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Performance MeasureMeasure #100717089Value #103246065

FIRE AND POLICE RETIREMENT FUND STABILITY

Probability that the fund can sustain fire and police disability and retirement benefits over the next 20 years

A complete source packet for this Performance Portland measure: current value, official scale, history, narrative notes, context, and links.

1

Start with value

Use the latest official value and current trend as the first read.

2

Check why it matters

Established in 1948, the permanent Fire and Police Disability and Retirement (FPDR) levy was created to fund disability and retirement costs for fire and police personnel.

3

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Continue to the chart, official notes, topic links, source URLs, and full history table.

History

Official values

This chart uses the official actual values cached from ClearImpact. The latest point is highlighted; the table below preserves every raw row.

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Latest

98%

2024

First shown

96%

2014

Change shown

2%

Within visible history

0%25%50%75%100%201496%2016201820202022202498%X-axis: reporting period. Y-axis: official actual value on the ClearImpact scale.

Full source history

Every cached ClearImpact row for this measure.

PeriodActualTargetTrend
202498%—-1
202299%—0
202099%—0
201899%—1
201697%—1
201496%—0

Narrative Tabs

Official Performance Portland notes

Why Is This Important?

Established in 1948, the permanent Fire and Police Disability and Retirement (FPDR) levy was created to fund disability and retirement costs for fire and police personnel. The levy is currently capped at $2.80 per $1,000 of a property's real market value. The City is contractually obligated to pay for these costs, even if the levy can’t cover all the expenses.. Costs continue to rise due to inflation and the fact that the levy is currently funding pensions for two generations of public safety retirees at the same time. If the levy becomes insufficient to meet its obligations, the City would need to use other revenue sources to cover the disability and retirement costs, potentially reducing its ability to fund other essential services. To manage these risks, the City closely monitors the fund’s financial health.

What Do The Numbers Show?

The data shows that the financial outlook for the FPDR levy has remained stable over the past ten years. As of June 30, 2024, there has been a decrease in probability that the fund will meet its obligations over the next twenty years from 99% to 98%. This 98% forecast is the most statistically reliable prediction for the fund’s future over two decades. This is the only levy in the City that funds disability and retirement benefits, specifically for Fire and Police staff. Police and Fire staff hired before 2007 receive retirement benefits paid by the levy directly from FPDR, on a “pay-as-you-go” basis. Police and Fire staff hired in 2007 or later receive retirement benefits through Oregon's Public Employee Retirement System (PERS). The FPDR levy also pays for the City’s contributions to PERS for these employees; those contributions are made during an employee’s working years. All other City staff, regardless of when they were hired, also receive their retirement benefits through PERS, although other funding sources pay for PERS contributions made on their behalf. The annual tax to cover the cost of this fund is based on the estimated need for the next year. As Police and Fire employees hired before 2007 continue to retire, and new employees who require PERS contributions are hired to replace them, the levy will continue to increase. When all employees hired before 2007 are retired, the levy will begin to decrease, eventually leveling off when there are no more FPDR retirees and the levy is only paying for PERS contributions for the current public safety workforce.

How Did We Arrive at These Numbers?

Every two years, an independent financial consultant reviews the financial health of the FPDR levy and checks if the fund is likely to have enough money to cover all expected expenses for the next twenty years. The consultant’s report gives the probability that the FPDR levy will be able to fulfill its obligations. The probability can’t be 100% because there is always a chance something unexpected could happen, so a 99% forecast is the statistically best outcome for predicting the future of this fund over twenty years.

Where Can I Find More Information?

For more information on the FPDR levy including recent presentations and reports from the financial consultants, visit FPDR Budget & Reports .

FPDR Budget & Reports