The purpose of the Firemen's Retirement Fund Board is to ensure that funds are properly dispersed to retired firefighters. The Fund's governance is provided by state statute under Vernon's Civil Statutes Article 6243e, also known as the Texas Local Fire Fighter Retirement Act (TLFFRA) and by the Texas Government Code. The statue provides that a local Board of Trustees administer and see-after the operations of the Fund. The Board was established in 1945 and is made up of seven (7) members:
The Mayor or Chief Executive Officer of the City or his delegate
The Chief Financial Officer of the City or his delegate
Two civilians who reside in the state of Texas who are appointed by the Board
Three active fire fighters elected by the fire fighter members of the Fund
Per statute, the Board must meet monthly to conduct business. There are 365 active and 195 retirees for a grand total of 560 members participating in the Fund.