Plan

Atlanta Fire

State

Georgia

Funded Ratio

62.9%

Assets

$810M

Members

2,057

Health Grade: C — Underfunded — significant gap between assets and liabilities

FY2023 data Grade C Public Plans Database

Atlanta Fire

Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Atlanta Fire — sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.

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By Kiznis Studio Editorial · June 2026 · Georgia · Police & Fire Plan · Data through FY2023

Financial Health Grade

Underfunded — significant gap between assets and liabilities

Funded Ratio

62.9%

actuarial assets / liabilities

Unfunded Liability

$478M

actuarial shortfall

Total Members

2,057

active + retired + vested

1-Year Return

13.1%

net investment return

4.5pp vs 5-yr avg

5-Year Avg Return

8.6%

annualized, net of fees

ARC Payment

17.9%

of actuarially required contribution

How Atlanta Fire Funded Ratio Compares

Plan Funded Ratio 62.9%

National avg

A ratio of 62.9% compared against the national public-pension average of 73.5%.

Healthy Threshold

Plans above 80% are generally considered adequately funded by NASRA standards.

Participant Composition

The active-to-retiree ratio is a leading indicator of long-term plan sustainability — plans with more retirees than active contributors face mounting cash-flow pressure as benefit payments outpace incoming contributions.

Investment Policy Mix

Public pension plans report their asset allocation in Form 5500 Schedule H Part I disclosures. Equity-heavy mixes capture market upside but introduce volatility; fixed-income tilts protect funded status during downturns at the cost of long-run return.

Historical Funded Ratio

Year	Funded Ratio	Assets	Unfunded	Members
2024	62.9%	N/A	N/A	N/A
2023	58.8%	$810M	$567M	2,057
2022	58.8%	$770M	$539M	2,061
2021	59.6%	$929M	$630M	1,955
2020	58.8%	$716M	$501M	2,019
2019	58.8%	$727M	$510M	2,056
2018	61.2%	$718M	$455M	1,938
2017	61.6%	$670M	$417M	2,021
2016	62.0%	$613M	$375M	2,025
2015	65.3%	$645M	$343M	2,055
2014	65.3%	$659M	$349M	2,059
2013	67.0%	$561M	$276M	2,048
2012	68.2%	$506M	$236M	1,844
2011	74.8%	$510M	$171M	1,888
2010	79.2%	$415M	$109M	1,799
2009	80.9%	$367M	$87M	1,790
2008	84.6%	$418M	$76M	1,898
2007	94.0%	$436M	$28M	1,909
2006	106.5%	$372M	$-23M	1,860
2005	105.5%	$364M	$-19M	1,675

What the Data Says About Atlanta Fire

Atlanta Fire reports a funded ratio of 62.9% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $810M in market assets against an unfunded liability of $478M. As a Police & Fire plan operating under Georgia sponsorship, it covers 2,057 members (903 active contributors, 1,116 retirees drawing benefits). These figures aggregate from Form 5500 filings submitted to the Department of Labor and actuarial valuations reported through NASRA.

A funded ratio in the 60–80% range indicates moderate underfunding that falls near the national average of 72–75% but leaves the plan exposed to market downturns and demographic shifts. Employer contributions covered 17.9% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 8.6%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For Georgia taxpayers and plan members, the $478M unfunded gap represents the actuarial shortfall that must eventually be closed through a combination of contributions, investment returns, or benefit modifications. Unlike private-sector pensions governed by ERISA and backstopped by the PBGC, public plans like Atlanta Fire rely on the full faith and credit of Georgia — meaning funding shortfalls flow through to state and local budgets rather than a federal insurance program. This information summarizes official Public Plans Database disclosures and is provided for research and educational purposes only. It is not financial, legal, or retirement-planning advice; active and retired members with specific benefit questions should consult their plan administrator directly.

Membership

903

Active Members

1,116

Retirees

2,057

Total Members

Plan Details

Plan Type: Police & Fire
State: Georgia
Market Assets: $810M
ARC Payment: 17.9%

Source: Public Plans Database (PPD)
Boston College CRR / NASRA

Other Georgia Plans

Atlanta Police Fund 85.1%
Georgia Teachers Retirement System 78.5%
Atlanta General Employees Pension Fund 69.9%
Georgia Employees Retirement System 56.9%

All Georgia plans →

Related Resources

Pension Guides

Frequently Asked Questions

Is Atlanta Fire fully funded?

Atlanta Fire has a funded ratio of 62.9% as of FY2023, earning a health grade of C. A funded ratio of 100% means the plan has enough assets to cover all projected liabilities. Ratios above 80% are generally considered adequately funded; ratios below 60% indicate significant underfunding and risk to future benefits.

What happens if Atlanta Fire runs out of money?

Public pension plans like Atlanta Fire are backed by the sponsoring government entity — in this case Georgia. If a plan's assets are insufficient, the state or local government is typically required to make up the difference through increased contributions, benefit adjustments, or tax measures. Unlike private pensions, public pensions are not insured by the PBGC, but they do carry the full faith and credit of the sponsoring government.

What does a funded ratio of 62.9% mean?

A funded ratio of 62.9% means that Atlanta Fire currently has assets equal to 62.9% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $478M. This represents a moderate funding gap that requires ongoing monitoring.

How does Atlanta Fire compare to other public pensions?

Atlanta Fire is a Police & Fire plan in Georgia serving 2,057 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Atlanta Fire's funded ratio of 62.9% places it below the national average, indicating elevated fiscal pressure.

How many members does Atlanta Fire have?

Atlanta Fire covers 2,057 total members, including 903 active employees and 1,116 retirees currently receiving benefits. The ratio of active members to retirees is a key indicator of plan sustainability — when the number of retirees grows relative to active contributors, funding pressure increases.

What is the ARC payment percentage for Atlanta Fire?

Atlanta Fire pays 17.9% of its Annual Required Contribution (ARC). Consistently underpaying the ARC accelerates the growth of unfunded liabilities and places future benefits at greater risk. Employer contribution patterns are tracked annually in the Public Plans Database.

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Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by Kiznis Studio Editorial

Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the Public Plans Database (PPD). Consult a qualified professional before making decisions based on this data.

Read our methodology — how this data is sourced, computed, and verified.

All federal data sources used on this page

U.S. Census Bureau ACS — demographic + housing + income data. census.gov/programs-surveys/acs
BLS Occupational Employment and Wage Statistics (OEWS) — wage + employment by occupation. bls.gov/oes
BEA Regional Economic Accounts — GDP + personal income by state/metro. bea.gov/data/regional
U.S. Census Bureau County Business Patterns — establishment + employment by industry. census.gov/cbp
IRS Statistics of Income (SOI) — tax-return aggregate data. irs.gov/statistics
data.gov — U.S. federal open-data portal — discovery layer for additional federal sources. data.gov