Current Agenda
Pension News
Pensions Still Play a Major Role for Retirees, Even as Fewer Workers Have Access to Them
Less than 30% of today’s workers have a defined benefit pension, yet more than half of current retirees receive pension income. Among workers aged 18–24, only 5% have a pension, while the share rises with age until reaching 52% for workers age 65 or older. Public-sector workers are more likely to have pensions than private-sector workers, and the benefits they pay are typically much larger. Most retirees piece together income from multiple sources, and for those without a pension, personal savings will need to be higher. Read More
Milliman Provides Public Pension Funding Update
Milliman released the latest results of its monthly Public Pension Funding Index (PPFI). For June, Milliman’s PPFI constituents produced an estimated aggregate return of -0.1%, which when incorporated with the anticipated benefit accruals reduced the collective funded status by $30 billion, resulting in a funded ratio of 88.7% as of June 30, a -0.4% decline from 89.1% as of May 31. Read More
N.J.’s pension crisis isn’t about public workers — it’s about politicians who broke their promises | Opinion
New Jersey's problem is not that public workers have pensions. The problem is that for decades, governors and legislatures from both parties failed to fund the pensions they promised to public employees. Through it all, employees kept their side of the bargain. They paid every penny they owed while the state continually kicked the can down the road. The conservative Hoover Institution knows that, but in a recent NJ.com op-ed it would rather use the resulting crisis to attack public employees than hold politicians to account. Read More
Click here to read all the pension news clips for August 2026
Quick Facts
PLAN
The City of Fort Lauderdale is the sponsor of the Fort Lauderdale Police and Firefighters’ Retirement System. All Fort Lauderdale sworn police officers and firefighters are eligible to participate in the plan. A seven-member Board of Trustees, who are either elected by the employees or appointed, administer the pension plan. The plan is a defined benefit plan that promises to pay a guaranteed benefit at retirement.
MEMBERS
- 794 – Active members
- 1,353 – Retired members and beneficiaries
- 2,144 – TOTAL PLAN PARTICIPANTS
FUNDING Public safety officers contribute 10% of earnings into the pension plan. Members also pay 7.65% of earnings into Social Security and Medicare. Additional revenue to the pension plan comes from the State of Florida insurance premium tax, the City of Fort Lauderdale, and earnings generated on the invested assets. The plan’s investment returns provide 72% of the plan’s funding. Over the past 35 years, the plan had an average total return of 8.51%, with positive returns during 29 years.
BENEFITS Retirement benefits are based on (1) average final earnings, (2) years of service, and (3) a benefit formula. Public safety officers can retire after 20 years of creditable service (or after 10 years at age 55). Overtime and unused leave do not increase retirement benefits. After 20 years of service, public safety officers are eligible to receive a retirement benefit equaling 60% of their monthly earnings. Retirement benefits are not automatically adjusted annually for cost – of – living changes. Retirees have not received a COLA since 2001.
DISABILITY Service-related disability benefits provided by the plan cannot exceed 65% of current monthly earnings. Non-service benefits cannot exceed 50% of monthly earnings, with reductions for Social Security benefits, Workers Compensation, or other earned income. The Fort Lauderdale Police and Firefighters’ Retirement System was established by City Ordinance and became effective January 3, 1973. As of 9-30-2025, the pension fund assets totaled $1.3 billion.
For more information, see the Annual Report Newsletter