Plan Data | Public Plans Data

Lexington-Fayette County Police and Fire Basics

Established 1974
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 2022 (Federal Reserve Flow of Funds, June 2024). 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, Lexington-Fayette County Police and Fire, 2005-2023

Fiscal Year	Net Assets (billions)
2005	0.36
2006	0.37
2007	0.41
2008	0.40
2009	0.37
2010	0.42
2011	0.49
2012	0.51
2013	0.56
2014	0.64
2015	0.63
2016	0.62
2017	0.70
2018	0.75
2019	0.77
2020	0.79
2021	1.00
2022	0.84
2023	0.89

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, 2001-2023

Fiscal Year	Lexington-Fayette County Police and Fire	US State and Local Pensions
2001	null	2.4
2002	1.3	2.3
2003	1.2	2.2
2004	1.2	2.1
2005	1.2	2.1
2006	1.3	2.0
2007	1.3	2.0
2008	1.2	1.9
2009	1.3	1.9
2010	1.2	1.8
2011	1.1	1.7
2012	1.0	1.6
2013	1.0	1.5
2014	1.0	1.4
2015	1.0	1.4
2016	1.0	1.4
2017	1.0	1.4
2018	1.0	1.3
2019	0.9	1.3
2020	0.9	1.3
2021	0.8	1.2
2022	0.8	1.2
2023	0.8	1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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2023 Membership for Lexington-Fayette County Police and Fire

Actives	Beneficiaries	Total Membership
1,114	1,459	2,573

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 Lexington-Fayette County Police and Fire, 2001-2023

Fiscal Year	Portion of Employer ARC paid	Portion of Employer ARC left unpaid	US Avg Employer ARC	ARC as a Percent of Payroll
2001	22.5	6.9	13.5	29.4
2002	23.3	11.4	14.9	34.7
2003	24.7	10.5	19.4	35.2
2004	25.4	16.9	20.1	42.3
2005	22.6	10.3	24.8	33.0
2006	24.7	0.0	26.3	22.2
2007	28.6	1.8	27.8	30.4
2008	30.6	13.4	30.0	44.0
2009	127.8	0.0	32.9	43.6
2010	81.7	0.0	33.2	50.7
2011	22.4	21.5	35.0	43.9
2012	87.2	0.0	36.8	52.6
2013	35.7	0.0	37.5	35.7
2014	36.7	0.0	34.3	36.7
2015	36.6	0.0	35.0	36.6
2016	37.5	0.0	35.6	37.5
2017	40.6	0.0	34.1	40.6
2018	37.7	0.0	35.0	37.7
2019	39.3	0.0	35.8	39.3
2020	41.8	0.0	34.9	41.8
2021	41.8	0.0	36.0	41.8
2022	39.7	0.0	36.5	39.7
2023	null	0.0	35.1	null

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 Lexington-Fayette County Police and Fire, 2001-2023

Fiscal Year	Lexington-Fayette County Police and Fire	National Data
2001	77.6	101.7
2002	73.1	94.6
2003	66.1	88.8
2004	70.5	87.0
2005	68.3	85.4
2006	62.8	85.2
2007	63.3	86.3
2008	62.9	84.4
2009	63.1	78.4
2010	69.4	75.7
2011	66.0	74.3
2012	76.5	72.3
2013	72.3	71.8
2014	76.2	73.2
2015	78.4	73.2
2016	77.8	71.6
2017	72.4	72.0
2018	74.1	72.4
2019	74.2	72.5
2020	75.0	72.6
2021	79.5	75.8
2022	72.6	76.2
2023	70.7	74.2

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 Lexington-Fayette County Police and Fire, 2023

Category	Percent
Equities	null
Fixed Income	null
Private Equity	null
Real Estate	null
Cash	null
Other	null
Commodities	null
Hedge Fund	null
Misc. Alternatives	null

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category	Percent
Equities	42.2
Fixed Income	20.5
Private Equity	14.0
Real Estate	10.5
Cash	1.8
Other	0.1
Commodities	2.7
Hedge Fund	6.6
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 Lexington-Fayette County Police and Fire, 2001-2023

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	null	null	null	null	null	null	null	null	null
2013	null	null	null	null	null	null	null	null	null
2014	null	null	null	null	null	null	null	null	null
2015	null	null	null	null	null	null	null	null	null
2016	null	null	null	null	null	null	null	null	null
2017	null	null	null	null	null	null	null	null	null
2018	null	null	null	null	null	null	null	null	null
2019	null	null	null	null	null	null	null	null	null
2020	null	null	null	null	null	null	null	null	null
2021	null	null	null	null	null	null	null	null	null
2022	null	null	null	null	null	null	null	null	null
2023	null	null	null	null	null	null	null	null	null

Source: Public Plans Database

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Annual Return as of June 30 for Lexington-Fayette County Police and Fire, 2005-2023

Fiscal Year	Lexington-Fayette County Police and Fire	Assumed return
2005	11.10	8.00
2006	7.24	8.00
2007	13.73	8.00
2008	-0.38	8.00
2009	-20.24	8.00
2010	8.91	8.00
2011	21.29	8.00
2012	1.38	7.50
2013	12.65	7.50
2014	7.45	7.50
2015	3.08	7.50
2016	-0.23	7.50
2017	6.20	7.50
2018	18.37	7.50
2019	11.09	7.50
2020	9.06	7.50
2021	6.39	7.50
2022	25.24	7.00
2023	-20.88	7.00

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

Lexington-Fayette County Police and Fire	PPD Sample
5.0	7.2

Annualized 10-Year Return

Lexington-Fayette County Police and Fire	PPD Sample
5.9	7.8

Cash Flows

Cash Flow vs. Total Assets (Millions)
Lexington-Fayette County Police and Fire
2005-2023

Fiscal Year	Cash Flow	Assets
2005	-10.2	355.5
2006	-9.8	371.0
2007	-9.4	411.9
2008	-7.7	400.4
2009	56.5	368.6
2010	19.3	421.6
2011	-18.1	491.4
2012	11.2	509.4
2013	-16.1	556.7
2014	-16.8	636.3
2015	-18.4	634.7
2016	-19.2	619.9
2017	-15.9	695.2
2018	-21.0	745.2
2019	-20.6	766.8
2020	-20.6	790.4
2021	-25.8	995.3
2022	-25.1	842.0
2023	-30.4	888.9

Note: 2009 cash flow includes $70M in proceeds from POB.

Source: Public Plans Database

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2023 Cash Flows for Lexington-Fayette County Police and Fire (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
51.4	81.9	77.4	46.9

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
Lexington-Fayette County Police and Fire
2005-2023

Fiscal Year	Lexington-Fayette County Police and Fire	National Average
2005	-2.9	-2.2
2006	-2.6	-2.2
2007	-2.3	-2.0
2008	-1.9	-2.1
2009	15.3	-3.1
2010	4.6	-3.2
2011	-3.7	-3.0
2012	2.2	-3.2
2013	-2.9	-3.1
2014	-2.6	-2.9
2015	-2.9	-2.7
2016	-3.1	-2.9
2017	-2.3	-2.8
2018	-2.8	-2.4
2019	-2.7	-2.4
2020	-2.6	-2.3
2021	-2.6	-2.0
2022	-3.0	-1.9
2023	-3.4	-1.9

Note: 2009 cash flow includes $70M in proceeds from POB.

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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2022 Financial Reports

Benefits

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Plan Data: Lexington-Fayette County Police and Fire

Lexington-Fayette County Police and Fire Basics

Assets, Participants, and Benefits

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2023 Membership for Lexington-Fayette County Police and 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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2023 Cash Flows for Lexington-Fayette County Police and Fire (millions)

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2022 Financial Reports

Benefits

Contact information (OPTIONAL)