Corpus Christi Fire & Rescue Pension Fund
public plan · City of Corpus Christi · Austin, TX
Funding History
What This Means for You
Corpus Christi Fire & Rescue Pension Fund is significantly underfunded at 50%, with $830.3M in unfunded liabilities affecting 6,476 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $845.2M | $1.7B | 50.4% | $28.2M |
| 2024 | $842.9M | $1.9B | 45.5% | $35.0M |
| 2023 | $775.5M | $1.5B | 52.2% | $33.5M |
| 2022 | $731.6M | $1.5B | 50.3% | $28.4M |
| 2021 | $703.6M | $1.4B | 49.3% | $34.6M |
Frequently Asked Questions
Corpus Christi Fire & Rescue Pension Fund is 50% funded, meaning it has 50 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Corpus Christi Fire & Rescue Pension Fund has 6,476 total participants, including 2,736 active employees and 3,740 retirees currently receiving benefits.
Corpus Christi Fire & Rescue Pension Fund is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.