The City of Fort Lauderdale Police Officers’ & Firefighters’ Retirement Board exists to efficiently provide the highest quality of administrative services, within the applicable laws, professional and ethical standards, so that each member has the opportunity for a successful retirement.

General administration and responsibility for the operation of your pension plan is placed with a Board of Trustees. The Board keeps membership records, directs the investments of the Plan trust fund, and employs consultants and other professionals as necessary. The Pension Board consists of 8 persons, each serving for a period of 2 years. Four are members of the Plan elected by the active members, two are appointed by the Mayor with the approval of the City Commission and one is appointed by the members of the Board. The City Finance Director is a nonvoting, ex-officio member of the Board.

Fort Lauderdale currently has 491 police officers and 382 firefighters. These public safety officers provide services to nearly 200,000 citizens and over 10 million visitors annually; respond to over 260,000 emergency and non-emergency calls per year, and patrol 497 miles of city streets, 7 miles of beach frontage, and 25 miles of intracoastal waterways. They are the first responders to all emergencies in the city, including hurricanes. The Fort Lauderdale Police and Firefighters’ Retirement System was established by City Ordinance and became effective January 3, 1973.

Total Annualized Benefits Paid  as of 12/31/10  $35,797,791

Financial Highlights from 2010 Combined Financial Statements

·         System and Share Plan assets exceeded it’s  liabilities at the close of the years ended December, 31, 2010 and 2009 by approximately $470 million and $417 million (reported as net assets held in trust for pension benefits). Net assets are held in trust to meet future benefit payments.

·         Total return on investments for the System and Share Plan were 12.4% and 15% for the years ended December 31, 2010 and 2009.

·         The System’s and Share Plan’s funding objective is to meet long-term benefit obligations through contributions and investment income. As of January 1, 2010 and 2009 (dates of last actuarial valuations), the funded ratio was approximately 70% and 72%  respectively.

·         Additions to plan net assets for the years ended December 31, 2010 and 2009 were approximately $90 million and $86 million, respectively, and is comprised of contributions of $40.8 million and $34.1 million respectively, and net investment income of $49.4 million and net investment income of $51.5 million, respectively.

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