Detroit Police and Fire Basics

  • Established 1941
  • Currently closed to new hires
  • Plan covers police and/or fire
  • Plan members not covered by Social Security
  • Single employer

Assets, Participants, and Benefits

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

Fiscal Year Net Assets (billions)
2001 3.5
2002 3.0
2003 2.9
2004 3.1
2005 3.8
2006 4.0
2007 4.5
2008 4.0
2009 3.1
2010 3.0
2011 3.4
2012 3.0
2013 3.0
2014 3.3
2015 3.2
2016 3.0
2017 2.9
2018 2.9

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Detroit Police and Fire US State and Local Pensions
2001 0.7 1.4
2002 0.7 1.4
2003 0.6 1.3
2004 0.6 1.3
2005 0.6 1.3
2006 0.5 1.3
2007 0.5 1.3
2008 0.5 1.3
2009 0.5 1.3
2010 0.5 1.2
2011 0.5 1.2
2012 0.4 1.2
2013 0.3 1.1
2014 0.3 1.1
2015 0.3 1.1
2016 0.3 1.1
2017 0.3 1.0
2018 0.3 1.0

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 Detroit 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 5.7 0.0 14.5 5.7 5.7
2002 3.4 0.0 13.5 3.4 3.4
2003 26.9 0.0 17.5 26.9 26.9
2004 26.9 0.0 20.1 26.9 26.9
2005 20.6 0.0 21.2 20.6 20.6
2006 25.3 0.0 22.8 25.3 25.3
2007 24.9 0.0 25.0 24.9 24.9
2008 17.7 7.6 25.2 25.3 25.3
2009 15.6 10.8 26.2 26.4 26.4
2010 14.4 10.9 27.6 25.3 25.3
2011 37.0 0.0 29.6 37.0 37.0
2012 10.2 14.0 31.0 24.2 24.2
2013 11.6 11.9 31.2 23.5 23.5
2014 0.0 41.9 32.0 41.9 41.9
2015 null null 33.9 0.0 0.0
2016 null null 35.3 0.0 0.0
2017 null null 33.4 0.0 0.0
2018 null null 32.5 0.0 0.0

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

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

Fiscal Year Detroit Police and Fire National Data
2001 112.6 98.0
2002 103.2 88.4
2003 86.1 85.5
2004 79.7 81.5
2005 99.4 79.2
2006 104.5 80.4
2007 110.5 84.0
2008 106.0 78.7
2009 93.5 77.3
2010 102.3 75.2
2011 99.9 71.9
2012 96.1 70.6
2013 89.3 70.8
2014 81.8 72.1
2015 78.2 74.1
2016 73.5 72.5
2017 74.3 72.5
2018 74.2 73.3

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 Detroit Police and Fire, 2018

Category Percent
Equities 52.0
Fixed Income 18.7
Private Equity 4.8
Real Estate 0.0
Cash 1.8
Other 3.1
Commodities 14.4
Hedge Fund 5.3
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.4
Fixed Income 21.8
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.1
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Detroit Police and Fire, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 64.4 7.2 10.3 2.1 4.5 11.5 0.0 0.0 0.0
2002 71.9 7.8 13.9 3.6 2.9 0.0 0.0 0.0 0.0
2003 70.8 7.8 15.4 3.6 2.4 0.0 0.0 0.0 0.0
2004 54.7 25.7 13.5 3.8 2.3 0.0 0.0 0.0 0.0
2005 48.3 20.7 10.2 3.4 17.2 0.0 0.0 0.0 0.0
2006 62.6 20.6 7.3 3.2 1.8 4.5 0.0 0.0 0.0
2007 63.5 18.9 9.3 4.3 1.9 2.1 0.0 0.0 0.0
2008 56.3 21.3 7.2 9.9 1.6 3.7 0.0 0.0 0.0
2009 50.5 23.5 9.7 13.3 0.2 2.8 0.0 0.0 0.0
2010 52.0 22.9 9.4 11.1 2.5 2.1 0.0 0.0 0.0
2011 52.3 20.3 9.8 11.8 1.4 4.4 0.0 0.0 0.0
2012 50.5 25.4 9.7 10.1 2.4 2.0 0.0 0.0 0.0
2013 54.6 23.7 9.4 9.3 1.9 1.1 0.0 0.0 0.0
2014 40.7 26.1 13.2 14.1 4.0 1.9 0.0 0.0 0.0
2015 44.0 22.2 14.6 12.3 3.7 3.2 0.0 0.0 0.0
2016 47.5 21.2 2.6 0.0 3.0 2.8 18.2 4.8 0.0
2017 52.5 20.0 2.5 0.0 2.8 2.4 14.7 5.1 0.0
2018 52.0 18.7 4.8 0.0 1.8 3.1 14.4 5.3 0.0

Source: Public Plans Database


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

Fiscal Year Detroit Police and Fire Assumed return
2001 -11.36 7.80
2002 -8.56 7.80
2003 2.72 7.80
2004 14.89 7.80
2005 8.20 7.80
2006 10.10 7.80
2007 17.40 7.80
2008 -6.30 7.50
2009 -14.80 7.50
2010 16.90 8.00
2011 13.92 8.00
2012 -1.47 8.00
2013 9.74 8.00
2014 18.40 6.75
2015 3.40 6.75
2016 2.50 6.75
2017 12.00 6.75
2018 8.20 6.75

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

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

Fiscal Year Cash Flow Assets
2001 -284.8 3,483.6
2002 -205.5 2,988.9
2003 -189.2 2,878.3
2004 -171.4 3,122.5
2005 446.6 3,829.0
2006 -175.2 4,035.4
2007 -198.2 4,481.3
2008 -206.7 3,974.6
2009 -209.5 3,052.2
2010 -239.6 3,017.9
2011 -252.7 3,380.1
2012 -267.3 2,974.5
2013 -343.1 3,034.6
2014 -327.1 3,276.2
2015 -206.6 3,194.8
2016 -269.8 2,950.5
2017 -312.2 2,922.1
2018 -295.0 2,866.3

Source: Public Plans Database


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

Fiscal Year Detroit Police and Fire National Average
2001 -8.2 -2.2
2002 -6.9 -2.2
2003 -6.6 -2.3
2004 -5.5 -1.8
2005 11.7 0.8
2006 -4.3 -1.4
2007 -4.4 -1.4
2008 -5.2 -1.5
2009 -6.9 -2.3
2010 -7.9 -2.1
2011 -7.5 -2.0
2012 -9.0 -2.2
2013 -11.3 -2.4
2014 -10.0 -1.9
2015 -6.5 -1.7
2016 -9.1 -2.2
2017 -10.7 -2.1
2018 -10.3 -2.2

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Detroit Police and Fire benefit descriptions.