Omaha Fire & Rescue Pension Fund
public plan · City of Omaha · Omaha, NE
Funding History
What This Means for You
Omaha Fire & Rescue Pension Fund is significantly underfunded at 61%, with $406.7M in unfunded liabilities affecting 8,733 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 | $623.8M | $1.0B | 60.5% | $48.8M |
| 2024 | $623.1M | $1.2B | 54.1% | $35.7M |
| 2023 | $584.6M | $1.0B | 56.6% | $42.2M |
| 2022 | $549.5M | $850.7M | 64.6% | $51.7M |
| 2021 | $511.8M | $782.5M | 65.4% | $42.3M |
Frequently Asked Questions
Omaha Fire & Rescue Pension Fund is 61% funded, meaning it has 61 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Omaha Fire & Rescue Pension Fund has 8,733 total participants, including 4,131 active employees and 4,602 retirees currently receiving benefits.
Omaha 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.