El Paso pension fund reports about $983 million in assets; net decrease for fiscal year to date

The City of El Paso Employees Retirement Trust reported approximately $983,000,000 in net assets available for benefits as of April 30, 2025, Treasurer Louis Meyer told trustees at the board’s May 21 meeting.

Meyer said total cash and investments were “approximately $980,000,000,” receivables about $1,400,000 and that net assets available for benefits totaled approximately $983,000,000 after liabilities. For the eight months ended April 30, total receipts were about $41,200,000 (an average of roughly $5,200,000 per month) and net investment income was approximately $9,600,000, the treasurer said. Total additions were roughly $50,800,000 and total deductions were approximately $59,200,000, driven largely by benefit payments of about $54,800,000 and refunds of about $2,900,000, producing an eight-month net decrease of roughly $8,300,000–$8,400,000.

Meyer highlighted that realized gains were about $84,900,000 while unrealized losses were roughly $79,000,000. For the eight-month period the fund’s return was about 1.15%, compared with the plan’s annual target of 7.25% (pro rated 4.83% for the eight-month period), he said. Quarterly and two-month snapshots included a net investment loss for one recent two-month window and continued benefit outflows; Meyer reiterated that the statement values investments as of April 30 and that some amounts are estimates.

The treasurer described the report as a set of standard financial statements prepared from BNY Mellon reports, including a statement of net assets and a statement of changes in net assets. He said accrued receivables represent pending proceeds and contributions and that quarterly charts break out retiree counts by age and gender and show the plan’s monthly positions.

Board commentary was limited; one trustee said, “The report speaks for itself.” No formal action was recorded on the treasurer’s report during the meeting.

Trust staff and advisors will continue to monitor investment performance and benefit outflows as the board moves through the fiscal year. The board’s next regular meeting and materials will provide updated monthly and quarterly reports.