The City of Fort Pierce's Retirement System remains financially and actuarially sound. The System's position results from regular contributions from members and the City of Fort Pierce and Fort Pierce Utilities Authority (FPUA), combined with better than average investment returns over the long term. With $183,206,017 million in net assets at September 30, 2016, the system remains well positioned to meet its obligations.
The system remains actuarially sound, with a funding ratio of the actuarial value of assets to actuarial accrued liabilities of 89% as of September 30, 2016. Current employer contribution levels from the city are consistent with funding guidelines provided in the City of Fort Pierce Code.
The diversification of investments, the funding policy and a long investment horizon positions the System to withstand difficult financial markets. We remain focused on limiting the System's risk to potential losses during volatile times. More details can be found in the Plan Summary document below.