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CITY OF PARIS, TEXAS Notes to Financial Statements (Continued) September 30, 2025 IV. Detailed Not .s on A11 Activities, and funds (Continued) F. Employee Retirement Systems and Plans (Continued) 2. Firefighters' Relief and Retirement Fund Plan Descripti9n The Paris Firefighters' Relief and Retirement Fund, a single -employer defined benefit pension plan, is established under the authority of the Texas Local Firefighters' Retirement Act and is administered by a Board of Trustees made up of three members elected from and by the fund's members, two representatives of the City of Paris, Texas, and two citizen members. Specified plan provisions are governed by a plan document and a trust agreement executed by the Board of Trustees. The plan is an independent entity for financial reporting purposes and issues a stand-alone financial statement. A copy of the audited financial statement may be obtained from the Board of Trustees, Paris Firefighters' Relief and Retirement Fund, P.O. Box 9037, Paris, Texas 75461. Governing state law requires public retirement systems to hire an actuary to make a valuation at least once every three years of the assets and liabilities of the system and to determine if the assumptions and methods are reasonable. The plan financial statements are prepared using the accrual basis of accounting. All plan investments are reported at fair value. Eligibility The plan covers current and former firefighters hired prior to October 1, 2022, of the City of Paris, Texas, as well as certain beneficiaries. The plan had a freeze date of September 30, 2022. Effective October 1, 2022, firefighters no longer make contributions to the plan. The City is responsible for the existing unfunded actuarial liability. As of September 30, 2022, the plan was closed to new entrants. Contributions The City's liability was fully funded as of September 30, 2025. The City made no contributions during the year ended September 30, 2025, and had no required contributions. Employees Covered b Benefit Terms At December 31, 2024, the following employees were covered by the benefit terms: Inactive employees or beneficiaries currently receiving benefits 47 Inactive employees entitled to but not yet receiving benefits 8 Active employees4 ................................. Total 99 .. 57