Laredo Firefighters Retirement System

Laredo Firefighters Retirement System

The City of Laredo Firefighters' Retirement Fund provides defined-benefit pensions to firefighters employed by the City of Laredo. Established under the Texas Local Fire Fighters Retirement Act (TLFFRA), the system is locally governed by a board of trustees that includes both elected firefighter representatives and city-appointed members. Pension Administrator Jaime Jasso oversees day-to-day operations. The fund's sole mission is sustaining retirement security for municipal first responders in this South Texas border city. The fund allocates across a diversified mix of real estate, energy, and natural resources, primarily through a fund-of-funds approach. Real estate commitments include the Raith Real Estate Fund III, a mixed-use vehicle, and the Cohen & Steers U.S. Realty Fund targeting commercial assets. In energy, the portfolio holds positions in Scout Energy Partners, VIA Energy Opportunities Fund III-A, and the Tortoise MLP & Pipeline Fund — a midstream energy infrastructure strategy. The JP Morgan Alerian MLP Fund provides additional master limited partnership exposure. The strategy tilts toward income-producing hard assets and energy infrastructure, reflecting the liability-driven needs of a mature municipal pension. The fund is a member of the Texas Association of Public Employee Retirement Systems (TEXPERS) and the National Conference on Public Employee Retirement Systems (NCPERS), using these networks for trustee education and industry benchmarking. Board members include District 2 Council Member Ricardo Rangel, Jr. and District 5 Council Member Ruben Gutierrez, Jr. In 2024, Oscar Delgado was elected as a firefighter trustee, per the fund's public governance records. Unlike major state pension systems, Laredo Firefighters' operates as a standalone local fund — its board answers directly to plan participants and the TLFFRA governing statute, not to the Texas legislature or a consolidated state investment council. This localized governance means the board selects and monitors external managers directly, placing a premium on accessible, yield-oriented strategies that fit a sub-$300M institutional pool.