Police-Fire Pension Reports
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.
Indian River Shores Police-Fire Defined Benefit Pension Information
GASB 67 & 68, Sustainability & Funding Annual Reporting
Requirement per Florida Statute 112.664
Annual Report on Investment Activity per
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