Seattle Fire & Rescue Pension Fund
public plan · City of Seattle · Olympia, WA
ACTIVE
D
Pension Health Score
45/100
Funding Status53% Funded
0%80% threshold100%
$155.3M
Total Assets
$290.7M
Total Liabilities
$135.4M
Unfunded Liability
8,961
Participants
Funding History
What This Means for You
Seattle Fire & Rescue Pension Fund is significantly underfunded at 53%, with $135.4M in unfunded liabilities affecting 8,961 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 | $155.3M | $290.7M | 53.4% | $6.5M |
| 2024 | $155.2M | $286.8M | 54.1% | $9.2M |
| 2023 | $148.8M | $275.1M | 54.1% | $9.0M |
| 2022 | $137.7M | $335.1M | 41.1% | $8.5M |
| 2021 | $134.4M | $243.5M | 55.2% | $7.1M |