Minnesota Police and Fire Basics

  • Established 1959
  • Currently open to new hires
  • Plan covers police and/or fire
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Minnesota Police and Fire, 2001-2018

Fiscal Year Net Assets (billions)
2001 4.2
2002 3.8
2003 3.7
2004 4.1
2005 4.4
2006 4.8
2007 5.5
2008 5.1
2009 4.0
2010 4.5
2011 5.3
2012 5.8
2013 6.3
2014 7.3
2015 7.3
2016 7.1
2017 7.9
2018 8.5

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Minnesota Police and Fire US State and Local Pensions
2001 1.6 1.9
2002 1.7 1.8
2003 1.6 1.7
2004 1.6 1.6
2005 1.5 1.6
2006 1.6 1.5
2007 1.5 1.5
2008 1.5 1.5
2009 1.5 1.5
2010 1.4 1.4
2011 1.4 1.3
2012 1.2 1.3
2013 1.1 1.2
2014 1.1 1.2
2015 1.1 1.2
2016 1.1 1.2
2017 1.1 1.3
2018 1.1 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Minnesota Police and Fire, 2001-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 10.6 0.0 12.1 6.0 6.0
2002 17.4 0.0 12.8 6.1 6.1
2003 9.1 0.0 14.8 6.3 6.3
2004 9.6 3.3 16.9 12.9 12.9
2005 9.6 5.9 21.2 15.5 15.5
2006 10.3 7.1 23.7 17.4 17.4
2007 11.5 6.4 25.5 17.9 17.9
2008 12.4 8.2 28.0 20.5 20.5
2009 13.9 5.3 29.1 19.2 19.2
2010 14.5 5.8 29.3 20.3 20.3
2011 14.1 1.9 31.2 16.0 16.0
2012 15.3 3.8 33.6 19.2 19.2
2013 15.8 7.9 34.7 23.8 23.8
2014 17.3 2.7 33.8 20.0 20.0
2015 18.1 5.2 33.7 23.3 23.3
2016 18.7 2.8 34.0 21.5 21.5
2017 18.6 0.0 33.3 17.5 17.5
2018 18.4 1.4 35.5 19.8 19.8

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Minnesota Police and Fire, 2001-2018

Fiscal Year Minnesota Police and Fire National Data
2001 120.5 107.1
2002 120.2 101.2
2003 106.7 91.9
2004 101.2 85.3
2005 97.2 84.3
2006 95.4 80.8
2007 91.7 80.2
2008 88.4 79.6
2009 83.2 77.6
2010 87.0 73.2
2011 82.9 72.2
2012 78.3 71.9
2013 81.2 72.7
2014 80.1 72.2
2015 83.6 72.4
2016 87.7 72.2
2017 85.2 74.0
2018 87.1 74.7

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Minnesota Police and Fire, 2018

Category Percent
Equities 60.8
Fixed Income 24.3
Private Equity 0.0
Real Estate 0.0
Cash 1.1
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 13.8

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Minnesota Police and Fire, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 61.8 24.2 0.0 0.0 0.9 0.0 0.0 0.0 13.1
2002 62.3 24.2 0.0 0.0 0.2 0.0 0.0 0.0 13.3
2003 62.1 23.5 0.0 0.0 0.5 0.0 0.0 0.0 13.9
2004 63.3 21.0 0.0 0.0 3.0 0.0 0.0 0.0 12.7
2005 65.6 23.4 0.0 0.0 1.2 0.0 0.0 0.0 9.8
2006 64.8 23.1 0.0 0.0 0.9 0.0 0.0 0.0 11.2
2007 65.9 22.1 0.0 0.0 1.1 0.0 0.0 0.0 10.9
2008 61.3 23.6 0.0 0.0 0.6 0.0 0.0 0.0 14.5
2009 60.9 22.3 0.0 0.0 2.0 0.0 0.0 0.0 14.8
2010 57.8 24.9 0.0 0.0 2.0 0.0 0.0 0.0 15.3
2011 60.8 22.2 0.0 0.0 2.4 0.0 0.0 0.0 14.6
2012 60.1 22.3 0.0 0.0 1.9 0.0 0.0 0.0 15.7
2013 60.0 23.0 0.0 0.0 2.5 0.0 0.0 0.0 14.5
2014 61.4 23.4 0.0 0.0 2.6 0.0 0.0 0.0 12.6
2015 62.2 23.6 0.0 0.0 1.9 0.0 0.0 0.0 12.3
2016 60.4 24.7 0.0 0.0 2.1 0.0 0.0 0.0 12.8
2017 66.0 19.0 0.0 0.0 2.0 0.0 0.0 0.0 13.0
2018 60.8 24.3 0.0 0.0 1.1 0.0 0.0 0.0 13.8

Source: Public Plans Database


Annual Return as of June 30 for Minnesota Police and Fire, 2001-2018

Fiscal Year Minnesota Police and Fire Assumed return
2001 -7.10 8.50
2002 -8.00 8.50
2003 2.40 8.50
2004 16.50 8.50
2005 10.70 8.50
2006 12.30 8.50
2007 18.30 8.50
2008 -5.00 8.50
2009 -18.80 8.50
2010 15.20 8.50
2011 23.30 8.50
2012 2.40 8.00
2013 14.20 8.00
2014 18.60 8.00
2015 4.40 8.00
2016 -0.10 8.00
2017 15.10 8.00
2018 10.30 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Minnesota Police and Fire
2001-2018

Fiscal Year Cash Flow Assets
2001 -112.4 4,185.8
2002 -89.6 3,770.0
2003 -141.4 3,708.0
2004 -150.3 4,138.5
2005 -159.7 4,416.3
2006 -159.9 4,802.3
2007 -156.7 5,529.7
2008 -153.3 5,110.8
2009 -143.0 4,001.0
2010 -149.5 4,453.7
2011 -161.7 5,317.0
2012 -190.4 5,772.0
2013 -232.1 6,346.7
2014 -232.0 7,273.1
2015 -242.0 7,348.7
2016 -241.7 7,098.1
2017 -238.2 7,918.9
2018 -246.0 8,486.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Minnesota Police and Fire
2001-2018

Fiscal Year Minnesota Police and Fire National Average
2001 -2.7 -3.2
2002 -2.4 -3.0
2003 -3.8 -4.2
2004 -3.6 -3.1
2005 -3.6 -2.4
2006 -3.3 -1.8
2007 -2.8 -1.2
2008 -3.0 -0.8
2009 -3.6 -0.8
2010 -3.4 -1.1
2011 -3.0 -2.4
2012 -3.3 -1.1
2013 -3.7 -1.1
2014 -3.2 -3.3
2015 -3.3 -1.9
2016 -3.4 -1.7
2017 -3.0 -3.1
2018 -2.9 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Minnesota Police and Fire benefit descriptions.