The El Paso Firemen & Policemenís Pension Fund (ďthe PlanĒ) was created in May, 1920. It is established and maintained pursuant to Article 6243(b), Vernonís Annotated Texas Statute. It is divided into two divisions, a Policemenís Fund and a Firemenís Fund, both managed by a common Board of Trustees and administrative staff. The statute charges the Board of Trustees with the Planís administration, and is comprised of eleven (11) members. Composition of the Board is mandated by Texas statute which states that three will be firefighters (elected by fire membership), three police officers (elected by police membership), three appointed by the Mayor of El Paso, and two appointed by the City Manager of El Paso.
These men and women volunteer many hours of their own time in service for the Fund and are not compensated for their time.
The Fund is a single employer defined benefit plan under Section 401(a) of the Internal Revenue Code (ďCodeĒ) of the United States. It provides retirement, survivor, and disability benefits to the uniformed public safety employees of the City of El Paso. Benefits are determined based on a memberís years of covered service, average salary, and a multiplier percentage.