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Wichita Falls council approves pension plan changes, raises city contribution to fire pension
Summary
City council approved an updated Funding Soundness Restoration Plan for the Wichita Falls Firemen’s Relief and Retirement Fund and voted to raise the city’s contribution rate from 17.5% to 18% effective Jan. 1, 2026, to meet a 30-year amortization requirement from the Texas Pension Review Board.
The Wichita Falls City Council on Aug. 5 approved an updated Funding Soundness Restoration Plan for the Wichita Falls Firemen’s Relief and Retirement Fund and voted to raise the city’s employer contribution rate from 17.5% to 18% effective Jan. 1, 2026. The ordinance directs the city to submit the plan to the Texas Pension Review Board.
Council and staff said the change is intended to meet a required amortization period of 30 years or less. "Oh, the 30 years…
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