Providence Fire & Rescue Pension Fund
public plan · City of Providence · Providence, RI
Funding History
What This Means for You
Providence Fire & Rescue Pension Fund is in good financial health at 65% funded. This means for every dollar the plan owes in future benefits, it has 65 cents in assets to cover it. As a public pension, benefits are typically backed by the taxing authority of the sponsoring government. Participants in this plan have relatively low risk of benefit reductions.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $875.8M | $1.3B | 65.4% | $38.9M |
| 2024 | $868.9M | $1.5B | 58.6% | $31.6M |
| 2023 | $834.4M | $1.3B | 65.4% | $37.4M |
| 2022 | $760.1M | $1.1B | 71.2% | $33.8M |
| 2021 | $736.5M | $1.3B | 56.8% | $41.6M |
Frequently Asked Questions
Providence Fire & Rescue Pension Fund is 65% funded, meaning it has 65 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Providence Fire & Rescue Pension Fund has 4,629 total participants, including 1,633 active employees and 2,996 retirees currently receiving benefits.
Providence 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.