% 22.0% % 10.8% 21.6% % 11.6% 22.5% % 14.0% 25.0% % 17.0% 29.2% % 17.0% 29.2% % 23.5% 36.7% Total Contribution 35% 30% 25% 20% 15% 10% 5% 0% Rate History..,......, i 'f 'fr r r r : :, 11 l f l i ' l l f l f ~ f f f f f f f ~ ~ ' l l l i Revenues Page 5
6 Texas Local Fire Fighters Retirement Act Annual Report 2010 Disbursements (or Expenses for Rep o rt_ln. g Y_e 8_r Benefit EXDendltures _ Count Monthly Payments for Service & Early Ret. Benefits Paid on Disability (OnDuty Amount <t1 g $1,079,~97.QD $6, Paid on Spouses Benefits 8" $M QDRO Payments 1.~~$~jTl5. s4 Paid on Children's Benefits i $4, $0.00 Paid on Disability (OftDuty "DROP" Lump Sum distributions Refund of Contributions 7 Lump Sum Death Benefit 0 60 Total Benefits $109, $1,298, Amount NonBenefit Expenditures $0.00 Actuarial Fees Audit Fees $7, Bank Trust Fees $7, Fees $1~Q69.70 nvestment Managers' Fees $57, Travel Expense ~$'8~12.78 nvestment Consultant Education & Training Professional $1,298, $ Memberships Fiduciary nsurance Physicians' Fees Legal Fees Administrative $3, Salary Expense Furniture and Equipment Office Overhead Miscellaneous $69.28 (postage, checks, etc. Other (indicate type of expense Total NonBenefit $97, Expenditures $1,396, Total Disbursements $97, Disbursements Page 6
7 \.. December 31,2010..,~~o~~. *"~"B* ~ v.r.~ ~~~~ '''CO!;l''~ Net ncome Total Revenue $2,642, Total Expenses $1,396, Net ncome (Total Revenues" Total Expenses $1,246, Comparing End of Year Assets Calculated End of Year Assets (Beginning Assets+Total RevenuesTotal Expenses $10,101, Total Assets at Year End $10,101, Difference (Calculated Year End Assets" Computed Year End Total Assets $0.00 5/25/2011. Agproximate Rate of Return for the Year 11.40%1 Number of Active Fire Fighters During the Reporting Year ]f 1 ~ Financial nformation Attested to B Date / to\ '2..~\ \ ( G:,\2~\\(, { ~ Re Date ~ 5/24/2010 Signature Page 7
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