Durham Fire & Rescue Pension Fund
public plan · City of Durham · Greensboro, NC
Funding History
What This Means for You
Durham Fire & Rescue Pension Fund is significantly underfunded at 58%, with $478.5M in unfunded liabilities affecting 2,554 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $649.5M | $1.1B | 57.6% | $48.9M |
| 2024 | $621.7M | $1.1B | 56.0% | $48.6M |
| 2023 | $608.3M | $1.0B | 60.6% | $41.3M |
| 2022 | $561.5M | $1.2B | 45.5% | $43.1M |
| 2021 | $564.2M | $962.8M | 58.6% | $47.8M |
Frequently Asked Questions
Durham Fire & Rescue Pension Fund is 58% funded, meaning it has 58 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Durham Fire & Rescue Pension Fund has 2,554 total participants, including 1,480 active employees and 1,074 retirees currently receiving benefits.
Durham Fire & Rescue Pension Fund is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.