Milwaukee Fire & Rescue Pension Fund
public plan · City of Milwaukee · Green Bay, WI
Funding History
What This Means for You
Milwaukee Fire & Rescue Pension Fund is significantly underfunded at 56%, with $581.0M in unfunded liabilities affecting 3,814 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 | $725.4M | $1.3B | 55.5% | $38.6M |
| 2024 | $695.9M | $1.3B | 52.4% | $46.3M |
| 2023 | $660.7M | $1.2B | 56.8% | $48.6M |
| 2022 | $664.7M | $1.3B | 52.4% | $42.0M |
| 2021 | $634.5M | $1.1B | 59.9% | $35.9M |
Frequently Asked Questions
Milwaukee Fire & Rescue Pension Fund is 56% funded, meaning it has 56 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Milwaukee Fire & Rescue Pension Fund has 3,814 total participants, including 2,257 active employees and 1,557 retirees currently receiving benefits.
Milwaukee 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.