1. Kissimmee_Fire_2025_Actuarial_Valuation

Fire Pension Board Meeting · 2026-05-05 · agenda_item

The City of Kissimmee Firefighters' Retirement Plan is undergoing its annual actuarial valuation as of October 1, 2025. This valuation assesses the plan's financial health and determines required contributions for the fiscal year ending September 30, 2027. The process involves reviewing personnel data, plan design, and asset information to measure liabilities and funding levels. This is an early stage in the planning process, as the valuation results will inform future contribution requirements and financial strategies. The work involves data analysis, financial modeling, and actuarial calculations. Local contractors, suppliers, and service providers in fields such as financial consulting, actuarial services, and data management could find opportunities by engaging with the plan administrators early. Understanding the plan's financial status now can help businesses prepare for potential future needs related to its management and funding.

Actuarial Valuation Date

October 1, 2025

Plan/Fiscal Year Ending

September 30, 2026

Total Actuarial Accrued Liability

81,236,998 $

Actuarial Value of Assets

63,211,258 $

Unfunded Actuarial Accrued Liability

18,025,740 $

Funded Ratio

77.81 %

Normal Cost

2,725,823 $

Administrative Expenses

92,674 $

Amortization Payment

2,852,984 $

Minimum Required Contribution

5,671,481 $

Number of Actives

119

Number of Service Retirees

70

Number of DROP Retirees

3

Number of Beneficiaries

5

Number of Disability Retirees

5

Number of Terminated Vested

33

Projected Annual Payroll

11,421,484 $

Investment return assumption

7.00 %