Investment consultant says Longview firefighter pension fund shows growth
The Captain of the Longview fire department, Kolby Beckham says that passing the bond will help attract new fire fighters.
LONGVIEW, Texas (KLTV) - In 2022, the Longview fire department struggled to pay a $70 million pension for firefighters who would be retiring.
A municipal bond election was passed last year in May to help the firefighter’s receive funds for their retirement. On Thursday, Will Harrell, Vice President of investments for Robert Harrell Inc. presented a presentation to the Longview City Council about how the current retirements funds are being allocated.
“Portfolio is up 4.4 percent, roughly $5 million from its starting point. Now if you were to isolate that $46 million versus the $86 million, that’s the total plan and you just isolate the 46. Therefore it’s grown a little by $2.4 million,” said Harrell.
The captain of the Longview Fire Department, Kolby Beckham, says that passing the bond will help attract new fire fighters.
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