FY2024 PRB Data · 42 Plans

Forty-two TLFFRA pension funds. One reference.

A trustee-built companion to the Texas Pension Review Board (PRB). Sort by funded ratio. Filter by asset size. Compare any four plans head-to-head. Forty-two plan profiles, none of them more than two clicks away.

42
TLFFRA Plans
$2.96B
Total AUM
72.1%
Weighted Funded Ratio
65.6%
Mean Funded Ratio
All 42 Plans

Plan directory.

Click a column header to sort. Check a row to add it to the comparison panel. Click any plan name for the full FY2024 profile.

42 plans visible
  Fund City AUM Funded Amort Discount Active EE / ER SS Type  
Funded ≥90% / Amort ≤25y Funded 70-90% / Amort 25-30y Funded <70% / Amort >30y or Infinite
Select 2-4 plans above to compare side by side.
Funding shape

Where the 42 plans sit.

A trustee-level view of funding health, amortization runway, and asset size across the system.

Funded Ratio
≥ 100% (Overfunded)2
90-100%2
80-90%4
70-80%6
60-70%13
50-60%5
< 50%10
Amortization Period
≤ 15 yrs7
15-25 yrs16
25-30 yrs7
30-50 yrs9
> 50 yrs2
Infinite1
Asset Size (AUM)
> $500M0
$100M-$500M7
$50M-$100M15
< $50M20
Statutory Trigger

FSRP and the 40-year line.

Texas Government Code § 802.2015 requires a Funding Soundness Restoration Plan (FSRP) when a plan's amortization period exceeds 40 years. The plan and its sponsoring municipality must jointly file a written plan with the Pension Review Board (PRB) describing how amortization will be brought below 40 years within ten years of adoption (or sooner if the law's tighter trigger applies).

Plans above 40-year amort.
3

Above the FSRP trigger, with a finite amortization period.

Plans with infinite amortization
1

Current contributions do not fully amortize the UAAL on the current schedule.

Plans funded under 50%
10

A separate measure of funding health, independent of amortization runway.

Canonical, current FSRP status by plan: prb.texas.gov/funding-soundness-restoration-plan-fsrp.

Acronym Glossary

The terms, defined.

Drawn from PRB filings, TLFFRA boards' adopted-policy documents, and the Government Finance Officers Association (GFOA) reference vocabulary.

AAL
Actuarial Accrued Liability. The present value of future benefits attributable to past service.
AVA
Actuarial Value of Assets. Smoothed market value used to dampen year-over-year asset volatility in funded ratio calculations.
AUM
Assets Under Management. Total fund assets at market value, FY2024.
Funded Ratio
AVA divided by AAL. Higher is better. A ratio at or above 80 percent is generally considered well-funded.
Amortization Period
Years required to fully fund the unfunded actuarial accrued liability (UAAL) at current contribution rates. The PRB recommends 25 years or fewer. Periods above 40 years trigger a Funding Soundness Restoration Plan.
Discount Rate
Long-term investment return assumption. Used to discount future liabilities to present value.
EAN
Entry Age Normal. The actuarial cost method most TLFFRA plans use to allocate costs evenly over a member's career.
PUC
Projected Unit Credit. Alternative actuarial cost method used by a few TLFFRA plans.
Fixed Contribution
Plan contribution rates are set in statute and do not actuarially adjust. Most TLFFRA plans use this structure.
ADC
Actuarially Determined Contribution. Rate calculated each year to maintain plan funding. Used by ADC-structured plans instead of Fixed.
FSRP
Funding Soundness Restoration Plan. Required by Texas Government Code Sec. 802.2015 when a plan's amortization period exceeds 40 years.
PRB
Texas Pension Review Board. The state agency that oversees and reports on Texas public retirement systems.
MET
Minimum Educational Training. The PRB-required curriculum trustees and administrators must complete (7 hours first year, 2 hours per year thereafter).
COLA
Cost-Of-Living Adjustment. Periodic benefit increase, typically tied to CPI or granted ad hoc by the board.
FAS
Final Average Salary. The salary base used in the benefit formula, typically the highest 36 or 60 months of pay.
YCS
Years of Credited Service. Service used in the benefit formula and for retirement eligibility (a '50/20' rule means age 50 with 20 years of service).
UAAL
Unfunded Actuarial Accrued Liability. AAL minus AVA. The shortfall the amortization period addresses.
Normal Cost
The portion of liability allocated to the current year of service, distinct from prior-service cost.
SS Participation
Whether the plan's members also participate in Social Security. Most TX firefighter plans do not.
TLFFRA
Texas Local Fire Fighters Retirement Act (1937). The state statute that authorizes paid TX firefighters to form locally-controlled defined-benefit pension plans.