MESSAGE FROM THE CHAIRMAN

Dear Fund Members,

It has been another busy and eventful year here at your pension fund. With volatility in the markets, inflation, an Astros World Series championship, and the recent election, it has been crazy. As I have said in the past, we wake up every day looking to do the best we can to support our retirees and their families as well as make good investment and policy decisions so our active members can rest assured that their pension will be

strong and ready to support them when they retire. I am grateful and honored to represent all of you and I remain dedicated to protect and strengthen your benefits.

This has been a challenging year for investments, but thanks to our broad diversification and forward-thinking investment team, we managed to outperform markets across the board and remain in a strong, healthy position. We continue to grow while many funds in Texas and across the country have struggled to minimize their losses. We know that inflation has been overwhelming for all of you and we were pleased that the Fund’s performance allowed for a 4% COLA this year. We hope that markets will be stronger in 2023, but I am confident we will be ready for whatever the future may bring.

We are excited to welcome our newest members to HFRRF next month with an event in our conference center. Thanks to the efforts of our Director of Member Services, this will be our first time to host a graduating class and we hope to make it a regular tradition.

I look forward to seeing many of you at the retiree Christmas luncheon on December 1st!

Wishing you and your family good health and joy this holiday season,

Brett Besselman
Chairman
Houston Firefighters’ Relief and Retirement Fund