# Laredo Firefighters Retirement System

Laredo Firefighters Retirement System is a Pension Fund based in Laredo, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Laredo, United States
- **Region:** North America
- **Address:** Laredo, TX, United States
- **Assets under management:** ~$252M (Altss estimate)
- **Website:** laredofire.com

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Real Estate
- Energy Transition & Renewables
- Natural Resources
- Private Credit

## People

- Jaime Jasso — Pension Administrator
- Ricardo Rangel, Jr. — Board of Trustees
- Ruben Gutierrez, Jr. — Board of Trustees
- Oscar Delgado — Firefighter Trustee-Elect

## Questions

### Who governs the City of Laredo Firefighters' Retirement Fund?

The fund is governed by a local board of trustees operating under the Texas Local Fire Fighters Retirement Act (TLFFRA). The board includes both firefighter-elected trustees and city-appointed members from Laredo's city council. As of 2024, known board members include District 2 Council Member Ricardo Rangel, Jr., District 5 Council Member Ruben Gutierrez, Jr., and Firefighter Trustee-Elect Oscar Delgado.

### Does the fund make direct investments or commit to external funds?

The fund primarily commits to external funds managed by third-party investment firms rather than making direct investments. The portfolio includes positions in private real estate funds, energy-focused limited partnerships, and publicly registered master limited partnership strategies. This fund-of-funds structure suits a sub-institutional pool that lacks a large internal investment staff.

### How is the Laredo Firefighters' Retirement Fund different from a statewide Texas pension?

Unlike the Texas Municipal Retirement System or the Employees Retirement System of Texas, Laredo's firefighters operate an independent local pension fund. Its board is not accountable to the Texas Legislature for investment decisions, only to plan participants and the TLFFRA statute. This gives the board full discretion over manager selection and asset allocation within its statutory framework.

### What is the Texas Local Fire Fighters Retirement Act?

The Texas Local Fire Fighters Retirement Act (TLFFRA) is a state statute that authorizes municipalities to establish locally-controlled pension systems for firefighters. It provides the legal framework for governance, investment authority, and benefit administration. The Laredo Firefighters' Retirement Fund is one of multiple TLFFRA-governed systems operating independently across Texas cities.

## Related profiles

- [Wortham Foundation](https://altss.com/profile/wortham-foundation)
- [University of Texas Law School Foundation (UTLSF)](https://altss.com/profile/university-of-texas-law-school-foundation-utlsf)

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Last updated: 2026-07-08T21:49:21.895Z

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