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Irving Firemen's Relief and Retirement Fund
The Irving Firemen's Relief and Retirement Fund (IFRRF) provides retirement, disability, and death benefits to the firefighters of Irving, Texas.
Irving Firemen's Relief and Retirement Fund
The Irving Firemen's Relief and Retirement Fund (IFRRF) provides retirement, disability, and death benefits to the firefighters of Irving, Texas. Governed by a Board of Trustees chaired by David Florance and joined by city CFO Bret W. Starr, the fund operates under Chapter 86 of the Texas Local Fire Fighters Retirement Act, a statutory framework that shapes its governance, contribution rates, and actuarial oversight. The City of Irving functions as the sponsoring municipality, channeling employer contributions into the system. Strategy centers heavily on secondaries, with the fund repeatedly flagged for secondary-market commitments as a primary deployment channel. Asset-class exposure extends into direct commercial real estate through vehicles like the Principal U.S. Property Fund and the JP Morgan Strategic Property Fund, alongside a mixed-use investment in Texas via the Moriah Group. Public-equity holdings include common stock in Uber Technologies, confirming a cross-asset posture that spans private funds, direct property, and listed equities — all oriented toward generating the returns needed to meet actuarial liabilities. The fund participates in industry benchmarking through the National Conference on Public Employee Retirement Systems (NCPERS) and the Texas Association of Public Employee Retirement Systems (TEXPERS). These memberships provide peer-comparison data, legislative advocacy, and trustee education — critical for a niche municipal plan operating without a disclosed internal investment staff. The Texas Pension Review Board maintains statutory oversight, adding a layer of state-level transparency and solvency monitoring that distinguishes Texas public retirement plans. The structural differentiator is a governance architecture that embeds city financial leadership directly into the boardroom. Bret W. Starr's dual role as Trustee and chief financial officer of Irving creates a direct line between municipal fiscal strategy and pension investment decisions — aligning the fund's health with the city's broader balance sheet while concentrating fiduciary judgment in a small, appointed group.
General information
Firm type
Pension Fund
Year founded
1945
Location
Region
North America
Country
United States
City
Irving
Corporate office
Irving, TX, United States
Principals
David Florance
Chairman of the Board of Trustees
Bret W. Starr
Trustee, Chief Financial Officer of the City of Irving
Sector focus
Frequently asked questions
Who runs investment decisions at the Irving Firemen's Relief and Retirement Fund?
Investment decisions fall under the Board of Trustees, chaired by David Florance. The board includes Bret W. Starr, who serves simultaneously as Irving's city chief financial officer. The fund does not publicly disclose a dedicated internal investment staff, suggesting that the trustees, likely with input from external consultants, direct the portfolio strategy themselves.
How is the fund's investment strategy shaped by Texas law?
The fund operates under the Texas Local Fire Fighters Retirement Act (TLFFRA), which establishes permitted asset classes, governance structure, and actuarial funding standards. The Texas Pension Review Board also exercises state-level oversight, monitoring for transparency and solvency.
What is the fund's known posture on secondary-market commitments?
Secondary-market transactions appear to be a central pillar of the fund's private-markets strategy. Repeated public disclosures and strategy tagging point to a heavy reliance on secondaries as a way to access private equity and real estate exposure with shorter duration profiles, which can offer more flexibility for a mature pension plan managing liquidity needs.
What direct real estate investments does the fund hold?
The fund holds positions in the Principal U.S. Property Fund and the J.P. Morgan Strategic Property Fund, both core U.S. commercial real estate vehicles. It also maintains a mixed-use real estate investment in Texas through the Moriah Group, signaling a dual approach of institutional fund commitments and direct regional exposure.
Is the fund strictly a single-family or multi-family office?
No. The Irving Firemen's Relief and Retirement Fund is a public defined-benefit pension plan. It is not a family office or private wealth manager; it exists to provide retirement and disability benefits exclusively to the firefighters employed by the City of Irving.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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