El Paso Firemen & Policemen's Pension Fund

El Paso Firemen & Policemen's Pension Fund The El Paso Firemen & Policemen’s Pension Fund provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City.
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Operating as usual

04/06/2020

Dear NCPERS Members:

As a community, public pensions have come to understand that there are some journalists who will never give us a fair shake. Nevertheless, I found Mary Williams Walsh's of The New York Times latest column to be jaw-droppingly crass. ("Coronavirus Is Making the Public Pension Crisis Even Worse," April 2, 2020).

It takes a certain kind of nerve-chutzpah, some would call it-to launch such an attack in the middle of a crisis, when people are dead and dying and nations are spending tens of trillions of dollars to beat back a pandemic. If Walsh's only contribution is to report on the trumped-up "crisis" within public pensions, readers of The New York Times deserve better. We all do.

While we aren't in charge of that decision, but we have let the editors know our opinion. Our Letter to the Editor we submitted on April 2 is reprinted below. If it isn't published by April 6, we will post it as a comment and I hope all NCPERS members will "recommend" our comment.

April 2, 2020

To the Editor:

While I'm hard pressed to think of a single time Mary Williams Walsh has ever published a balanced, let alone positive, thought on public pensions, her latest column is jaw-droppingly crass. ("Coronavirus Is Making the Public Pension Crisis Even Worse," April 2, 2020) In the middle of a crisis, when people are dead and dying and nations are spending tens of trillions of dollars to beat back a pandemic, her contribution to the public discourse is that the public pension sky is falling.

News flash: Governments and businesses are working frantically against a health threat no one yet fully understands while tirelessly endeavoring to stabilize the global economy. In the midst of it, however, public pensions continue to do our part. Pension systems are issuing checks as they always do, providing stable income to retirees, powering spending in communities, and providing revenue to governments. They are a source of calm and confidence in the midst of chaos. All this is happening at a time when the stability that pensions provide is in woefully short supply.

The very essence of public pensions is long-term thinking. Pensions are in it for the long haul. For a more than 150 years, public pensions have steadily delivered modest but reliable retirement income to millions of dedicated public servants like the nurses, doctors, and EMS personnel who are on the coronavirus frontlines. Pensions have withstood and rebounded from crisis after crisis. Their focus right now is on helping members through the turmoil and delivering on their promises.

If Ms. Walsh's contribution is to report on the trumped-up "crisis" within public pensions, maybe she should take a breath and save precious space in The New York Times for truly valuable reporting on the coronavirus crisis.

Respectfully,

Hank H. Kim
Executive Director and Counsel
National Conference on Public Employee Retirement Systems
Washington, D.C.
[email protected]
202-624-1458

March 18, 2020Members,As you have seen on TV, COVID-19 has caused quite a bit of volatility in the stock market.  Your B...
03/18/2020
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March 18, 2020

Members,

As you have seen on TV, COVID-19 has caused quite a bit of volatility in the stock market. Your Board of Trustees and Staff is monitoring the markets diligently. This is not the first time the market has turned downward and there were lessons learned from 2009. What was learned from the Great Financial Crisis in 2009 was diversification is king. Your Pension Fund is well diversified to ride these kind of market conditions. Of course, during these times when everything is down the Fund will be down but with our conservative investing approach, we are well prepared to ride this storm. Pension payments will go out monthly as always.

We have been on a 12-year bull market and the bear was bound to rear his ugly head. When the market turns positive again, and it will, your Fund will capture those returns and earn back what was lost in 2020. I have no doubt that your trustee’s diligence in picking experienced and professional investment managers will pay off. This is why your trustee’s and staff spend so much time and effort doing their due diligence when picking and monitoring your managers.

To place it in perspective, 10 year ago during the last crisis your Fund was worth approximately $800 million dollars. Over the last 10 years your Fund paid out roughly $700 million to retirees and as of December 31, 2019 the Fund was worth $1.6 billion. Your investment managers did their job and put this Fund on solid ground.

We will get through this and come out on the other side stronger and wiser. Thank you for your confidence in the Board of Trustees and Staff. Stay safe and please enroll in our self-service portal where you can accomplish many changes to your account straight from your home computer.

www.elpasofireandpolice.org

Thank you,

Tyler Grossman
Executive Director/CIO
El Paso Firemen & Policemen’s Pension Fund

March 16, 2020Members,Given the events of the last month reference COVID-19 your Pension Fund office has taken steps to ...
03/18/2020

March 16, 2020

Members,

Given the events of the last month reference COVID-19 your Pension Fund office has taken steps to ensure it stays running for our active and retired members. Below is an update on what we are doing and how we are preparing for anything that happens. First and foremost, your staff is fine and operations are running as normal.

We have set up secure access for your staff to work from home in order to accomplish their job if need be. This assures that no member goes without being paid. It also allows us to handle our work load and monitor investments.

Working from home is for the worst-case scenario. For our current situation, staff has been advised to allow access to only those persons necessary for operations. Benefit Specialists will not be taking appointments but will be handling all services over the phone, email, and docusign. This will mean there will be no access to the facility by any member. Allowing members to handle items virtually which normally required personal contact will hopefully expedite the process so they can stay on the front lines where they are needed.

Staff have been advised to stay home if feeling ill and wash their hands every time they enter the building. They will use the phone or intercom as much as possible with each other as well. We will also be sanitizing door handles and items after work hours.

Thank you for your service and understanding if there is not a staff member you can meet in person during these times. As soon as normal business can resume, we will advise. Stay safe out there and your staff will keep your Fund safe.

Thank you,

Tyler Grossman
Executive Director
El Paso Firemen & Policemen’s Pension Fund

08/05/2019
Texas Association of Public Employee Retirement Systems (TEXPERS)
02/12/2019
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

Research shows that traditional defined-benefit pensions for public employees are more cost effective than 401(k)-like plans. Read this post from the NPPC to learn the truth. #Pensions #Retirement #TxLege

01/30/2019
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

AUSTIN (Jan. 23, 2019) – The Texas House and Senate passed resolutions today recognizing the Texas Association of Public Employee Retirement Systems for its 30 years of educational and legislative advocacy for the pension plans relied on by cities, counties and special districts for their public employees.

Rep. John Wray, R-Waxahachie, sponsored House Resolution 64 and Sen. Robert Nichols, R-Jacksonville, sponsored its Senate companion.

HR 64 recognizes TEXPERS’ role in assisting pension systems to deliver retirement security for police officers, firefighters, and municipal employees, as well as employees at airport and water district authorities, hospital districts and community colleges.

HR 64 notes the importance pension funds have on the Texas economy, acknowledging that retiree spending of pension earnings creates a $29 billion stimulus and $4.4 billion in federal, state and local tax revenue. The “Pensionomic” benefits of Texas and other states’ pensions was recently identified in a report by the National Institute on Retirement Security.

“Public employees play a critical role in the operations of cities and counties in our state. In particular, when we call on them to respond during natural disasters such as fire, flood, or other disasters, they take care of us. For 30 years, TEXPERS has been taking care of them by supporting and assisting our public pension systems," Wray said.

Texas Association of Public Employee Retirement Systems (TEXPERS)
11/02/2018
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

TEXPERS' membership works to ensure police officers, firefighters, city workers and educators earn and receive their promised retirement benefits. For those itching to cast their vote in the upcoming general election Nov. 6 but need help getting to the polls, there is help available. #2018midterms #election2018 #VoteTexas #Pensions #Retirement

Texas Association of Public Employee Retirement Systems (TEXPERS)
10/17/2018
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

Our friend at NCPERS, Hank Kim, says this Governing.com column "oversimplifies and generalizes about public pension boards" and "recycles the Manhattan Institute's dog-eared critiques of the most time-tested system of ensuring retirement security. Perhaps a refresher is in order." NCPERS published comments to the column. Click the link below and scrollto the bottom of the column for Kim's response. #ProtectPensions #Retirement #TEXPERS2018

"Sen. Cruz Introduces Legislation to Improve Social Security Benefits for Teachers, First Responders, Law Enforcement, a...
10/02/2018
Sen. Cruz Introduces Legislation to Improve Social Security Benefits for Teachers, First Responders, Law Enforcement, and Other Public Servants

"Sen. Cruz Introduces Legislation to Improve Social Security Benefits for Teachers, First Responders, Law Enforcement, and Other Public Servants"
https://www.cruz.senate.gov/?p=press_release&id=4116

U.S. Sen. Ted Cruz (R-Texas) this week introduced the Equal Treatment of Public Servants Act of 2018 (S. 3526), which would ensure that teachers, first responders, law enforcement officers, and other public servants receive Social Security benefits calculated from their work history. Reps. Kevin Bra...

10/01/2018
National Public Pension Coalition

National Public Pension Coalition

The Koch Brothers want to take money out of working Americans' pockets and give it to Wall Street. Their plan of attack? Setting up "research institutions" that will discredit pensions.

09/12/2018
EPFPPF News, Vol 2 (Sep1218)

In this video, EPFPPF Executive Director Tyler Grossman discusses recent developments with the pension fund.

Texas Association of Public Employee Retirement Systems (TEXPERS)
09/09/2018

Texas Association of Public Employee Retirement Systems (TEXPERS)

Did your grandmother work in law enforcement? Honor your grandmother this Grandparents Day by telling your elected officials to continue offering secure retirement benefits for all public employees. #Retirement #ProtectPensions #TEXPERS2018 #GrandparentsDay

06/27/2018
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

Many public defined-benefit plans already contain hybrid plan elements, shifting risk from the employer to employees. Hybrid plan elements used in public DB plans include employee contributions or benefits linked to investment performance or actuarial condition. Read this issue brief from NASRA: https://buff.ly/2ltooeA #pensions

Texas Association of Public Employee Retirement Systems (TEXPERS)
06/24/2018

Texas Association of Public Employee Retirement Systems (TEXPERS)

Pension benefits for employees of state and local governments are paid from trust funds to which public employees and their employers contribute during employees’ working years. Timely contributions are vital to adequate funding and the sustainability of these plans: failing to pay required contributions results in higher future costs, due to foregone principal and investment earnings that the contributions would have generated. Learn more: https://www.nasra.org/adcbrief#muniland #ProtectPensions #TxLege

06/13/2018
EPFPPF News, Vol. 1 (Jun1318)

In this video, EPFPPF Executive Director Tyler Grossman discusses recent developments with the pension fund.

05/30/2018
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

Dismantling secure retirement plans for public employees such as police & firefighters hurts local economies. National Conference on Public Employee Retirement Systems (NCPERS) #TxLege #Pensions #Retirement #ProtectPensions

05/17/2018
Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS)

Spending pension checks and pension asset investments both impact the Texas economy in a positive way. State and local pension fund assets of $239 billion result in a $52.8 billion contribution to the economy and $8.7 billion to state and local revenues. @NCPERS #ACE18 #TxLege #ProtectPensions #Retirement

Texas Association of Public Employee Retirement Systems (TEXPERS)
05/15/2018

Texas Association of Public Employee Retirement Systems (TEXPERS)

"The asset allocations for Texas' public employee retirement systems demonstrates that, in aggregate, the respondents have a level of diversification within the norm for public pension systems."

Learn more at https://tinyurl.com/2018-asset-allocation-study

Texas Association of Public Employee Retirement Systems (TEXPERS)
05/04/2018

Texas Association of Public Employee Retirement Systems (TEXPERS)

“The role of a firefighter in today’s society – be it urban, rural, natural environment, volunteer, career, industrial, defense force, aviation, motorsport, or other is one of dedication, commitment and sacrifice – no matter what country we reside and work in. In the fire service, we fight together against one common enemy – fire – no matter what country we come from, what uniform we wear or what language we speak.” – Lt JJ Edmondson, 1999 #firefightersday

Address

909 E San Antonio Ave
El Paso, TX
79901-2523

General information

Created in 1920, the El Paso Firemen & Policemen’s Pension Fund provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City of El Paso. The Fund has two divisions, a Policemen’s Fund and a Firemen’s Fund. An 11-member Board of Trustees and administrative staff manage both divisions. The board includes three elected firefighter trustees, three elected police trustees, three mayor-appointed trustees, and two city manager-appointed trustees. Trustees volunteer and are not compensated for their time in service to the Fund.

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00

Telephone

(915) 771-8111

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