Unfunded Liability
$25M
actuarial shortfall
FY2023 data · Public Plans Database
Charlotte Firefighters' Retirement System
Charlotte Firefighters' Retirement System's complete funding picture: assets, unfunded liability, member counts, and investment returns over a 23-year span, as reported to the Public Plans Database (Boston College CRR) and cross-referenced with actuarial valuations.
By PlainPension · · North Carolina · Police & Fire Plan · Data through FY2023
- Funded ratio
- 96.1%
- Health grade
- BReported funded ratio above the portfolio average range
- Market assets
- $604M
- Members
- 1,951
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Charlotte Firefighters' Retirement System is one of 197 public pension plans tracked nationwide. The plan card reports FY2023 valuation figures; the multi-year table includes FY2024 where PPD published it; this site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.
Total Members
1,951
active + retired + vested
1-Year Return
0.7%
net investment return
-8.7pp vs 5-yr avg
5-Year Avg Return
9.4%
annualized, net of fees
How Charlotte Firefighters' Retirement System Funded Ratio Compares
Plan Funded Ratio 96.1%
National avg
A ratio of 96.1% compared against the national public-pension average of 75.5%.
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 their annual CAFR and actuarial valuation. 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 |
|---|---|
| 2024 | N/A |
| 2023 | 96.1% |
| 2022 | 97.2% |
| 2021 | 95.3% |
| 2020 | 93.4% |
| 2019 | 95.1% |
| 2018 | 94.9% |
| 2017 | 95.4% |
| 2016 | 96.0% |
| 2015 | 95.1% |
| 2014 | 89.7% |
| 2013 | 82.6% |
| 2012 | 84.7% |
| 2011 | 88.7% |
| 2010 | 90.8% |
| 2009 | 84.6% |
| 2008 | 91.2% |
| 2007 | 89.6% |
| 2006 | 87.1% |
| 2005 | 88.1% |
What the Data Says About Charlotte Firefighters' Retirement System
Charlotte Firefighters' Retirement System reports a funded ratio of 96.1% as of fiscal year 2023, earning a financial health grade of B in the Public Plans Database. The plan holds $604M in market assets against an unfunded liability of $25M. As a Police & Fire plan operating under North Carolina sponsorship, it covers 1,951 members (1,086 active contributors, 849 retirees drawing benefits).
Charlotte Firefighters' Retirement System is one of the more fully funded plans in the Public Plans Database, 21 points above the 75.5% national average across tracked plans. A 5-year average investment return of 9.4% factors into the plan's overall trajectory.
For North Carolina taxpayers and plan members, the $25M unfunded gap is the actuarial shortfall this plan must close over time.
Where this data comes from + how funding gaps get resolved
These figures come from the Public Plans Database, a collaboration between the Boston College Center for Retirement Research and NASRA that compiles them from each plan's Comprehensive Annual Financial Reports (CAFRs) and actuarial valuations. The relationship between contribution adequacy and investment performance determines whether an unfunded liability narrows or expands year over year, and the gap itself is typically closed through some combination of higher contributions, investment returns, or benefit modifications. See our methodology for how public-pension funding differs from ERISA-backed private plans, and our disclaimer below before acting on this data.
Membership
1,086
Active Members
849
Retirees
1,951
Total Members
Plan Details
- Plan Type
- Police & Fire
- State
- North Carolina
- Market Assets
- $604M
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Charlotte Firefighters' Retirement System's 96.1% funded ratio.
Other North Carolina Plans
All North Carolina plans →Frequently Asked Questions
Is Charlotte Firefighters' Retirement System fully funded?
Charlotte Firefighters' Retirement System has a funded ratio of 96.1% as of FY2023, earning a health grade of B. At 100%, reported actuarial assets equal reported accrued liabilities. Plans use different assumptions and valuation methods, so ratios should be read alongside the underlying actuarial valuation.
What happens if Charlotte Firefighters' Retirement System runs out of money?
This profile is not a legal or retirement-benefit assessment. For a decision affecting Charlotte Firefighters' Retirement System, consult the plan administrator, governing documents, and a qualified professional.
What does a funded ratio of 96.1% mean?
A funded ratio of 96.1% means that Charlotte Firefighters' Retirement System currently has assets equal to 96.1% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $25M. This is considered adequately funded.
How does Charlotte Firefighters' Retirement System compare to other public pensions?
Charlotte Firefighters' Retirement System is a Police & Fire plan in North Carolina serving 1,951 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Charlotte Firefighters' Retirement System's funded ratio of 96.1% places it above the national average, reflecting strong fiscal management.
How many members does Charlotte Firefighters' Retirement System have?
Charlotte Firefighters' Retirement System covers 1,951 total members, including 1,086 active employees and 849 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.
Related
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 PlainPension
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.
Data sources used on this page
- Public Plans Database (PPD) - funded ratios, assets, liabilities, and member counts for US state and local public pension plans, maintained by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA. publicplansdata.org
- NASRA - National Association of State Retirement Administrators public-pension actuarial and policy references. nasra.org
Every figure on PlainPension is rendered directly from the Public Plans Database (Boston College Center for Retirement Research), no number is typed in by an editor. This page aggregates this plan's funded ratio, unfunded liability, and multi-year financial history, live from the dataset. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.