Big Spring Firemen's Relief Retirement Fund

Big Spring Firemen's Relief Retirement Fund

The Big Spring Firemen's Relief Retirement Fund is a defined-benefit pension plan serving firefighters in Big Spring, Texas. Established under the Texas Local Firefighters' Retirement Act, the fund's board includes the Mayor of Big Spring, Robert H. Moore III, Finance Director Sandy Smith, Chairman Paul Brown, and additional firefighter and citizen trustees. Plan administration is managed by Thomas Ferguson. The fund is an active member of the Texas Association of Public Employee Retirement Systems (TEXPERS), where Chairman Brown also serves on the board of directors. As a small municipal pension plan with an estimated $15 million in assets (Altss estimate), the fund maintains a conservative asset allocation designed to meet near-term benefit obligations. Typical portfolios of this size and type concentrate in investment-grade fixed income, US equities, and cash equivalents, generally accessed through commingled vehicles rather than direct co-investments. While specific holdings are not publicly disclosed, the fund's regulated status under Texas pension law and its TEXPERS membership suggest a diversified, manager-of-managers approach with limited alternatives exposure. Governance rests with a hybrid board that combines ex-officio city officials — the mayor and finance director — with firefighter representatives and citizen appointees. This structure, mandated by the Texas Local Firefighters' Retirement Act, is replicated across dozens of similar Texas pension plans. Chairman Paul Brown's dual role on the TEXPERS board gives the fund direct exposure to the association's educational programs, legislative advocacy, and peer-sharing forums. TEXPERS represents over 80 Texas public pension systems and provides a professional network that shapes investment policy and fiduciary practice for its member funds. Structurally, the fund differs from general-obligation municipal pensions in that it serves only firefighters and is governed by a specialized state statute rather than the Texas Municipal Retirement System. This narrow beneficiary base allows for benefit formulas calibrated to public-safety careers, which typically permit earlier retirement ages than general city employee plans. The fund's statutory isolation also limits commingling risk with broader city obligations — a feature that has protected similar Texas firefighter pensions during municipal fiscal stress.