MESSAGE FROM THE CHAIRMAN

Dear Fund Members,

As the end of 2020 draws near, reflection can be a tool for our success in the coming year. Looking back, it is amazing to see how everyone at the Fund came together & rose to the challenge to keep operations running smoothly during what has been an unprecedented time in history. The ingenuity & steadfast commitment of HFRRF Trustees & staff led the way for monumental developments & successes throughout the year.

We are encouraged by the District Court ruling that SB2190 is unconstitutional as applied to HFRRF. The Fund’s Board of Trustees has stated, from the beginning of pension reform, that SB2190 infringes on the Board’s constitutional rights. As representatives of our members, we will always do what is lawful & in the best interest of our Fund. The City has appealed this ruling & we will keep you up to date through the appeals process.

Accolades to the Investment Team for their disciplined approach to managing our portfolio. Rest assured that the Fund consistently maintains a level of liquidity to satisfy obligations, including your benefit payments. Thanks to our investment professionals & their strategies, we successfully weathered the storm, ending FY20 with a positive return. While uncertainty remains in the market, growth is projected to rebound in 2021.

The COVID-19 pandemic prompted changes worldwide which have affected how we conduct business at the Fund. As we adapt & move forward, we are embracing advances in the virtual world. Staff are working remotely & Zoom meetings have temporarily replaced face-to-face interaction. I am inspired by the dedication of HFRRF staff & Trustees to consistently ensure we provide the highest level of customer service to our members. Digital transformation enables the Fund to provide you (our members) with immediate 24/7 access to your personal information with the ability to securely perform updates & initiate transactions.

We have successfully embraced the challenges of 2020 & used the opportunity to improve what is most important to us, our service to you. This commitment will never change. Please stay safe!

Wishing you & your family good health,

Brett Besselman
Chairman
Houston Firefighters’ Relief and Retirement Fund