ACTIVE/RETIRED MEMBERS and BENEFICIARIES Spring 2018

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A PUBLICATION FOR THE Spring 2018 ACTIVE/RETIRED MEMBERS AND BENEFICIARIES OF THE HOUSTON FIREFIGHTERS’ RELIEF AND RETIREMENT FUND Investing for Firefighters and Their Families®

A MESSAGE FROM THE CHAIRMAN

Dear Fund Members, Thank you to the Board of Trustees for reselecting me by unani- mous consent to serve as Chairman, a position held since August 2016 and for affirming Stephen Whitehead to continue as Vice Chairman and Francis “Frank” Maher as Secretary. Since 2014 the HFRRF has grown to $4.2 billion in total assets and investment management fees have been reduced $6 million annually. Under the leadership of our Chief Investment Officer Ajit Singh, the sys- David L. Keller, Jr., Chairman tem earned $439 million in its 2017 fiscal year, achieved a 12 percent return on investable assets, and exceeded $4 billion for the first time in the Fund’s 80-year history.

Garry W. Blackmon, Sr. and Lisa R. Slagle sworn in the serve on the Board of Trustees.

Stephen R. Whitehead sworn in to serve a new 3 year term on the Board.

In other moves, the HFRRF Board in December 2017 appointed retired firefighter Lisa R. Slagle to serve the 2 year term as its citizen member, replacing former Houston city council member Carroll G. Robinson. Slagle was active in the pension fund’s efforts in the 2017 legislative session. Earlier in 2017, the positions held by trustees Whitehead and Garry W. Blackmon went uncontested in their 2017 election by pension fund members. Each will serve another 3 year term through December 31, 2020.

It is a great honor to serve another term as chairman of our board. Adding it all together, it’s easy to see that HFRRF has a conservative leadership structure in place. Stability, with an eye toward continuous improvement, is every board’s goal. We certainly see that dy-

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Continued from page 1... namic in place and we believe it is serving the best interests of our Without its dedication to continuous improvement and appropri- members. Recent results confirm our success. ate response to ongoing worldwide economic change, we might not have been able to provide for Houston firefighters in the way that HFRRF’s mission is to provide a secure retirement benefit plan for we have. members through professional administration, prudent management of system assets, sound investment practices, and prompt and All of our trustees are dedicated to our members. We participate courteous delivery of accurate benefits and useful information to in educational pension conferences in the interest of our member- members. The Fund serves 7,275 active and retired members and ship. Whitehead and I both came away with an even greater appre- has approximately $4.2 billion in net assets. The American Invest- ciation and dedication to the job we try to do daily, for you. ment Council Named HFRRF number five of the Top 10 Pension Funds by Private Equity Returns. Matters concerning to defined benefit plans and the retirement industry as a whole for work in public service are definitely making On Monday, February 26, members of the pension fund’s invest- the news. From official committees offering guidance to affect fu- ment committee were in New York City as part of our required ture public policy to recent news of a federal court’s dismissal of a duty to evaluate, assess, and monitor our investments on your be- lawsuit filed by retired Dallas public safety officers. The Dallas Po- half. This is not normally worthy of a note to you - we make site vis- lice & Fire Pension board’s decision to not permit lump-sum with- its to our investment managers’ offices throughout each year - but drawals from their Deferred Retirement Option Plan (DROP) and something out of the ordinary occurred that day and we thought the subsequent annuitization of DROP accounts under HB 3158 of you should know. the 85th Texas legislature does not have any bearing on the HFR- RF. The HFRRF plan’s DROP distribution options have not been Our Chief Investment Officer Ajit Singh, through our investment altered. manager iShares by BlackRock, arranged for Board Vice Chairman Stephen Whitehead and myself to be part of a bell ceremony which As the City of Houston is ordered to count thousands of validated closed trading on the New York Stock Exchange (NYSE). The cer- petitions seeking a local ballot initiative that, if approved by voters, emony offered a wonderful opportunity to reflect on your pension would compel the city to amend the city charter to bring firefight- fund’s history with the NYSE and how Stephen and I were honored, ers’ pay in line with the Houston police officers as shared with us on your behalf, to take part in this daily but significant event. by the Houston Professional Fire Fighters Association – Local 341, our board is continually in review of hypothetical scenarios appro- priate for baseline projections as we recognize potential for higher salary growth for the Houston Fire Department. HFRRF Trustees are dedicated to our members and their retirement security and are incessantly evaluating the present and expected needs of our Plan in alignment with current laws and proposals.

It is a great honor to serve another term as chairman of our board as our board collectively provides a secure retirement benefit plan For more than 200 years the NYSE has provided investors the op- for members through professional administration, prudent man- portunity to participate in the ownership of companies that have agement of system assets, sound investment practices, and prompt made the American economy an engine of worldwide growth and and courteous delivery of accurate benefits and useful information progress. Your pension fund has made investments through the to members. NYSE on Houston firefighters’ behalf since at least the 1930s. Our legacy investments provide the lion’s share of the money we send Faithfully submitted, to retired firefighters or their beneficiaries each month. In fact we estimate that 66% of every dollar that a firefighter receives in re- David L. Keller, Jr. tirement has been generated from our investments. Our long-term Chairman and current approach, of “winning by not losing,” to investing has Houston Firefighters’ Relief and Retirement Fund produced great success for our members through wars and con- Board of Trustees flicts, market crashes and bear markets, and social change of rev- olutionary proportion. The NYSE was there through it all as well.

www.hfrrf.org Page 2 HOW FEES AND EXPENSES AFFECT DO YOU HAVE A PLAN? YOUR INVESTMENT PORTFOLIO by Tony L. Pierce by K. Marx, LCSW SERVICES EDUCATION MANAGER Retirees often like to take measures to secure their retirement. It is Estate planning is the process of always a challenge when deciding on which risks to take-political anticipating and arranging, during or market. Occasionally, members may choose to roll some or all a person’s life, for the management and disposal of that person’s estate of their DROP or PROP assets into an IRA. As with anything you during the person’s life and at and buy, there are fees and costs associated with investment products after death, while minimizing gift, and services. These fees may seem small, but over time they can estate, generation skipping transfer, have a major impact on your investment portfolio. The following and income tax. Estate planning includes planning for incapacity chart shows an investment portforlio with a 4% annual return over as well as a process of reducing or eliminating uncertainties over 20 years when the investment either has an ongoing fee of 0.25%, the administration of a probate and maximizing the value of the estate by reducing taxes and other expenses. The ultimate goal of 0.50% or 1%. Notice how the fees affect the investment portfolio estate planning can be determined by your specific goals, and may over 20 years. be as simple or complex as what your needs dictate.

Guardians are often designated for minor children and beneficiaries in incapacity. The law of estate planning overlaps to some degree with elder law, which additionally includes other provisions such as long-term care.

Estate planning isn’t just about legal issues - there are practical ones as well. After you die, many of the tasks and decisions your loved ones will have to handle usually aren’t covered by basic estate planning documents. You can save them some headaches by making your wishes known on such issues as: • Who should be notified of your death? • Do you want a funeral or a memorial ceremony? If so, what As a reminder, the Fund does not charge fees on your DROP/ type? Who should attend? Do you want people to send flowers, PROP assets, but if you choose to invest money elsewhere be or would you prefer donations to charity? sure you understand and compare the fees you’ll be charged and • Did you prepare a will or living trust? Where did you keep them? Do you own a life insurance policy, pension, annuity, or whether or not the bank or brokerage firm you choose is willing to retirement accounts? Where are the documents stored? act as a fiduciary for your assets. It could save you a lot of money • Do you have bank and/or credit union account? Do you have a in the long run. safe deposit box? Where are the records? (For some guidance, see Help Your Executor: Secured Places and Passwords.) • Do you own stocks, bonds, or money in mutual funds? Where are the records? • Do you own real estate? Where are the deeds? BOARD OF TRUSTEES Most of us carry this information around in our heads and never David L. Keller, Jr...... Chairman discuss it with our family members in a comprehensive way. Our loved ones must do their best to sort it all out later. Stephen R. Whitehead...... Vice Chair Francis (Frank) X. Maher...... Secretary Want to know more? Join us at our interactive Estate Planning Garry W. Blackmon, Sr...... Trustee Seminar on Wednesday, April 18, 2018 at the Fund’s Greer & Low- Juliet N. Higgins...... Trustee dermilk Conference, 9:00 a.m. to 1:00 p.m. Brett R. Besselman...... Trustee Lisa R. Slagle ...... Citizen Member TO REGISTER: Website: www.hfrrf.org. Log in, Click on MemberDirect, Click Albertino “Al” Mays...... Citizen Member Seminars, Click Available Seminars Arif Rasheed...... City Treasurer Designee Email: [email protected] Earnest W. Wotring...... Mayor’s Representative Phone: (281) 372-5100 Reservations must be made in advance. Please provide your name, Ralph D. Marsh...... Executive Director payroll #, phone #, and spouse’s name if applicable.

“Lifelong learning is no longer a luxury; it is a necessity.” -Joseph E. Aoun, President of Northeastern University www.hfrrf.org Page 3 2018 KEY DATES CALENDAR MEMBER EDUCATION OPPORTUNITIES APRIL SMTWTFS According to a recent survey by the Employ- Retirement Matters - Active Members in 1 2 3 4 5 6 7 ee Benefit Research Institute, only six out of DROP 8 9 10 11 12 13 14 every 10 workers are saving for retirement, June 7, 2018 | 9:00 AM – 4:00 PM and only one in 10 workers has prepared a This session will give you an overview of the 15 16 17 18 19 20 21 formal plan to ensure financial security in re- Financial Planning Process; Pension Types 22 23 24 25 26 27 28 tirement. and Calculations, and what Steps to take for Retiring. 29 30 An estimated 10,000 Americans will turn 60 MAY every day over the next twenty years. Perhaps Presentations will be SMTWTFS there is no other time in history where retire- given by the Social 1 2 3 4 5 ment planning has been such a great concern Security Adminis- 6 7 8 9 10 11 12 to so many people. Many things you thought tration - Windfall you knew about retirement have changed, Elimination Provi- 13 14 15 16 17 18 19 and the retirement industry is rapidly chang- sion (WEP); City of 20 21 22 23 24 25 26 ing as well. Houston Benefits 27 28 29 30 31 – Medical, Dental, Active members, your generation faces a very Vision, and Life JUNE different retirement situation requiring a very Insurance Coverage; Empower Retirement - SMTWTFS different retirement planning strategy. You Deferred Compensation (457). 1 2 can expect to live longer while receiving fewer 3 4 5 6 7 8 9 pension and Social Security benefits during Additional areas of interest include Survivor retirement. You will likely need more retire- Benefits, Required Minimum Distribution 10 11 12 13 14 15 16 ment savings to support a longer, more active (RMD), DROP Exit Options, and BackDROP 17 18 19 20 21 22 23 and healthier lifestyle than previous genera- versus Death Activated BackDROP. This 24 25 26 27 28 29 30 tions. How can you be better prepared? Come Seminar is most beneficial for members who join us to learn more about your benefits and are in DROP and that are considering retire- Board Meetings are held on identify areas you need to address before re- ment within the next five years. Whether you the 3rd Tuesday of every month. tiring. just entered DROP, or you are near the end, it’s never too early or late to start planning for Office Closings: Know Your Pension Benefits - Active Mem- your next phase of life. Monday, May 28 bers Not in DROP ______Noon Closures: May 9, 2018 | 9:00 AM – 1:00 PM Friday, May 25 This seminar is targeted to active members Location: who have not entered DROP. Tired of hearing Greer & Lowdermilk Conference Center Save the Date: rumors about your how recent changes have 4225 Interwood North Pkwy Retiree BBQ affected you benefits? How well do you really Houston, TX 77032-3866 May 3, 2018 know your benefits? The time to start planning is now. TO REGISTER: Website: www.hfrrf.org. Log in, Click on This seminar will give you an overview of MemberDirect, Click Seminars, Click Avail- HFRRF Pension Plan benefits and a summa- able Seminars, or ry of the recent changes. Some of the topics Email: [email protected] include: Pension Types (Service vs. Disability Phone: (281) 372-5100 Retirement), Pension Calculations, Survivor Reservations must be made in advance. Benefits, DROP (Deferred Retirement Op- Please provide your name, payroll #, phone #, tion Plan) and Social Security. and spouse’s name if applicable.

www.hfrrf.org Page 4 IRS UPDATES TAX TABLES AND IN MEMORY Our condolences and heartfelt sympathies are extended to the INFLATION ADJUSTMENTS FOR families of the following members who recently passed away: NEW TAX LAW FIREFIGHTERS | RETIRED Source: an article from Accounting Today NAME DATE OF DEATH SERVED HFD

James R. Crawford April 9, 2018 1969 - 2005 The Internal Revenue Service Darrell R. Shely March 23, 2018 1970 - 2003 issued newly updated tax tables Jackie D. Matthews March 9, 2018 1962 - 1978 and inflation adjustments for William M. White March 3, 2018 1959 - 1978 Edward Jackson February 20, 2018 1959 - 1987 the new tax law. John D. Old February 19, 2018 1962 - 1995 Terry N. Crawford February 2, 2018 1972 - 2004 In Rev. Proc. 2018-18, the IRS Jeffrey L. Johnson January 19, 2018 1972 - 1992 Lanny E. Conway January 19, 2018 1969 - 2003 used the chained consumer Harold McBee January 18, 2018 1953 - 1977 product index to update some Victor Tijerina January 15, 2018 1974 - 2001 of the inflation adjustments and Charles Jeunesse January 14, 2018 1957 - 1978 Jimmy D. Jones January 14, 2018 1968 - 1998 make some other tweaks to some previously announced tax items. Thomas E. Gainous January 11, 2018 1978 - 2003 The revenue procedure modifies and supersedes certain sections Charles E. Walker January 3, 2018 1967 - 1999 of Rev. Proc. 2017–58, 2017–45 I.R.B. 489, and supersedes Rev. David L. Bonds December 30, 2017 1960 - 2003 Lee Island December 20, 2017 1974 - 1996 Proc. 2017–37, 2017–21 I.R.B. 1252, to reflect the new tax law. It James N. Cox December 19, 2017 1968 - 1989 changes the beginning and ending dollar amounts for the brack- Gerald Julian December 18, 2017 1969 - 1995 ets, and replaces the existing tax rates with seven new rates of 10, Richard R. Reily December 8, 2017 1975 - 2006 Steven H. Whitton December 4, 2017 1974 - 1981 12, 22, 24, 32, 35 and 37 percent. Robert Pilkenton November 25, 2017 1969 - 2005 Harry F. Lively November 14, 2017 1962 - 1990 Married couples who earn less than $19,050 pay a 10 percent rate, while a 12 percent rate applies to income between $19,050 and $77,400, 22 percent for income between $77,400 and $165,000, 24 percent for income between $165,000 and $315,000, 35 percent FIREFIGHTERS | ACTIVE for income between $400,000 and $600,000, and 37 percent for NAME DATE OF DEATH income over $600,000. The IRS also provided updated tax tables for other singles, heads of households, and other statuses. Eric Zapalac November 20, 2017

The revenue procedure also adjusts some of the other previously announced income limits. For the Earned Income Tax Credit, it’s $10,180 for taxpayers with one child, and $14,290 for two or BENEFICIARIES

more children, and $6,780 for none. For the adoption credit, the NAME DATE OF DEATH credit for adopting a child with special needs is $13,810, a change from the previous amount of $13,840, according to the Journal Garvis N. Stephens February 19, 2018 Loise G. Ellis January 21, 2018 of Accountancy. The new revenue procedure also alters the for- Frances E. McArthur January 18, 2018 eign earned income exclusion amount to $103,900 (originally Nancy C. Evans January 13, 2018 $104,100). Willie Lee Barr January 5, 2018 Virgin A. Hill December 25, 2017 Mamie L. Burns December 5, 2017 The document also provides the inflation-adjusted amounts for Betty Fowler December 2, 2017 health savings accounts. For calendar year 2018, the annual lim- Blossom Byington November 11, 2017

Continued on page 6... www.hfrrf.org Page 5 Continued from page 5... itation on deductions for an individual with self-only coverage DROP OR PROP DISTRIBUTIONS under a high deductible health plan is $3,450, and the annual Please remember that it takes 5 to 7 business days to process limitation on deductions for an individual with family coverage DROP or PROP distributions. The Fund’s custodial bank under a high deductible health plan is $6,850. For 2018, a “high in Pittsburgh, Pennsylvania processes all pension benefit deductible health plan” is defined as a health plan with an annual payments and distributes the amounts in accordance with bank procedures. deductible no less than $1,350 for self-only coverage or $2,700 for family coverage, and the annual out-of-pocket expenses don’t ASK THE CHAIRMAN exceed $6,650 for self-only coverage or $13,300 for family cov- There is a direct email communication link to the Chair- erage. man on our website (www.hfrrf.org) The “ASK THE CHAIR” link is accessible under the “Contact Us” section. This email link will allow you to communicate directly with In January, the IRS also released new withholding tables for the the Chair. This link is not for Public Information Requests. Tax Cuts and Jobs Act. All requests for Open Records should be submitted to the Fund’s Public Information Officer at the following email (www.accountingtoday.com/news/irs-updates-tax-tables address: [email protected]. -and-inflation-adjustments-for-new-tax-reform-law)

BAYLOR TO HONOR J.J. WATT AND DR. DAVID PERSSE WITH DEGREES

“Each year for Commencement, we choose a speaker to provide meaningful words to our graduates and we award honorary degrees to those who have made a major impact on the College, our community or academic medicine in general,” said Dr. Paul Klotman, president, CEO and executive dean of Baylor. “Dr. Lef- kowitz’s groundbreaking research in cell receptors has been recog- nized around the globe. Dr. McPherson’s important contributions to science were made right here in Houston, at Baylor, as a retinal Nobel Laureate Dr. Robert Lefkowitz; Houston Emergency specialist.” Medical Services Director Dr. David Persse; Dr. Alice McPherson; and Houston Texans star J.J. Watt. “In the year following the devastation of Hurricane Harvey and the Source: Baylor College of Medicine community’s incredible response, it was most fitting to honor two community leaders who contributed in major ways, Dr. Persse and Houston Texans star J.J. Watt and Houston Emergency Medical J.J. Watt. Our graduates and their families can take important les- Services Director Dr. David Persse will receive honorary degrees sons from all four of these honorary degree recipients,” Klotman from Baylor College of Medicine at commencement ceremonies said. in May. Both played major roles in serving the community after Hurricane Harvey. Lefkowitz and McPherson will receive a Doctor of Letters in Medi- cine degree. This degree is awarded to physicians or research scien- Also receiving honorary degrees will be the College’s commence- tists who have excelled in medicine through teaching, research or ment speaker, Nobel Laureate Dr. Robert Lefkowitz, and Dr. Alice public service and whose acts have brought credit or advancement McPherson, professor of ophthalmology at Baylor and one of the to Baylor or to the profession of academic medicine. foremost retina specialists in the world. Lefkowitz, professor of medicine and biochemistry and chemistry Commencement ceremonies for the School of Medicine and Grad- at Duke University Medical Center, received the National Medal uate School of Biomedical Sciences will be held Tuesday, May 29, at of Science in 2007 and the Nobel Prize in Chemistry in 2012. His Jones Hall for the Performing Arts. research has focused on cellular receptors. He has been an investi-

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gator of the Howard Hughes Medical Institute since 1976. Watt was drafted in the first round by the Houston Texans in 2011 and has been named NFL Defensive Player of the Year three times. McPherson moved to Houston in 1960 to begin practice as the He is president and founder of the Justin J. Watt Foundation, a world’s first full-time woman vitreoretinal specialist, establishing charity organization that provides after-school opportunities for herself as one of the pioneers in the field. She founded the retina children. Following Hurricane Harvey, Watt raised more than service at Baylor that same year. In 1969, she founded the Retina $37 million to support recovery efforts from the storm. Watt was Research Foundation in Houston, dedicated to the eradication of named the Sports Illustrated Sportsperson of the Year along with retina disease. Houston Astros second baseman Jose Altuve. Watt also won the Walter Payton NFL Man of the Year for his humanitarian efforts Persse, Houston’s public health authority, is responsible for the and athletic excellence. medical aspects of clinical care, quality management, disease con- trol and public health preparedness. He moved to Houston in 1996 Persse and Watt will receive a Doctor of Humanities in Medicine to serve as director of emergency medical services for the city. He degree. This degree is awarded by the College to individuals who is a professor of emergency medicine at Baylor. Baylor physicians have provided exceptional support or service directly or indirectly worked closely with Persse to meet community medical needs after to Baylor or to academic medicine as a whole and to the commu- Harvey. nity at large. (www.bcm.edu/news/events/commencement-jj-watt-david-persse-degree)

STAFF ANNIVERSARIES SAVE THE DATE CONGRATULATIONS JOHN MOORE! Celebrating 20 Years!

Congratulations Rosie! Rosie’s 20th Anniversary Celebration You are invited to come celebrate Rosie Torres’ 20th year at HFRRF. Rosie has been a dedicated fund employee since 1998 and to show our appreciation, we are having a reception in her honor. Cake, coffee and punch will be served! Tuesday, April 17th from 2:00 pm to 3:00pm John Moore pictured with his wife Janine HFRRF Main Lobby There was a reception held on February 20, 2018 hon- oring John D. Moore, II (Director of Technology & EMPLOYEE NEWS Building Services) on his 20 year anniversary at the Houston Firefighters’ Relief and Retirement Fund. Congratulations Diana (Member Services Coordinator) and David Happy 10th Anniversary Happy 5th Anniversary Waterman on the birth of their daughter Amelia Mina Waterman. to Naomi Kealy, to Amanda N. Flores, Investment Operations Analyst I Receptionist/RIM Assistant Amelia was born Saturday, February 17th, 2018 at 4:53 in the after- (March 3rd) (December 7th) noon. She weighed in at 7 lbs. 11 oz. and was 19 inches long. www.hfrrf.org Page 7 2017 CHRISTMAS LUNCHEON

SAVE THE DATE Retiree BBQ May 3, 2018 | 11:00 AM - 1:00 PM MARCH 8, 2018 RETIREE COFFEE Greer & Lowdermilk Conference Center 4225 Interwood North Pkwy | Houston, TX 77032

SAVE THE DATE Retiree Coffee September 27, 2018 Greer & Lowdermilk Conference Center 4225 Interwood North Pkwy | Houston, TX 77032

www.hfrrf.org Page 8 NEW MEDICARE CARDS COMING SOON

Source: Federal Trade Commission’s Consumer Information When you get your new card, be sure to destroy your old card. Don’t just toss it in the trash. Shred it. If you have a separate Medicare New Medicare cards are coming soon. Here’s what you need to Advantage card, keep that because you’ll still need it for treatment. know about your new card. Plus, how to avoid related scams. As the new Medicare cards start being mailed, be on the lookout Starting in April 2018, Medicare will begin mailing new cards to for Medicare scams. Here are some tips: everyone who gets Medicare benefits. Why? To help protect your • Don’t pay for your new card. It’s yours for free. If anyone calls identity, Medicare is remov- and says you need to pay for it, that’s a scam. ing Social Security numbers • Don’t give personal information to get your card. If someone from Medicare cards. In- calls claiming to be from Medicare, asking for your Social Secu- stead, the new cards will have rity number or bank information, that’s a scam. Hang up. Medi- a unique Medicare Number. care will never ask you to give personal information to get your This will happen automat- new number and card. ically. You don’t need to do • Guard your card. When you get your new card, safeguard it like anything or pay anyone to you would any other health insurance or credit card. While re- get your new card. moving the Social Security number cuts down on many types of identity theft, you’ll still want to protect your new card because Medicare will mail your card, at no cost, to the address you identity thieves could use it to get medical services. have on file with the Social Security Administration. If you need to update your official mailing address, visit your online For more information about changes to your Medicare card go to Social Security account or call 1.800.772.1213. When you get your go.medicare.gov/newcard. And if you’re a victim of a scam, report new card, your Medicare coverage and benefits will stay the same. it to the FTC (www.ftccomplaintassistant.gov).

If your sister who lives in another state gets her card before you, (consumer.ftc.gov/blog/2018/03/new-medicare-cards-coming-soon) don’t fret. The cards will be mailed in waves, to various parts of the country, from April 2018 until April 2019. So, your card may arrive TRUSTEES IN SERVICE at a different time than hers. You can check the rollout schedule to get a better idea when you may be receiving yours.

HFD FACTS In January 2018, HFD responded to 30,254 incidents (4,546 Fire & 25,708 EMS).

In February 2018, HFD responded to 25,910 incidents (3,372 Fire & 22,538 EMS).

The Houston City Council approves 2 million dollars for the Houston Fire Department to purchase flood response vehicles and equipment.

“With the acquisition of the requested high water assets and training funds, the HFD will be better prepared to address the normally expected flood evacuation and rescue risk in our community,” Chief Samuel Peña, Houston Fire Department. The Houston Fire Depart- ment will purchase 4 additional High Water Vehicles, 2 Rescue Boats, 4 Evacuation Boats, 10 prime movers, 4 jet skis, personal flotation devices, survival packages for flood strike teams, and a public safety drone.

www.hfrrf.org Page 9 ANNUAL HFD MEMORIAL CEREMONY

Photos courtesy of Matt Milam, Chief Arson Photographer at Houston Fire Department

The Annual Houston Fire Department Memorial Ceremony. The HFRRF hosted the 2018 Memorial Ceremony organized by the HFD Public Affairs, which was held on March 3rd at 4 pm in the Houston Firefighters Memorial Gardens, 4225 Interwood North Parkway.

Gone But Not Forgotten www.hfrrf.org Page 10 CONGRATULATIONS FINANCIAL STATEMENTS & TO HFD CADET CLASS 2018A SUMMARY PLAN DESCRIPTION

The Houston Firefighters’ Relief and Retirement Fund

SUMMARY PLAN DESCRIPTION

Financial Statements and Houston Firefighters’18 Relief and Supplemental Information available Retirement Fund 2018 Summary Plan Description (NEW) is now and accessible on the Fund website at accessible on the Fund website at www.hfrrf.org www.hfrrf.org Congratulations to HFD Cadet Class 2018A who graduated on March 8, 2018 at 2pm at the Val Jahn- LAST MONTH THE 2018 SUMMARY PLAN DESCRIPTION (SPD) WAS DISTRIBUTED VIA EMAIL to those who have an email ke Training Facility – 8030 Braniff Street, Houston, address on file and a CD was mailed to home addresses to those members who do not Texas 77061 have an email address on file. The SPD explains benefit provisions for you and your family. The three main sections of the SPD are the plan summary which starts on page 3 and is a simplified digest of the actual legal statute that defines your pension plan. The second section, policies and procedures, starts on page 5 and the third section of the SPD is the version of the Statute which starts on page 52, the governing statute is ABOUT THE HOUSTON Article 6243e.2(1) of Texas Civil Statutes. You can also find a copy of the 2018 SPD on FIREFIGHTERS’ RELIEF our website at www.hfrrf.org under the Resource Center and Publications. AND RETIREMENT FUND PENSION PAYMENT (HFRRF) DISBURSEMENT SCHEDULE

If you utilize direct deposit, your monthly pension payments are sched- uled by the Fund’s custodian, Bank of New York/Mellon. Direct depos- HFRRF’s mission is to provide a secure its should reach your bank account by the last business day of the month; retirement benefit plan for members however, if you receive a check, it will be mailed from the custodians Pitts- through professional administration, burgh, Pennsylvania location on the third business day before the end of the month. This process takes place according to the schedule established prudent management of system assets, by the custodian. If you are currently receiving a paper check and are in- sound investment practices, and terested in the convenience of electronic deposit of your monthly pen- prompt and courteous delivery of sion payment, please contact our Member Services Representatives at accurate benefits and useful 281.372.5100. information to members. Month Mail Date April 4/26/2018 The Fund serves 7,275 active and retired May 5/29/2018 members and has approximately $4.2 June 6/27/2018 billion in net assets. MEMBER DIRECT The American Investment Council Named HFRRF number five of the Top 10 Having trouble logging in to member direct? Tips to remember Pension Funds by Private Equity Returns. 1.Password must be alpha numeric with one capital and no special characters Ex.: !, *,&. 2. Your username must match exactly. Try capitalizing or using all lower case RED LINE if it’s not working. 3. Check the capitalization on your challenge questions. Oftentimes, mem- The Houston Firefighters’ bers forgot they capitalized/did not capitalize the beginning of a word. Relief and Retirement Fund 4. Read your challenge questions carefully to ensure you are answering ex- 4225 Interwood North Parkway actly what it asks. Houston, Texas 77032-3866 5. If you have difficulty remembering your password try a free password management service such as LastPass, or Dashlane. www.hfrrf.org Page 11