ProfileFY2024 PRB Verified
Laredo FF sits at #4 of 42 Texas Local Fire Fighters Retirement Act (TLFFRA) plans by assets under management (AUM). Its FY2024 funded ratio of 59.27% is below the TLFFRA simple mean of 65.6%. The plan's effective amortization period of 37.1 years is well above the PRB's 30-year statutory maximum. The 7.10% discount rate is more conservative than the TLFFRA median of 7.25%. The plan uses Entry Age Normal cost method and a fixed contribution policy.
Plan AdministrationLocal Board · Local Operations
Phone (PRB filing)
(956) 717-8018
Mailing Address
PO Box 3069, Laredo, TX 78044
Source: PRB plan-detail page #220.
Membership & ContributionsPRB Filing
Active / Annuitant Ratio
1.81
Employee Contribution
16.00% of pay
Employer Contribution
22.60% of pay
Source: PRB plan-detail page #220.
Benefit TermsTier 1 Provisions
Normal Retirement
Age/YCS: 50/20
Benefit Formula (Tier 1)
3% x FAS x YCS (Max 90%)
Final Average Salary
Highest 3 years
COLA
Ad hoc based on financial condition of the system as determined by the actuary
Source: PRB plan-detail page #220. Tier 1 reflects the primary benefit tier; some plans have a separate Tier 2 for members hired after a specified date. See the PRB page for full plan provisions.
Service ProvidersActuary · Custodian · Advisor · Auditor
Service providers: Not separately published in PRB filings or on the fund's public materials. TLFFRA boards typically retain an independent actuary, a bank custodian, an investment consultant, and an external auditor. Service-provider engagements are local-board records and typically become public through board minutes (available by request from the plan administrator) or in the audited financial statements filed with the PRB. The fund's website (linked above) often lists current providers under a "Service Providers" or "Board" tab.
Sponsoring AgencyLaredo Fire Department
Sponsoring Fire Department: The Laredo Fire Department covers the City of Laredo, Webb County. The fund covers 438 active firefighters and 242 annuitants as reported on the PRB-1000 filing. Department-level operational detail (station count, apparatus, accreditation, ISO rating) is not separately tracked in TLFFRA filings; the City of Laredo's fire department web page is the canonical source.
FY2024 Financials & Actuarial DetailTexas Pension Review Board
Market Value of Assets
$247,851,777
Actuarial Value of Assets
$227,287,139
Actuarial Accrued Liability
$383,476,988
Funded Ratio (Actuarial)
59.27%
Effective Amortization
37.1 years
Inflation Assumption
2.75%
Total Expenses (% of Assets)
0.256% (25.6 bps) #2 of 42 (lowest=best)
Cost Method
Entry Age Normal
View this plan's full PRB record →
Expense ratio note: The "Total Expenses (% of Assets)" line is the PRB's published total operating expenses (administrative + investment-related) as a percentage of net assets, sourced from each plan's annual financial report. Per the PRB's own disclaimer: "Due to inconsistencies in reporting of investment expenses, this data may not be an entirely accurate depiction of true investment-related expenses paid." Lower is generally better but cohort context matters. Smaller funds carry higher fixed administrative costs. The 42-fund average is 0.708% (70.8 bps); median is 0.675% (67.5 bps). Source: PRB expenses CSV →