Current Agenda
Pension News
‘Ticking time bomb’: The world’s pension funds face an ageing crisis
With people living longer and birth rates plunging, pension funds are having to stretch their assets across decades of retirement. This comes as even as the pool of workers contributing to those systems shrinks. Life expectancy at age 65 in more developed regions has increased by 50.9% since 1950 to about 20 additional years. The world’s pension systems are confronting a demographic crisis to stretch retirement finances, raising questions about their ability to sustain payouts for future generations Read More
Milliman: Public Pension Fund Funded Status Deteriorates
Actuarial firm, Milliman, has released the results for its monthly Public Pension Funding Index (PPFI). They reported that September was challenging because of aggregate investment returns for the constituents reveal a -1.4% return for the month. That loss equates to a $112 billion hit to the collective funded status. Total assets for the index now stand at $6.067 trillion down from $6.162 trillion as of August 31, 2026. They estimated that pension liabilities grew to $6.944 trillion causing the aggregate funded ratio to fall from 89.0% to 87.4% at month end. Read More
Data center backlash spreads to pension funds as 2 systems pull back on new commitments
As backlash and political pressure against the building of new data centers continues to expand nationwide, two U.S. public pension funds are opting to stay pat with their existing positions, citing the risks of investing in the sector as approvals of new data centers are becoming more constrained. The $3.1 billion Jacksonville (Fla.) Police & Fire Pension Fund cited data center risks in passing on a digital infrastructure fund, electing not to go forward with funds that are specifically dedicated to the sector. Read More
Quick Facts
PLAN
The City of Fort Lauderdale is the sponsor of the Fort Lauderdale Police and Firefighters’ Retirement System. All Fort Lauderdale sworn police officers and firefighters are eligible to participate in the plan. A seven-member Board of Trustees, who are either elected by the employees or appointed, administer the pension plan. The plan is a defined benefit plan that promises to pay a guaranteed benefit at retirement.
MEMBERS
- 794 – Active members
- 1,353 – Retired members and beneficiaries
- 2,144 – TOTAL PLAN PARTICIPANTS
FUNDING Public safety officers contribute 10% of earnings into the pension plan. Members also pay 7.65% of earnings into Social Security and Medicare. Additional revenue to the pension plan comes from the State of Florida insurance premium tax, the City of Fort Lauderdale, and earnings generated on the invested assets. The plan’s investment returns provide 72% of the plan’s funding. Over the past 35 years, the plan had an average total return of 8.51%, with positive returns during 29 years.
BENEFITS Retirement benefits are based on (1) average final earnings, (2) years of service, and (3) a benefit formula. Public safety officers can retire after 20 years of creditable service (or after 10 years at age 55). Overtime and unused leave do not increase retirement benefits. After 20 years of service, public safety officers are eligible to receive a retirement benefit equaling 60% of their monthly earnings. Retirement benefits are not automatically adjusted annually for cost – of – living changes. Retirees have not received a COLA since 2001.
DISABILITY Service-related disability benefits provided by the plan cannot exceed 65% of current monthly earnings. Non-service benefits cannot exceed 50% of monthly earnings, with reductions for Social Security benefits, Workers Compensation, or other earned income. The Fort Lauderdale Police and Firefighters’ Retirement System was established by City Ordinance and became effective January 3, 1973. As of 9-30-2025, the pension fund assets totaled $1.3 billion.
For more information, see the Annual Report Newsletter