Current Agenda
Pension News
The Cassidy-Kaine Proposal Does Virtually Nothing to Solve Social Security’s Financing Problems
The Cassidy-Kaine proposal: Over the next 10 years, the federal government would borrow $1.5 trillion to finance a new Social Security trust fund. This new fund would be invested in equities and other risky assets and allowed to grow untouched for the next 75 years. At the same time, the federal government would borrow an additional $25 trillion to cover Social Security’s annual shortfalls. At the end of the 75-year accumulation period, the trust fund would repay the Treasury the principal and interest on the original borrowed amount. Read More
ADA Web Accessibility Deadline Extended: What It Means for Public Pension Systems
The Department of Justice has officially extended the compliance deadline for the ADA Title II web and mobile accessibility rule by one year. For public entities serving populations of 50,000 or more, the new deadline is April 26, 2027, pushed back one year from the original April 24, 2026 date. Read More
Amid Inflation and Market Volatility, Public Pensions Show Long Term Strength, NCPERS Study Finds
NCPERS announced the release of its 2026 Public Retirement Systems Study, offering a data-driven snapshot of how public pension systems are navigating market volatility, elevated inflation, and new technologies — while continuing to deliver secure retirement benefits to millions of public servants. Amid continued market volatility and an extended period of elevated inflation, public pension systems are adjusting portfolio strategies to balance risk and return objectives. Read More
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 by the Mayor, administer the pension plan. The plan is a defined benefit plan that promises to pay a guaranteed benefit at retirement.
MEMBERS
- 792 – Active members
- 1,311 – Retired members and beneficiaries
- 2,103 – 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 82% of the plan’s funding. Over the past 34 years, the plan had an average total return of 8.45% with positive returns during 28 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 9-30-2024, the pension fund assets totaled $1.2 billion.
For more information, see the Annual Report Newsletter