Plan Data | Public Plans Data

New Orleans Firefighters Basics

Established
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, New Orleans Firefighters, 2001-2022

Fiscal Year	Net Assets (billions)
2001	0.32
2002	null
2003	0.30
2004	0.30
2005	null
2006	null
2007	null
2008	0.19
2009	null
2010	null
2011	0.17
2012	0.16
2013	0.10
2014	0.08
2015	0.07
2016	0.05
2017	0.05
2018	0.04
2019	0.05
2020	0.06
2021	0.06
2022	0.06

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, 2001-2022

Fiscal Year	New Orleans Firefighters	US State and Local Pensions
2001	null	2.4
2002	null	2.3
2003	null	2.2
2004	null	2.1
2005	null	2.1
2006	0.4	2.0
2007	0.4	2.0
2008	null	1.9
2009	null	1.9
2010	null	1.8
2011	0.5	1.7
2012	0.4	1.6
2013	0.4	1.5
2014	0.4	1.4
2015	0.4	1.4
2016	0.4	1.4
2017	0.4	1.4
2018	0.4	1.3
2019	0.4	1.3
2020	0.4	1.3
2021	0.4	1.2
2022	0.4	1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Membership for New Orleans Firefighters

Actives	Beneficiaries	Total Membership
532	1,237	1,769

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 New Orleans Firefighters, 2001-2022

Fiscal Year	Portion of Employer ARC paid	Portion of Employer ARC left unpaid	US Avg Employer ARC	ARC as a Percent of Payroll
2001	null	null	13.5	null
2002	null	null	14.9	null
2003	null	null	19.3	null
2004	null	0.0	20.1	null
2005	null	null	24.8	null
2006	null	null	26.3	null
2007	113.8	18.7	27.8	132.4
2008	130.5	2.8	30.0	133.3
2009	94.5	36.2	32.9	130.8
2010	113.1	57.2	33.1	170.3
2011	115.8	57.7	35.0	173.5
2012	119.8	64.4	36.8	184.2
2013	130.6	72.6	37.5	203.3
2014	140.2	63.7	34.3	203.9
2015	179.3	3.1	34.4	182.4
2016	163.5	23.6	35.3	187.1
2017	175.4	5.5	34.0	181.0
2018	181.2	0.0	35.1	175.5
2019	171.7	1.2	36.7	172.8
2020	152.8	0.0	35.7	152.2
2021	135.5	13.1	37.3	148.7
2022	124.8	30.5	37.4	155.3

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 New Orleans Firefighters, 2001-2022

Fiscal Year	New Orleans Firefighters	National Data
2001	null	101.7
2002	null	94.8
2003	null	89.0
2004	null	87.2
2005	null	85.4
2006	null	85.3
2007	52.8	86.3
2008	46.9	84.4
2009	37.2	78.4
2010	30.2	75.7
2011	29.0	74.3
2012	27.9	72.3
2013	24.4	71.9
2014	13.9	73.2
2015	11.2	73.2
2016	9.6	71.6
2017	8.8	72.1
2018	7.1	72.4
2019	9.0	72.5
2020	9.8	72.7
2021	10.6	76.2
2022	10.8	77.1

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 New Orleans Firefighters, 2022

Category	Percent
Equities	41.4
Fixed Income	38.1
Private Equity	11.8
Real Estate	0.0
Cash	0.0
Other	0.0
Commodities	0.0
Hedge Fund	8.7
Misc. Alternatives	0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2022

Category	Percent
Equities	42.7
Fixed Income	20.8
Private Equity	13.0
Real Estate	10.2
Cash	2.1
Other	0.6
Commodities	2.3
Hedge Fund	6.5
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 New Orleans Firefighters, 2001-2022

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	41.4	38.1	11.8	0.0	0.0	0.0	0.0	8.7	0.0

Source: Public Plans Database

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Annual Return as of December 31 for New Orleans Firefighters, 2001-2022

Fiscal Year	New Orleans Firefighters	Assumed return
2001	-4.15	null
2002	null	null
2003	15.84	7.50
2004	9.87	7.50
2005	null	7.50
2006	null	7.50
2007	null	7.50
2008	0.52	7.50
2009	null	7.50
2010	null	7.50
2011	5.97	7.50
2012	1.92	7.50
2013	-25.84	7.50
2014	-7.43	7.50
2015	-10.92	7.50
2016	-3.10	7.50
2017	-11.24	7.50
2018	-28.80	7.50
2019	31.90	7.50
2020	10.16	7.50
2021	6.28	null
2022	-12.68	7.50

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

New Orleans Firefighters	PPD Sample
6.4	8.3

Annualized 10-Year Return

New Orleans Firefighters	PPD Sample
-6.6	8.6

Cash Flows

Cash Flow vs. Total Assets (Millions)
New Orleans Firefighters
2001-2022

Fiscal Year	Cash Flow	Assets
2001	-22.3	320.0
2002	null	null
2003	-22.3	296.1
2004	-20.3	302.8
2005	null	null
2006	null	null
2007	null	null
2008	-103.5	190.6
2009	null	null
2010	null	null
2011	-11.0	173.3
2012	-16.4	160.1
2013	-18.7	102.5
2014	-21.0	77.9
2015	-8.9	65.3
2016	-12.1	51.5
2017	0.0	46.6
2018	2.4	36.4
2019	0.7	47.4
2020	5.4	57.3
2021	0.9	61.5
2022	8.9	64.1

Source: Public Plans Database

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2022 Cash Flows for New Orleans Firefighters (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
55.0	46.1	-6.3	2.6

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
New Orleans Firefighters
2011-2022

Fiscal Year	New Orleans Firefighters	National Average
2011	-6.4	-3.4
2012	-10.3	-3.3
2013	-18.2	-3.1
2014	-26.9	-2.9
2015	-13.6	-3.1
2016	-23.4	-3.2
2017	-0.1	-2.9
2018	6.5	-3.1
2019	1.4	-3.1
2020	9.5	-2.8
2021	1.5	-2.5
2022	13.9	-2.9

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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Plan Data: New Orleans Firefighters

New Orleans Firefighters Basics

Assets, Participants, and Benefits

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2022 Membership for New Orleans Firefighters

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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2022 Cash Flows for New Orleans Firefighters (millions)

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2022 Financial Reports

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