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COVID-19: Financial Information

This is one of two news pages where you can get information about how the Fund is responding to the global COVID-19 pandemic.

On this page, you will find financial information related to how the crisis is affecting the Fund's investments. Does this impact your pension benefit? What about DROP funds? Can you take out a loan against your pension benefit? 

Another financial question some of our members have, not specifically related to the Fund, is "Will I need to fill out a form to receive a COVID-19 recovery check?"

Health and safety information is available at this page. Find links to updated information related to the virus from public health officials. What precautions are being taken by the Fund to protect members and staff? How do I access services while the building is closed?

Fund operations amidst the COVID-19 pandemic

While the dramatic fluctuations in the stock market due to the global COVID-19 crisis have many concerned, your retirement benefit remains secure. The Fund is a long-term investor and invests in many different asset classes and styles. As a result, the Fund can pay benefits to its members during both up and down markets.

The Fund administers a Defined Benefit Plan (DB Plan), which means that the amount of your monthly retirement benefit does not change with fluctuations in the stock market. With a DB plan, the Fund bears the investment risk, while retirees and beneficiaries have the stability of knowing what their benefit will be each month.

As you see on the news, the performance of US publicly traded stocks, such as the Dow Jones Industrial Average or the S&P 500, were down significantly in March. As mentioned above the Fund not only has investments in corporate stocks, but the Fund invests in many other areas, as well. While there have been declines in parts of the market which impact the Fund, volatility can also create opportunities. The Fund’s Board, staff and investment managers evaluate these fluctuations and look for potential investments, while also ensuring the continued stability of the Fund.

It is understandable that significant market declines are unsettling, but they’re also expected. Pension funds such as ours regularly undergo stress testing and rigorous analysis to ensure they are positioned to withstand periodic downturns as well as to capitalize on growth. The Fund takes a disciplined approach to investing over the long term, through many cycles of economic ups and downs. We are celebrating our 75th anniversary this year, and looking back, it has been encouraging to see how the Fund has recovered well from past dips in the market, continuing to grow over time and continuing to provide for its members. The Fund is committed to a broadly diversified portfolio and long-term investment strategy that provides a sound path during this period of volatility.

Will my benefit payments be affected?

The Fund is here to ensure the timely and accurate payment of your monthly retirement benefit. Monthly pension checks continue to be paid as you normally see them and there has been no interruption of service.

By way of reminder, the pre-established pay dates for 2020 are:

  • April 1
  • May 1
  • June 1
  • July 1
  • August 3*
  • September 1
  • October 1
  • November 2*
  • December 1

* Remember, when the first day of the month falls on a weekend, banks do not process payments until the following Monday.

What about DROP funds?

  • Active Employees enrolled in DROP:
    If you are an active City employee enrolled in the DROP, on the first day of each month, your DROP account is credited with your monthly DROP accrual. The amount you are credited monthly is based on your pension. This amount is not affected by market volatility. When you retire, those funds will be fully available to you.
  • Retired Employees who left DROP monies with the Fund:
    If you are a retired City employee who elected to leave a part of your DROP balance with the Fund AFTER retirement, you are affected to some extent by market fluctuations. DROP balances after retirement that remain with the Fund experience the gains and losses of the Fund's portfolio of investments that are aggregated at the end of each month. You will see this reflected in your balance a few weeks after the end of each month. This is due to the time it takes for the Fund to receive investment reports from its investments and aggregate the total effect on the portfolio for the month.

If you have questions about your DROP funds, please contact us. Our online appointment scheduler or email are the quickest ways to connect with a Member Services Specialist. You can also review your balance in the Member Portal.

DROP distribution forms are available on our website.

Can I take a loan against my retirement or the contributions I have put into the plan?

The current ordinance and administrative rules do not allow for loans against your retirement plan.

If you participate in a deferred compensation plan, such as the City of Fort Worth 457 plan, you may have some options. Contact HR Benefits with your specific questions.

Will I need to fill out a form to receive a COVID-19 recovery check?

It is recommended that you contact a tax advisor or the IRS about your specific situation. If BOTH of the following apply to you, you may need to fill out a form:

  • You have NOT filed an income tax return for 2019 or 2018


  • You do NOT receive Social Security benefits
Read more from the City of Fort Worth.

Our building is closed, but our services are continuing

Our building is closed to the public, but you can meet with us over the phone. Make an appointment online, or call us at 817-632-8900.

The staff of the Fund are working hard from our homes to continue providing all our members and their families with exceptional services and make sure you have the information you need about your retirement benefits.