Plan Data | Public Plans Data

Pittsburgh Fire Basics

Established 1933
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 2021 (Federal Reserve Flow of Funds, June 2023). 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, Pittsburgh Fire, 2002-2020

Fiscal Year	Net Assets (billions)
2002	0.11
2003	0.14
2004	0.15
2005	0.15
2006	0.14
2007	0.14
2008	0.09
2009	0.10
2010	0.19
2011	0.19
2012	0.20
2013	0.21
2014	0.22
2015	0.22
2016	0.23
2017	0.25
2018	0.24
2019	0.27
2020	0.31

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, 2002-2020

Fiscal Year	Pittsburgh Fire	US State and Local Pensions
2002	0.9	2.3
2003	0.8	2.2
2004	0.7	2.1
2005	0.6	2.1
2006	0.5	2.0
2007	0.5	2.0
2008	0.6	1.9
2009	0.5	1.9
2010	0.5	1.8
2011	0.5	1.7
2012	0.5	1.6
2013	0.5	1.5
2014	0.6	1.4
2015	0.6	1.4
2016	0.6	1.4
2017	0.6	1.4
2018	0.6	1.3
2019	null	1.3
2020	0.6	1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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2020 Membership for Pittsburgh Fire

Actives	Beneficiaries	Total Membership
670	1,079	1,749

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 Pittsburgh Fire, 2002-2020

Fiscal Year	Portion of Employer ARC paid	Portion of Employer ARC left unpaid	US Avg Employer ARC	ARC as a Percent of Payroll
2002	28.4	0.0	14.9	28.4
2003	17.8	0.0	19.3	17.8
2004	15.1	0.0	20.1	15.1
2005	17.4	0.0	24.8	17.4
2006	16.3	0.0	26.3	16.3
2007	18.4	0.0	27.8	18.4
2008	16.6	0.0	30.0	16.6
2009	29.1	0.0	32.9	29.1
2010	65.4	0.0	33.1	29.1
2011	40.8	0.0	35.0	29.1
2012	39.1	0.0	36.8	21.5
2013	34.5	0.0	37.5	26.5
2014	35.8	0.0	34.3	26.6
2015	null	null	34.4	null
2016	null	null	35.3	null
2017	null	null	34.0	null
2018	null	null	35.1	null
2019	null	null	36.7	null
2020	null	null	35.7	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 Pittsburgh Fire, 2002-2020

Fiscal Year	Pittsburgh Fire	National Data
2002	40.8	94.8
2003	50.0	89.0
2004	57.1	87.2
2005	54.0	85.4
2006	46.3	85.3
2007	48.0	86.3
2008	35.4	84.4
2009	36.6	78.4
2010	39.5	75.7
2011	36.3	74.3
2012	56.7	72.3
2013	59.1	71.9
2014	55.5	73.2
2015	54.9	73.2
2016	54.2	71.6
2017	56.0	72.1
2018	56.2	72.4
2019	53.6	72.5
2020	57.9	72.7

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 Pittsburgh Fire, 2020

Category	Percent
Equities	59.6
Fixed Income	17.7
Private Equity	2.4
Real Estate	6.7
Cash	4.4
Other	0.0
Commodities	0.0
Hedge Fund	9.2
Misc. Alternatives	0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2020

Category	Percent
Equities	46.4
Fixed Income	23.6
Private Equity	9.4
Real Estate	8.7
Cash	2.2
Other	0.1
Commodities	1.8
Hedge Fund	6.4
Misc. Alternatives	1.3

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 Pittsburgh Fire, 2002-2020

Fiscal Year	Equities	Fixed Income	Private Equity	Real Estate	Cash	Other	Commodities	Hedge Fund	Misc. Alternatives
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	63.8	21.9	2.7	0.0	3.2	0.0	0.0	8.4	0.0
2014	null	null	null	null	null	null	null	null	null
2015	53.8	19.4	3.4	9.8	3.7	0.0	0.0	9.9	0.0
2016	55.6	17.7	2.9	10.0	3.9	0.0	0.0	9.9	0.0
2017	58.0	16.7	2.5	9.4	2.6	0.0	0.0	10.8	0.0
2018	56.6	17.2	2.1	10.4	2.6	0.0	0.0	11.2	0.0
2019	59.1	18.6	2.1	8.9	1.6	0.0	0.0	9.7	0.0
2020	59.6	17.7	2.4	6.7	4.4	0.0	0.0	9.2	0.0

Source: Public Plans Database

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Annual Return as of December 31 for Pittsburgh Fire, 2002-2020

Fiscal Year	Pittsburgh Fire	Assumed return
2002	-12.09	8.75
2003	24.50	null
2004	11.10	8.75
2005	7.60	null
2006	12.10	8.75
2007	11.60	null
2008	-27.00	8.00
2009	23.30	null
2010	5.60	8.00
2011	-2.50	null
2012	14.10	7.50
2013	17.60	null
2014	6.48	7.50
2015	0.00	null
2016	8.40	7.25
2017	14.80	null
2018	-4.60	7.25
2019	19.50	null
2020	11.90	7.00

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

Pittsburgh Fire	PPD Sample
9.6	8.5

Annualized 10-Year Return

Pittsburgh Fire	PPD Sample
8.2	8.6

Cash Flows

Cash Flow vs. Total Assets (Millions)
Pittsburgh Fire
2002-2020

Fiscal Year	Cash Flow	Assets
2002	-5.8	114.5
2003	-5.0	136.4
2004	-4.6	146.0
2005	-9.0	145.0
2006	-16.6	142.8
2007	-16.7	140.6
2008	-16.4	91.0
2009	-7.5	99.1
2010	8.0	188.7
2011	-5.0	188.5
2012	-9.5	199.7
2013	-11.8	213.7
2014	-11.7	220.9
2015	-8.3	218.8
2016	-6.8	229.0
2017	-8.5	247.8
2018	-8.0	240.9
2019	-6.5	268.0
2020	0.0	311.2

Source: Public Plans Database

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2020 Cash Flows for Pittsburgh Fire (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
35.6	35.7	43.3	43.2

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
Pittsburgh Fire
2002-2020

Fiscal Year	Pittsburgh Fire	National Average
2002	-5.0	-2.6
2003	-3.6	-2.5
2004	-3.2	-2.6
2005	-6.2	-2.2
2006	-11.6	-2.2
2007	-11.8	-2.3
2008	-18.1	-2.9
2009	-7.6	-3.2
2010	4.2	-3.2
2011	-2.7	-3.4
2012	-4.8	-3.3
2013	-5.5	-3.1
2014	-5.3	-2.9
2015	-3.8	-3.1
2016	-3.0	-3.2
2017	-3.4	-2.9
2018	-3.3	-3.1
2019	-2.4	-3.1
2020	0.0	-2.8

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

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Plan Data: Pittsburgh Fire

Pittsburgh Fire Basics

Assets, Participants, and Benefits

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2020 Membership for Pittsburgh 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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2020 Cash Flows for Pittsburgh Fire (millions)

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2020 Financial Reports

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