In accordance with Florida Statutes, the following is hereby provided as it pertains to the Indian River Shores Police-Fire Defined Benefit Pension Plan.
Actuarial Summary Fact Sheets are found at this link for all 420 municipalities monitored by the Florida Department of Management Services, including the Town.
5-Yr Asset Allocation & Comparative Performance (aka 60T)
FYE 2015 Aggregate Fixed Income Factsheet FYE 2015 Disciplined Value Factsheet (net)
The performance of the accounts from inception, June 11, 2013 with Manning & Napier through January 31, 2016 are as follows:
Indian River Shores Firefighters & Police Officers Pension Fixed Income 2.2%
Indian River Shores Firefighters & Police Officers Pension Disciplined Value 6.54%
Fact sheets that show five year performance for each of the composites.
The asset allocation is 60% Equity and 40% Fixed Income.
While past performance cannot guarantee future results, an estimated long term return (30+ year) of 8%-10% for the equity portion and 2%-3% for the fixed income portion is reasonable.
John Mann III, CPA, Vice President/Client Consultant - Manning & Napier
Governmental Accounting Standards Board (GASB) Statement