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Current investments Continued: <br /> <br />Fund and Investment Tvl3e <br />Water Contract Fund <br />Federal Home Loan Mortgage Corporation <br /> <br />Water & Sewer Continqency Fund <br />Federal Home Loan Mortgage Corporation <br />Federal National Mortgage Association <br /> <br />Water & Sewer Interest & Sinking 1992 <br />Federal National Mortgage Association <br /> <br />Water & Sewer interest & Sinkinq 1994 <br />Federal National Mortgage Association <br /> <br />Water & Sewer Interest & Sinking 2000 <br />Federal National Mortgage Association <br /> <br />Water & Sewer Revenue Bonds Reserve Fund (Series 1992} <br /> <br />Federal Home Loan Mortgage Corporation <br />Government National Mortgage Association II <br />Federal National Mortgage Association <br /> <br />Water & Sewer Revenue 2000 Construction Fund <br /> <br />Federal National Mortgage Association <br />Federal Home Loan Mortgage Corporation <br />Government National Mortgage Association Il <br /> <br />Tax & Revenue CO's 2000 Construction Fund <br /> <br />Federal National Mortgage Association <br />Federal Home Loan Mortgage Corporation <br /> <br /> Percentage <br /> Amount of Portfolio <br /> <br /> 323,387.58 1.97% <br /> <br /> 540,089.04 3.29% <br /> 95,907.86 0.58% <br /> <br /> 261,000.00 1.59% <br /> 187,000.00 1.14% <br /> 50,000.00 0.30% <br /> <br /> 125,288.25 0.76% <br /> 9,833.81 0.06% <br /> 1,287,843.57 7.85% <br /> <br /> 2,564,333.90 15.64% <br /> 3,329,286.46 20.30% <br /> 269,132.45 1.64% <br /> <br />1,378,200.60 8.40% <br />1,874,418.08 11.43% <br />$16,397,942.33 100.00% <br /> <br />RETIREMENT PLANS <br /> <br />Texas Municipal Retirement System <br /> <br />The City provides pension benefits for all of its full-time employees through a nontraditional, joint contributory, defined <br />contribution plan in the state-wide Texas Municipal Retirement System (TMRS), one of over 731 administered by TMRS, an <br />agent multiple-employer public employee retirement system. The City employees also participate in the U.S. Social Security <br />program. Benefits depend upon the sum of the employees' contributions to the plan, with interest, and the city-financed <br />monetary credits, with interest. Members can retire at ages 60 and above with 10 or more years of service or with 20 or more <br />years of service regardless of age. A member is vested after 10 years. The plan provisions are adopted by the governing body <br />of the City, within the options available in the state statutes governing TMRS and within the actuarial constraints also in the <br />statutes. <br /> <br />The contribution rate for employee members is 5%, and the City's matching ratio is currently two to one, both as adopted by the <br />governing body of the city. The City's contributions for fiscal year 1999 were based on an annual covered payroll of <br />$8,904,790. Both the city and the covered employees made the required contributions, for an annual pension cost for fiscal <br />year 1999 of $797,758. <br /> <br />Firefighter~s Relief and Retirement Fund <br /> <br />The Paris Firefighter's Relief and Retirement Fund, a single-employer defined benefit pension plan, is established under the <br />authority of the Texas Local flrefighter's Retirement Act. All active flrefighters of the City of Paris, Texas, are covered by the <br />fund. A member is eligible for service retirement on either (a) the date that the member has both attained age 55 and <br />completed 20 years of service or (b) the date as of which the sum of the member's age and years of service first equals 82, <br />provided the member has completed 20 years of service. <br /> <br />14 <br /> <br /> <br />