New York City fire fund has enough assets to pay out 10.1 years of pension benefits, study finds

  • Source: The Center Square
  • Published: 05/28/2020 12:00 AM

The New York City Fire Department Pension Fund, with an assets-to-liabilities ratio of 63 percent, has enough money on hand to pay beneficiaries for 10.1 years, according to a new ranking of public retirement funds from the Wirepoints website. The retirement system ranked 32nd on a list of 148 state and local retirement funds nationwide with at least $2 billion in assets, the website reported. The list, which includes pension systems in every state except Vermont, lists pension funds from fiscally weakest to strongest. The New York City Fire Department Pension Fund has plan assets of $13.27 billion and yearly payouts to beneficiaries of $1.31 billion. The numbers are based on 2018 data, the most recent year for available data, according to Wirepoints, a website that focuses on economic commentary and Illinois government research.


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