Plan Data | Public Plans Data

Sioux Falls Fire Basics

Established
Currently open to new hires
Plan covers police and/or fire
Plan members covered by Social Security
Single employer

Assets, Participants, and Benefits

State and local government pension benefits are paid from trust funds to which public employees and their employers contributed while they were working, not from general operating revenues. Trust fund assets are invested and grow over time. The combined value of defined benefit plan assets held by state and local governments as of Q2 2022 decreased to $5.3 trillion, from $5.7 trillion as of Q2 2021 (Federal Reserve Flow of Funds, June 2023). PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Assets at Year-End, Sioux Falls Fire, 2001-2022

Fiscal Year	Net Assets (billions)
2001	0.06
2002	0.06
2003	0.07
2004	0.08
2005	0.08
2006	0.09
2007	0.10
2008	0.07
2009	0.08
2010	0.09
2011	0.09
2012	0.10
2013	0.12
2014	0.13
2015	0.13
2016	0.14
2017	0.16
2018	0.16
2019	0.18
2020	0.20
2021	0.23
2022	0.19

Source: Public Plans Database

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State and local employees make up around 10-15 percent of the US workforce. About a quarter of public sector workers are covered by a public pension in lieu of Social Security, including nearly half of all teachers and over two-thirds of firefighters and public safety officers. Public employees live in every city and county in the nation; more than 90 percent retire in the same jurisdiction where they worked. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Number of Actives per Annuitant, 2001-2022

Fiscal Year	Sioux Falls Fire	US State and Local Pensions
2001	1.5	2.4
2002	1.6	2.3
2003	1.5	2.2
2004	1.3	2.1
2005	1.3	2.1
2006	1.3	2.0
2007	1.3	2.0
2008	1.3	1.9
2009	1.2	1.9
2010	1.2	1.8
2011	1.1	1.7
2012	1.2	1.6
2013	1.2	1.5
2014	1.0	1.4
2015	1.0	1.4
2016	0.9	1.4
2017	0.9	1.4
2018	0.9	1.3
2019	0.8	1.3
2020	0.7	1.3
2021	0.6	1.2
2022	0.6	1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Membership for Sioux Falls Fire

Actives	Beneficiaries	Total Membership
109	190	306

Source: Public Plans Database

Costs

The Annual Required Contribution (ARC) is the amount needed to finance benefits accrued each year, plus the cost to amortize unfunded liabilities from past years, minus required employee contributions. It is a projection that matches a yearly payment amount to a particular amortization period, taking into consideration an assortment of assumptions adopted by the plan. In practice, all plans do not calculate the ARC in the same manner. Assumptions used to calculate the ARC reflect actual plan experience, including investment return , actuarial cost, salary growth, total payroll growth and mortality, as well as an adopted amortization method. These assumptions and methods will differ from one plan another, so caution should be taken when comparing ARC between plans. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Sioux Falls Fire, 2001-2022

Fiscal Year	Portion of Employer ARC paid	Portion of Employer ARC left unpaid	US Avg Employer ARC	ARC as a Percent of Payroll
2001	null	null	13.5	null
2002	null	null	14.9	null
2003	null	null	19.3	null
2004	null	null	20.1	null
2005	null	null	24.8	null
2006	null	null	26.3	null
2007	null	null	27.8	null
2008	null	null	30.0	null
2009	null	null	32.9	null
2010	null	null	33.1	null
2011	null	null	35.0	null
2012	null	null	36.8	null
2013	null	null	37.5	null
2014	41.1	0.0	34.3	41.1
2015	39.4	0.0	34.4	39.4
2016	38.4	0.0	35.3	38.4
2017	40.9	0.0	34.0	40.9
2018	36.5	0.0	35.1	36.5
2019	34.3	0.0	36.7	34.3
2020	32.7	0.0	35.7	32.7
2021	37.2	0.0	37.3	36.5
2022	37.1	0.0	37.4	37.1

Note: The employer's annual required contribution as a percent of payroll is calculated by dividing the dollar amount reported in the schedule of employer contributions by the covered payroll reported in the schedule of funding. The U.S. Average Employer data reflects the average for plans of similar type and social Security coverage to the plan.

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

While funded ratios among pension plans vary substantially, in the aggregate, public pension funding levels rose steadily during the 1990s, due largely to strong returns in global equity markets. Since then, sharp market downturns in 2000-02 and 2008-09 negatively affected asset values and increased unfunded pension liabilities and required contributions. A combination of the market downturns, insufficient contributions (for some plans), and increased benefit levels (also for some plans) resulted in a decline in aggregate funding level between 2001 and 2012, and has since remained relatively stable.

Actuarial Funded Ratio for Sioux Falls Fire, 2001-2022

Fiscal Year	Sioux Falls Fire	National Data
2001	104.7	101.7
2002	101.4	94.8
2003	98.4	89.0
2004	93.1	87.2
2005	92.0	85.4
2006	94.3	85.3
2007	97.9	86.3
2008	91.2	84.4
2009	86.4	78.4
2010	87.0	75.7
2011	84.1	74.3
2012	78.7	72.3
2013	80.4	71.9
2014	82.0	73.2
2015	82.4	73.2
2016	85.7	71.6
2017	99.5	72.1
2018	98.5	72.4
2019	97.9	72.5
2020	98.6	72.7
2021	114.2	76.2
2022	111.0	77.1

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

The major asset allocation classes presented in the PPD are generated from the specific asset classes that plans report. For consistent reporting in the PPD, the individual asset classes reported by plans are categorized as one of eight major asset classes: equity, fixed income, real estate, private equity, hedge funds, commodities, misc. alternative assets, cash, and other. For more details on the PPD allocation data please see documentation.

Asset Allocation for Sioux Falls Fire, 2022

Category	Percent
Equities	65.3
Fixed Income	24.7
Private Equity	0.0
Real Estate	10.0
Cash	0.0
Other	0.0
Commodities	0.0
Hedge Fund	0.0
Misc. Alternatives	0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2022

Category	Percent
Equities	42.7
Fixed Income	20.8
Private Equity	13.0
Real Estate	10.2
Cash	2.1
Other	0.6
Commodities	2.3
Hedge Fund	6.5
Misc. Alternatives	1.8

Note: The most recent year of data contains virtually all the plans in the PPD.

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Sioux Falls Fire, 2001-2022

Fiscal Year	Equities	Fixed Income	Private Equity	Real Estate	Cash	Other	Commodities	Hedge Fund	Misc. Alternatives
2001	null	null	null	null	null	null	null	null	null
2002	null	null	null	null	null	null	null	null	null
2003	null	null	null	null	null	null	null	null	null
2004	null	null	null	null	null	null	null	null	null
2005	null	null	null	null	null	null	null	null	null
2006	null	null	null	null	null	null	null	null	null
2007	null	null	null	null	null	null	null	null	null
2008	null	null	null	null	null	null	null	null	null
2009	null	null	null	null	null	null	null	null	null
2010	null	null	null	null	null	null	null	null	null
2011	null	null	null	null	null	null	null	null	null
2012	69.8	24.4	0.0	5.8	0.0	0.0	0.0	0.0	0.0
2013	72.4	22.0	0.0	5.6	0.0	0.0	0.0	0.0	0.0
2014	null	null	null	null	null	null	null	null	null
2015	68.9	24.1	0.0	7.0	0.0	0.0	0.0	0.0	0.0
2016	70.2	22.8	0.0	7.0	0.0	0.0	0.0	0.0	0.0
2017	70.2	22.3	0.0	6.6	0.9	0.0	0.0	0.0	0.0
2018	64.8	25.6	0.0	7.9	1.7	0.0	0.0	0.0	0.0
2019	68.6	24.5	0.0	6.9	0.0	0.0	0.0	0.0	0.0
2020	71.3	22.5	0.0	6.2	0.0	0.0	0.0	0.0	0.0
2021	68.2	22.7	0.0	7.8	1.3	0.0	0.0	0.0	0.0
2022	65.3	24.7	0.0	10.0	0.0	0.0	0.0	0.0	0.0

Source: Public Plans Database

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Annual Return as of December 31 for Sioux Falls Fire, 2001-2022

Fiscal Year	Sioux Falls Fire	Assumed return
2001	-1.59	8.00
2002	-10.54	8.00
2003	27.10	8.00
2004	14.20	8.00
2005	9.20	8.00
2006	16.30	8.00
2007	8.60	8.00
2008	-26.40	7.75
2009	24.40	7.75
2010	14.80	7.75
2011	2.60	7.75
2012	14.80	7.75
2013	20.50	7.65
2014	7.10	7.65
2015	0.15	7.50
2016	8.76	7.50
2017	17.03	7.30
2018	-3.83	7.30
2019	20.49	7.00
2020	13.17	7.30
2021	14.88	7.00
2022	-13.99	7.30

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page. The FYE date for the majority of plans is either June 30th or December 31st. Those with FYE dates that do not fall on either of those two dates are compared with the June 30th plans. The PPD average return includes plans that report gross returns and returns net of fees.

Source: Public Plans Database

National data averages are weighted by plan size.

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Annualized 5-Year Return

Sioux Falls Fire	PPD Sample
5.3	8.3

Annualized 10-Year Return

Sioux Falls Fire	PPD Sample
7.9	8.6

Cash Flows

Cash Flow vs. Total Assets (Millions)
Sioux Falls Fire
2001-2022

Fiscal Year	Cash Flow	Assets
2001	-1.0	62.9
2002	-1.2	55.1
2003	-1.2	68.2
2004	-1.4	76.5
2005	-1.6	81.5
2006	-1.3	92.7
2007	-1.1	99.1
2008	-1.3	71.4
2009	-2.2	82.2
2010	-2.2	92.4
2011	-2.0	92.2
2012	-2.2	103.2
2013	-1.1	123.0
2014	-1.5	130.2
2015	-1.4	128.8
2016	-1.7	137.8
2017	-1.8	164.9
2018	-2.2	155.9
2019	-2.9	183.6
2020	-3.4	203.6
2021	-3.9	228.6
2022	-5.0	191.8

Source: Public Plans Database

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2022 Cash Flows for Sioux Falls Fire (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
5.2	10.2	-31.8	-36.8

Source: Public Plans Database

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Cash Flow as a Percentage of Assets
Sioux Falls Fire
2001-2022

Fiscal Year	Sioux Falls Fire	National Average
2001	-1.6	-2.2
2002	-2.2	-2.6
2003	-1.8	-2.5
2004	-1.9	-2.6
2005	-2.0	-2.2
2006	-1.5	-2.2
2007	-1.1	-2.3
2008	-1.9	-2.9
2009	-2.7	-3.2
2010	-2.4	-3.2
2011	-2.2	-3.4
2012	-2.1	-3.3
2013	-0.9	-3.1
2014	-1.1	-2.9
2015	-1.1	-3.1
2016	-1.2	-3.2
2017	-1.1	-2.9
2018	-1.4	-3.1
2019	-1.6	-3.1
2020	-1.7	-2.8
2021	-1.7	-2.5
2022	-2.6	-2.9

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Source: Public Plans Database

National data averages are weighted by plan size.

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Plan Data: Sioux Falls Fire

Sioux Falls Fire Basics

Assets, Participants, and Benefits

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2022 Membership for Sioux Falls Fire

Costs

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Actuarial Funding

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Investments

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Annualized 5-Year Return

Annualized 10-Year Return

Cash Flows

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2022 Cash Flows for Sioux Falls Fire (millions)

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2022 Financial Reports

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