Laredo Fire & Rescue Pension Fund
public plan · City of Laredo · Fort Worth, TX
Funding History
What This Means for You
Laredo Fire & Rescue Pension Fund is significantly underfunded at 58%, with $958.3M in unfunded liabilities affecting 6,231 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 | $1.3B | $2.3B | 58.0% | $68.2M |
| 2024 | $1.3B | $2.4B | 55.7% | $83.7M |
| 2023 | $1.3B | $2.2B | 56.4% | $74.4M |
| 2022 | $1.2B | $2.2B | 52.7% | $78.5M |
| 2021 | $1.1B | $1.9B | 58.5% | $90.7M |
Frequently Asked Questions
Laredo Fire & Rescue Pension Fund is 58% funded, meaning it has 58 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Laredo Fire & Rescue Pension Fund has 6,231 total participants, including 3,163 active employees and 3,068 retirees currently receiving benefits.
Laredo 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.