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Waxahachie Firemen's Relief and Retirement Fund
The Waxahachie Firemen's Relief and Retirement Fund was established in 1941 to provide retirement, disability, and death benefits for the career firefighters...
Waxahachie Firemen's Relief and Retirement Fund
The Waxahachie Firemen's Relief and Retirement Fund was established in 1941 to provide retirement, disability, and death benefits for the career firefighters of Waxahachie, Texas. The fund operates as a single-employer defined-benefit plan under the Texas Local Fire Fighter Retirement Act and the Texas Government Code. Governance rests with a local Board of Trustees, which includes Chairman Matt Dorsey, Vice Chairman Jeff Aycock, Secretary Shane Petty, and City Finance Director Chad Tustison. The City of Waxahachie is the plan sponsor and primary contributor. The fund's investment posture is conservative and structured for predictable benefit disbursement, reflecting its statutory mandate as a municipal firefighter pension. Allocations are directed through mutual fund portfolios, with identifiable positions in real estate mutual funds and a separate commercial real estate portfolio. The fund also holds a direct fiduciary net position in Waxahachie and has participated in private real estate vehicles, including Central Park Group Private Real Estate in New York, pointing to a strategy that blends liquid mutual funds with select illiquid property holdings for income generation. The fund administers assets for the city's firefighting personnel through a five-member Board of Trustees. Gary Myers, the fund's administrator and former chairman, oversees day-to-day operations alongside board leadership. The fund participates in the Texas Association of Public Employee Retirement Systems (TEXPERS) and its annual asset allocation and performance studies, providing a peer benchmarking mechanism common among Texas municipal retirement systems. No adjacent operating businesses, co-investment clubs, or separate philanthropic structures are in evidence. Its structural differentiator is deep statutory embedding: the fund exists because the Texas Legislature created the governing framework for local firefighter pensions, and it operates with the City of Waxahachie as both employer and contributor. That architecture produces governance heavily influenced by municipal personnel and constrained by state law, making investment decisions inherently more conservative and process-driven than for private-sector plans of similar size.
General information
Firm type
Pension Fund
Year founded
1941
Location
Region
North America
Country
United States
City
Waxahachie
Corporate office
Waxahachie, TX, United States
Principals
Matt Dorsey
Chairman of the Board of Trustees
Jeff Aycock
Vice Chairman of the Board of Trustees
Shane Petty
Secretary of the Board of Trustees
Chad Tustison
Finance Director, City of Waxahachie and Trustee
Gary Myers
Fund Administrator, former Chairman
Sector focus
Frequently asked questions
Who runs investment decisions at Waxahachie Firemen's Relief and Retirement Fund?
Investment decisions are governed by the five-member Board of Trustees. Chairman Matt Dorsey leads the board, with Vice Chairman Jeff Aycock and Secretary Shane Petty serving as officers. Chad Tustison, the City of Waxahachie Finance Director, sits on the board, and Gary Myers serves as the fund's administrator. The board's authority is defined by the Texas Local Fire Fighter Retirement Act.
How is the plan funded, and who contributes?
The City of Waxahachie serves as the plan sponsor and primary contributing employer. The fund is structured as a single-employer defined-benefit plan, meaning the city bears the actuarial responsibility for ensuring assets meet future benefit obligations. Contribution levels are determined by state statute and periodic actuarial valuations.
What does the fund's investment allocation look like?
The roughly $25 million portfolio allocates across mutual fund structures, with a clear emphasis on real estate. Holdings include real estate mutual funds, a separate commercial real estate portfolio, and participation in Central Park Group Private Real Estate, a New York-based mixed-use vehicle. The direct fiduciary net position of the fund is booked in Waxahachie.
Is this a state-level or local municipal fund?
It is a local municipal pension fund, created specifically for firefighters employed by the City of Waxahachie. It operates under the Texas Local Fire Fighter Retirement Act, which provides the statutory framework for numerous similar city-level firefighter pension plans across Texas.
Does the fund participate in any industry associations or peer benchmarking groups?
Yes, the fund participates in the Texas Association of Public Employee Retirement Systems (TEXPERS) and takes part in its annual asset allocation and performance studies. It is also part of the network of funds governed by the Texas Local Fire Fighter Retirement Act, creating a peer group of similarly situated municipal firefighter pensions.
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