Miami Fire and Police Basics

  • Established 1931
  • Currently open 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, Miami Fire and Police, 2003-2018

Fiscal Year Net Assets (billions)
2003 1.0
2004 1.2
2005 1.3
2006 1.4
2007 1.6
2008 1.3
2009 1.3
2010 1.3
2011 1.3
2012 1.4
2013 1.5
2014 1.7
2015 1.7
2016 1.7
2017 1.7
2018 1.6

Source: Public Plans Database

Number of Actives per Annuitant, 2003-2018

Fiscal Year Miami Fire and Police US State and Local Pensions
2003 1.1 1.3
2004 0.9 1.3
2005 0.8 1.3
2006 0.8 1.3
2007 0.8 1.3
2008 0.9 1.3
2009 0.7 1.3
2010 0.5 1.2
2011 0.4 1.2
2012 0.5 1.2
2013 0.5 1.1
2014 0.6 1.1
2015 0.7 1.1
2016 0.8 1.1
2017 0.9 1.0
2018 0.9 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 Miami Fire and Police, 2003-2018

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}
2003 18.4 0.0 17.5 18.4 18.4
2004 40.7 0.0 20.1 40.7 40.7
2005 49.8 0.0 21.2 49.8 49.8
2006 56.0 0.0 22.8 56.0 56.0
2007 39.1 0.0 25.0 39.1 39.1
2008 27.9 0.0 25.2 27.9 27.9
2009 30.3 0.0 26.2 30.3 30.3
2010 73.6 0.0 27.6 73.6 73.6
2011 57.4 0.0 29.6 57.4 57.4
2012 57.7 0.0 31.0 57.7 57.7
2013 53.3 0.0 31.2 53.3 53.3
2014 50.5 0.0 31.8 50.5 50.5
2015 45.7 0.0 33.9 45.8 45.8
2016 36.6 0.0 35.3 36.6 36.6
2017 37.6 0.0 33.3 37.6 37.6
2018 34.2 0.0 33.1 34.2 34.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Miami Fire and Police, 2003-2018

Fiscal Year Miami Fire and Police National Data
2003 84.0 85.5
2004 85.0 81.5
2005 91.0 79.2
2006 91.0 80.4
2007 96.0 84.0
2008 70.0 78.7
2009 63.0 77.3
2010 66.0 75.2
2011 72.0 71.9
2012 73.0 70.6
2013 72.5 70.8
2014 72.0 72.1
2015 71.0 74.1
2016 69.6 72.5
2017 68.1 72.0
2018 65.3 72.8

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 Miami Fire and Police, 2018

Category Percent
Equities 45.5
Fixed Income 30.9
Private Equity 6.8
Real Estate 12.6
Cash 4.3
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.1
Fixed Income 22.5
Private Equity 8.9
Real Estate 8.4
Cash 1.8
Other 0.2
Commodities 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Miami Fire and Police, 2003-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2003 58.0 32.0 0.0 8.0 2.0 0.0 0.0 0.0 0.0
2004 60.6 30.1 0.0 8.1 1.3 0.0 0.0 0.0 0.0
2005 63.0 29.0 0.0 8.0 0.0 0.0 0.0 0.0 0.0
2006 62.7 28.2 0.0 9.0 0.1 0.0 0.0 0.0 0.0
2007 64.0 26.3 0.3 9.2 0.2 0.0 0.0 0.0 0.0
2008 56.9 33.0 1.1 9.0 0.0 0.0 0.0 0.0 0.0
2009 59.8 31.2 1.6 7.1 0.3 0.0 0.0 0.0 0.0
2010 52.9 37.4 2.0 7.4 0.3 0.0 0.0 0.0 0.0
2011 49.2 39.7 2.7 8.2 0.2 0.0 0.0 0.0 0.0
2012 48.8 38.4 2.9 8.9 1.0 0.0 0.0 0.0 0.0
2013 52.1 36.1 3.5 8.0 0.3 0.0 0.0 0.0 0.0
2014 47.1 40.0 3.9 8.6 0.3 0.0 0.0 0.0 0.0
2015 45.3 38.9 4.9 10.8 0.1 0.0 0.0 0.0 0.0
2016 39.6 28.8 6.5 11.7 2.2 0.0 0.0 11.3 0.0
2017 39.2 31.5 9.0 11.0 2.8 0.0 0.0 6.5 0.0
2018 45.5 30.9 6.8 12.6 4.3 0.0 0.0 0.0 0.0

Source: Public Plans Database


Annual Return as of September 30 for Miami Fire and Police, 2003-2018

Fiscal Year Miami Fire and Police Assumed return
2003 15.61 7.75
2004 12.62 7.75
2005 15.26 7.75
2006 8.84 7.75
2007 14.29 7.75
2008 -14.44 7.75
2009 -0.15 7.75
2010 9.90 7.75
2011 5.80 7.50
2012 17.90 7.50
2013 12.50 7.50
2014 8.80 7.50
2015 2.40 7.42
2016 9.30 7.42
2017 9.60 7.42
2018 7.40 7.34

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Miami Fire and Police
2003-2018

Fiscal Year Cash Flow Assets
2003 -30.1 1,039.6
2004 -2.4 1,168.2
2005 -9.4 1,336.4
2006 -23.9 1,429.6
2007 -30.8 1,600.8
2008 -48.4 1,324.8
2009 -55.6 1,267.1
2010 -49.4 1,339.5
2011 -88.9 1,297.2
2012 -89.4 1,425.3
2013 -91.8 1,499.8
2014 -84.9 1,748.7
2015 -109.9 1,674.7
2016 -107.5 1,700.1
2017 -118.3 1,732.5
2018 -87.0 1,566.7

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Miami Fire and Police
2003-2018

Fiscal Year Miami Fire and Police National Average
2003 -2.9 -2.3
2004 -0.2 -1.8
2005 -0.7 0.8
2006 -1.7 -1.4
2007 -1.9 -1.4
2008 -3.7 -1.5
2009 -4.4 -2.3
2010 -3.7 -2.1
2011 -6.9 -2.0
2012 -6.3 -2.2
2013 -6.1 -2.4
2014 -4.9 -1.9
2015 -6.6 -1.7
2016 -6.3 -2.1
2017 -6.8 -2.1
2018 -5.6 -2.2

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports