Pension Fund Growth History Through 2017

Dear Retirees:

A state law was passed in 1937 creating a statewide network for firefighter pension plans. This network included about 38 fire departments known today as TLFFRA or the Texas Local Fire Fighters Retirement Act. The Austin firefighters officially joined this group in 1942 establishing the Austin Firefighters Relief and Retirement Fund. In 1975, a bill was passed in the State Legislature which created the pension plan that pertains only to the Austin firefighters which we currently operate under today.

 

The first fund administrator was Mr. Frankie Raymond who was an Austin firefighter "assigned" to this position by his fellow firefighters on the pension board in 1953. Mr. Raymond retired as an Austin firefighter in 1973 and continued as the administrator until 1985. Bill Stefka was hired in 1985 to take Mr. Raymond's place as the fund administrator.

AT YEAR END                                                         1953*           1961*              1985                  2000                     2017

TOTAL FUND MARKET VALUE                             $329,000     $1,028,000     $40,000,000      $412,000,000      $954,000,000

# OF ACTIVES                                                         50                 269                  589                     921                       1045

# OF RETIREES                                                       0                   32                     166                     347                       744

ANNUAL FIREFIGHTER STARTING PAY               ?                   $4,200              $20,000             $32,000                $56,000

AVERAGE AGE OF FIREFIGHTERS                        ?                   ?                         ?                         38                          42

AVERAGE YEARS OF SERVICE                               ?                   ?                         ?                         12                          14

AVERAGE AGE AT ENTRY                                      ?                   ?                         ?                         26                          28

PENSION % CONTRIBUTION BY FIREFIGHTER  ?                   4%                     13.7%                13.7%                    18.7%

PENSION % CONTRIBUTION CITY OF AUSTIN  ?                   4%                     14.05%              18.05%                  22.05%

RETIREES AVG. GROSS MONTHLY PENSION     0                  $100                  $1,800               $3,000                   $4,500

*Data is scarce for these years. Some figures are approximate, based upon best available information.

Contact Us

Austin Fire Fighters Relief and Retirement Fund

Tel: 512-454-9567

Email: staff@afrs.org

Address: 4101 Parkstone Heights Drive.

                Suite 270

               Austin, TX 78746

©2018 BY AUSTIN FIREFIGHTERS RELIEF AND RETIREMENT FUND.