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Irving fire pension board reports stronger funding after pension-obligation bonds
Summary
The Irving Fire Relief & Retirement Fund reported improved funding after issuing pension obligation bonds: assets are about $304 million, unfunded liability fell to roughly $25.8 million, and bond-related gains totaled about $23.2 million through June 2025, the board chair told the City Council.
David Florence, chairman of the Irving Fire Relief & Retirement Fund board, told the Irving City Council on Dec. 11 that the fund’s health has improved markedly since pension obligation bonds (POBs) were issued in 2021.
Florence said the fund’s unfunded liability fell from about $103 million before 2019 to roughly $25.8 million today, and that the fund’s assets are approximately $304 million. He told the council the fund’s 10-year return is about 8 percent and…
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