Nearly one-third of Florida municipal pension plans grade out as a D or F for their funding ratio, according to a report card released by the public policy organization LeRoy Collins Institute.
“Report Card: Florida Municipal Pension Plans” grades 208 municipal defined benefit plans throughout Florida based on funding levels and costs. Plans that were more than 90% funded received an A; 80% to 90% funded, a B; 70% to 80%, a C; 60% to 70% a D; and below 60%, an F.
Of the 208 plans, 30 received an A, with the $11 million Plantation (Fla.) Volunteer Firefighters’ Retirement Plan leading the way with a funding ratio of 130.3%.
There were 31 plans with failing grades, with the $1.6 million Cooper City (Fla.) Municipal Pension Trust Fund with the lowest funding ratio, 35.5%.
The full report is available at Florida State University's website.
The LeRoy Collins Institute is a non-profit organization that studies private and public issues in Florida. It is affiliated with the State University System of Florida and is located at Florida State University.