Charlotte Firefighters' RS Basics

  • Established 1947
  • Currently open to new hires
  • Plan covers police and/or fire
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Charlotte Firefighters' RS, 2001-2019

Fiscal Year Net Assets (billions)
2001 0.2
2002 0.2
2003 0.2
2004 0.3
2005 0.3
2006 0.3
2007 0.4
2008 0.3
2009 0.3
2010 0.3
2011 0.4
2012 0.4
2013 0.4
2014 0.5
2015 0.5
2016 0.5
2017 0.5
2018 0.6
2019 0.6

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Charlotte Firefighters' RS US State and Local Pensions
2001 2.2 1.9
2002 2.1 1.8
2003 2.1 1.7
2004 2.1 1.6
2005 2.1 1.6
2006 2.1 1.5
2007 2.1 1.5
2008 2.1 1.5
2009 2.1 1.5
2010 2.1 1.4
2011 2.0 1.3
2012 2.0 1.3
2013 1.9 1.2
2014 1.8 1.2
2015 1.7 1.2
2016 1.6 1.2
2017 1.5 1.1
2018 1.5 1.1
2019 1.4 1.1

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 Charlotte Firefighters' RS, 2001-2019

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 11.9 0.0 12.1 11.9 11.9
2002 12.7 0.0 12.8 12.7 12.7
2003 12.8 0.0 14.8 12.8 12.8
2004 26.5 0.0 16.9 26.5 26.5
2005 25.7 0.0 21.2 25.7 25.7
2006 25.4 0.0 23.7 25.4 25.4
2007 25.4 0.0 25.5 25.4 25.4
2008 25.8 0.0 28.0 25.8 25.8
2009 26.5 0.0 29.1 26.5 26.5
2010 null null 29.3 12.6 12.6
2011 null null 31.2 13.8 13.8
2012 null null 33.6 13.7 13.7
2013 null null 34.7 14.7 14.7
2014 13.0 3.9 33.8 16.9 16.9
2015 13.0 4.4 33.7 17.4 17.4
2016 13.0 2.3 34.0 15.3 15.3
2017 12.9 0.6 33.2 13.4 13.4
2018 13.0 5.2 35.7 18.2 18.2
2019 13.2 5.8 37.2 19.0 19.0

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Charlotte Firefighters' RS, 2001-2019

Fiscal Year Charlotte Firefighters' RS National Data
2001 96.8 107.1
2002 95.6 101.2
2003 93.9 91.9
2004 94.1 86.3
2005 97.0 83.2
2006 97.8 80.8
2007 100.5 80.2
2008 99.2 79.6
2009 95.7 77.6
2010 90.5 73.2
2011 89.5 72.2
2012 85.0 71.9
2013 84.4 72.7
2014 88.9 72.2
2015 92.7 72.4
2016 86.9 72.2
2017 86.2 72.2
2018 87.6 72.8
2019 82.7 72.9

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 Charlotte Firefighters' RS, 2019

Category Percent
Equities 63.2
Fixed Income 26.1
Private Equity 0.0
Real Estate 9.4
Cash 1.3
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, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Charlotte Firefighters' RS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 65.2 28.0 0.0 3.8 3.1 0.0 0.0 0.0 0.0
2002 61.1 32.2 0.0 4.1 2.6 0.0 0.0 0.0 0.0
2003 66.4 25.0 0.0 5.4 3.3 0.0 0.0 0.0 0.0
2004 71.1 21.7 0.0 5.0 2.2 0.0 0.0 0.0 0.0
2005 69.6 23.7 0.0 5.1 1.5 0.0 0.0 0.0 0.0
2006 71.0 23.0 0.0 5.6 0.4 0.0 0.0 0.0 0.0
2007 73.3 19.8 0.0 5.7 1.2 0.0 0.0 0.0 0.0
2008 68.6 23.0 0.0 6.4 2.0 0.0 0.0 0.0 0.0
2009 62.8 30.8 0.0 4.9 1.5 0.0 0.0 0.0 0.0
2010 64.7 29.9 0.0 3.5 1.8 0.0 0.0 0.0 0.0
2011 70.3 25.1 0.0 3.4 1.3 0.0 0.0 0.0 0.0
2012 68.5 26.2 0.0 3.7 1.7 0.0 0.0 0.0 0.0
2013 69.8 23.0 0.0 2.6 4.6 0.0 0.0 0.0 0.0
2014 67.6 25.5 0.0 2.5 4.4 0.0 0.0 0.0 0.0
2015 67.6 24.8 0.0 5.8 1.8 0.0 0.0 0.0 0.0
2016 61.0 27.2 0.0 10.7 1.2 0.0 0.0 0.0 0.0
2017 64.9 24.5 0.0 9.7 0.9 0.0 0.0 0.0 0.0
2018 64.7 24.7 0.0 9.4 1.2 0.0 0.0 0.0 0.0
2019 63.2 26.1 0.0 9.4 1.3 0.0 0.0 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for Charlotte Firefighters' RS, 2001-2019

Fiscal Year Charlotte Firefighters' RS Assumed return
2001 -5.34 7.75
2002 -4.16 7.75
2003 4.07 7.75
2004 18.11 7.75
2005 10.54 7.75
2006 10.83 7.75
2007 18.71 7.75
2008 -4.49 7.75
2009 -19.23 7.75
2010 10.90 7.75
2011 26.22 7.75
2012 1.14 7.75
2013 14.82 7.75
2014 18.73 7.75
2015 4.87 7.75
2016 1.05 7.50
2017 12.88 7.50
2018 9.73 7.50
2019 4.61 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Charlotte Firefighters' RS
2001-2019

Fiscal Year Cash Flow Assets
2001 -20.3 239.9
2002 -4.1 224.0
2003 -4.1 227.1
2004 -3.3 263.3
2005 -3.6 286.0
2006 -3.9 311.5
2007 -3.9 364.2
2008 -3.4 342.9
2009 -3.7 272.1
2010 -4.8 295.7
2011 -4.9 366.1
2012 -6.1 362.4
2013 -6.7 407.5
2014 -7.5 473.6
2015 -9.4 484.6
2016 -11.8 475.1
2017 -13.0 519.8
2018 -14.9 551.9
2019 -16.0 558.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Charlotte Firefighters' RS
2001-2019

Fiscal Year Charlotte Firefighters' RS National Average
2001 -8.5 -3.2
2002 -1.8 -3.0
2003 -1.8 -4.2
2004 -1.3 -3.1
2005 -1.3 -2.4
2006 -1.3 -1.8
2007 -1.1 -1.2
2008 -1.0 -0.8
2009 -1.4 -0.8
2010 -1.6 -1.1
2011 -1.3 -2.4
2012 -1.7 -1.1
2013 -1.7 -1.1
2014 -1.6 -3.3
2015 -1.9 -1.9
2016 -2.5 -1.7
2017 -2.5 -3.1
2018 -2.7 -2.4
2019 -2.9 -1.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports