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To: Pension Recipients
From: Bill Stefka, Administrator
Date: September 17, 2018
Re: 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' AVERAGE 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.