Fire & Police Employees Combined Combined Net
Description System System Systems Systems Change
FY 2023 FY 2023 Totals FY 2023 Totals FY 2022
Net Assets Restricted for Pension Benefits 2,045,836,887$ 1,683,312,950$ 3,729,149,837$ 3,453,264,676$ 7.99% Net increase (decrease) in Assets 154,759,691$ 121,125,470$ 275,885,161$ (368,342,860)$ Retirement Benefits Payments 77,661,978$ 76,024,703$ 153,686,681$ 143,024,275$ 7.45% Annualized Investment Returns:
One Year Performance 9.77% (7.18%)
Three Years Performance 10.05% 7.26%
Five Year Performance 7.42% 7.24%
Ten Year Performance 8.15% 8.53%
Twenty Year Performance 7.90% 7.63%
Twenty-Five Year Performance 6.96% 7.35%
Asset Allocation Targets:
Equities
Domestic Equities 24.00% 25.00%
International Equities 20.00% 23.00%
Private Equities 5.00% 3.00%
Total Equities 49.00% 51.00%
Rates/Credit
Core Fixed Income 13.00% 13.00%
High Yield Fixed Income 0.00% 3.00%
Private Debt/Credit 12.00% 10.00%
Total Rates/Credit 25.00% 26.00%
Real Assets
Core Real Estate 10.00% 10.00%
Non-Core Real Estate 5.00% 4.00%
Infrastructure 7.00% 5.00%
Total Real Assets 22.00% 19.00%
Multi-Asset
Alternative Credit 4.00% 0.00%
Midstream Energy 0.00% 4.00%
Total Multi-Assets 4.00% 4.00%
Short-Term Investments 0.00% 0.00%
Total Asset Allocation 100.00% 100.00%
Membership:
Active 1,203 2,694 3,897 3,571 9.13% Retired 1,187 2,226 3,413 3,321 2.77% Inactive Deferred Vested 62 213 275 260 5.77% Totals 2,452 5,133 7,585 7,152 6.05% Contributions
Member Contributions 12,053,687$ 14,894,336$ 26,948,023$ 26,465,836$ 1.82% City Contributions 27,067,935$ 22,236,117$ 49,304,052$ 49,572,112$ (0.54%) City/Member Normal Contribution rates: Member Member City City Fire and Police Tier 1 5.65% 29.80% 28.76%
Fire and Police Tier 2 9.00% 25.35% 25.27%
Fire and Police Blended City rate net 20.34% 22.56%
Employees System 8.12% 11.97% 13.35%
Actuarial Funding Status:
Actuarial Funding Staus (GASB 25) 116.7% 111.1%
Market Value Funding Status 117.3% 111.7%
Actuarial Assumptions:
Annual Inflation 2.50% 2.50% 2.75%
Annual Investment Assumption 6.75% 6.75% 7.00%
Financial Reporting (GAS 67)
Net Pension Liability % of Total Liability 109.7% 107.4%