Is Iowa Municipal Fire and Police fully funded?

Iowa Municipal Fire and Police has a source-reconciled actuarial funded ratio of 84.5% as of FY2024, earning a health grade of B. A funded ratio measures reported actuarial assets relative to reported accrued liabilities. It is useful context, but it cannot on its own predict future contributions, benefits, or public-policy decisions.

What happens if Iowa Municipal Fire and Police runs out of money?

Public plans are governed under state and local rules that differ by jurisdiction. The PPD figures shown here are financial data, not a finding about benefit security or taxpayer obligations.

What does a funded ratio of 84.5% mean?

A funded ratio of 84.5% means that Iowa Municipal Fire and Police reported actuarial assets equal to 84.5% of its accrued liabilities at that valuation date. The source-reported actuarial unfunded liability stands at $617M. This is considered adequately funded.

How does Iowa Municipal Fire and Police compare to other public pensions?

Iowa Municipal Fire and Police is a Police & Fire plan in Iowa serving 9,066 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Iowa Municipal Fire and Police's source-reconciled actuarial funded ratio of 84.5% places it above the national average, reflecting strong fiscal management.

How many members does Iowa Municipal Fire and Police have?

Iowa Municipal Fire and Police covers 9,066 total members, including 4,168 active employees and 4,433 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.

FY2024 source-reconciled actuarial data · Public Plans Database

Iowa Municipal Fire and Police

Everything the Public Plans Database tracks for Iowa Municipal Fire and Police: funded ratio, unfunded liability, membership, and 23 years of financial history, compiled by Boston College CRR and checked against actuarial valuations.

Browse all states → How we grade plans

By PlainPension · July 2026 · Iowa · Police & Fire Plan · Data through FY2024

Actuarial funded ratio: 84.5%
Health grade: BReported funded ratio above the portfolio average range
Actuarial assets: $3.36B
Members: 9,066

According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Iowa Municipal Fire and Police is one of 197 public pension plans tracked nationwide. The plan card reports source-reconciled actuarial figures through FY2024; the multi-year table includes only years whose reported ratio ties to its actuarial dollars. This site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.

Higher funded-ratio band

Iowa Municipal Fire and Police ranks #9 of 192 by source-reconciled actuarial funded ratio (84.5%), top-third among tracked public plans.

Iowa Municipal Fire and Police in the higher-funded third

According to the Public Plans Database, Iowa Municipal Fire and Police sits in the higher-funded third at 84.5% (grade B, #9 of 192) for FY2024, 9.0 points above the national public-pension average.

84.5%
Funded · #9 of 192: B
Health grade: $617M
Actuarial unfunded liability: -14.6pp
FY2001→FY2024

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Actuarial Unfunded Liability

$617M

Below-median unfunded liability · source-reported UAAL

Total Members

9,066

active + retired + vested

1-Year Return

6.8%

Near assumed rate · net investment return

-3.3pp vs 5-yr avg

5-Year Avg Return

10.0%

Strong return year · annualized, net of fees

C+

Composite Health Score

63/100

Iowa Municipal Fire and Police

Transparent derived index from public pension-plan filings, not an official rating. A 4-dimension composite (funded ratio, contribution discipline, 5-year investment return, unfunded burden), each scored against this dataset's own percentile distribution across 197 reporting plans. Not the same as the plan's headline funded-ratio grade above. See the exact dimensions, weights, and formula.

Funded Ratio B-

84.5%

Actuarial assets as a share of liabilities

Contribution Discipline F

100.0%

Share of the actuarially required contribution actually paid

Investment Returns A+

10.0%

5-year annualized investment return

Unfunded Burden B-

15.7%

Unfunded liability as a share of total obligations

How this score is calculated (benchmark table)

Dimension	P10	P25	P50	P75	P90	Weight
Funded ratio (higher = better)	57.6%	67.2%	75.0%	87.0%	97.6%	0.35
Contribution discipline (ARC) (higher = better)	88.4%	100.0%	100.0%	104.1%	122.1%	0.25
5yr investment return (higher = better)	6.4%	7.5%	8.3%	9.1%	9.9%	0.20
Unfunded burden (lower = better)	2.0%	12.7%	25.0%	33.1%	42.4%	0.20

Percentiles computed across all 197 plans in this database with a reported value for that metric (2026-09-09). A dimension a plan does not report drops out of its composite, and that weight redistributes across the dimensions it does report, so thin reporting never silently lowers a score relative to a fully-reported peer.

Participant Composition

Investment Policy Mix

What changed, FY2023 to FY2024

0.1 pts funded ratio

Iowa Municipal Fire and Police's funded ratio was effectively unchanged from FY2023 to FY2024, moving 0.1 points, with assets and accrued liability growing at a similar pace.

Funded ratio

84.6% → 84.5%

Actuarial assets

$3.22B → $3.36B (+4.4%)

Accrued liability

$3.80B → $3.97B (+4.5%)

Where the 0.1-point move came from

Assets: +3.7 pts
Accrued liability: -3.8 pts

Accrued liability is the source-reported value for benefits already promised. The two contributions are the move the ratio would have made on the prior year’s liability (assets) and the remainder (liability); they sum to the total by construction. Both years shown provide source-reconciled actuarial assets and liability, so neither figure rests on a ratio published on its own. Source: Public Plans Database (Boston College CRR / NASRA), loaded July 2026. See our funding-change board for how this plan’s move compares with the rest of the dataset.

Historical Actuarial Funding

Year	Actuarial Ratio	Assets	Liabilities	UAAL	Members	ARC	1yr return
2024	84.5%	$3.36B	$3.97B	$617M	N/A	100.0%	12.5%
2023	84.6%	$3.22B	$3.80B	$587M	9,066	100.0%	6.8%
2022	84.4%	$3.08B	$3.65B	$568M	8,961	100.0%	-1.6%
2021	82.9%	$2.92B	$3.52B	$600M	8,807	100.0%	25.5%
2020	79.9%	$2.71B	$3.39B	$680M	8,649	100.0%	6.8%
2019	81.0%	$2.65B	$3.27B	$620M	8,608	100.0%	3.0%
2018	82.0%	$2.58B	$3.15B	$566M	8,477	100.0%	9.6%
2017	81.4%	$2.46B	$3.02B	$562M	8,369	100.0%	12.2%
2016	81.4%	$2.33B	$2.87B	$534M	8,253	100.0%	5.3%
2015	80.8%	$2.24B	$2.77B	$530M	8,155	100.0%	0.5%
2014	77.8%	$2.05B	$2.64B	$586M	8,102	100.0%	14.7%
2013	73.9%	$1.86B	$2.52B	$657M	8,043	100.0%	10.1%
2012	73.7%	$1.84B	$2.49B	$655M	8,000	100.0%	8.2%
2011	78.2%	$1.87B	$2.39B	$521M	7,959	100.0%	12.6%
2010	81.1%	$1.86B	$2.30B	$434M	7,918	100.0%	6.7%
2009	85.6%	$1.90B	$2.22B	$319M	7,871	100.0%	-6.6%
2008	89.7%	$1.89B	$2.11B	$218M	7,812	100.0%	-4.6%
2007	87.2%	$1.75B	$2.01B	$258M	7,740	100.0%	13.9%
2006	89.0%	$1.53B	$1.72B	$189M	7,633	100.0%	8.8%
2005	85.4%	$1.37B	$1.60B	$233M	7,523	100.0%	12.7%

What the Data Says About Iowa Municipal Fire and Police

Iowa Municipal Fire and Police ranks among the better-funded plans in the database, 9 points above the 75.5% national average across tracked plans. A 5-year average investment return of 10.0% factors into the plan's overall trajectory.

For Iowa taxpayers and plan members, the $617M source-reported actuarial unfunded liability is the 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

4,168

Active Members

4,433

Retirees

9,066

Total Members

Plan Details

Plan Type: Police & Fire
State: Iowa
Market Assets: $3.31B

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

Plans With a Similar Funded Ratio

The closest plans nationwide to Iowa Municipal Fire and Police's 100.0% funded ratio.

Showing 5 of 191 plans nationwide with a reported funded ratio.

West Virginia Consolidated Public Retirement Board 100.1%
Baton Rouge City Parish Retirement System 99.5%
Oklahoma Police Pension and Retirement System 98.9%
Jacksonville General Employee Pension Plan 98.8%
Milwaukee City ERS 98.6%

Other Iowa Plans

Iowa Public Employees Retirement System 45.8%
Des Moines Water Works 26.3%

All Iowa plans →

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Cite this page

PlainPension, “Iowa Municipal Fire and Police: Funded Ratio, Assets, and Actuarial Data.” Compiled from the Public Plans Database (PPD), compiled by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA; data as of FY2023 plan card; history through FY2024. https://plainpension.com/plan/iowa-municipal-fire-and-police

Formal citation formats (APA / MLA)

APA: PlainPension. (2023). Iowa Municipal Fire and Police: Funded Ratio, Assets, and Actuarial Data. Retrieved September 23, 2026, from https://plainpension.com/plan/iowa-municipal-fire-and-police

MLA: "Iowa Municipal Fire and Police: Funded Ratio, Assets, and Actuarial Data." PlainPension, 2023, https://plainpension.com/plan/iowa-municipal-fire-and-police.

You are welcome to quote these figures with attribution to PlainPension and the underlying source. The URL above is stable. See our Terms of Use for what reuse is permitted.

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. Iowa Municipal Fire and Police ranks #9 of 192 by funded ratio and #144 of 190 by membership. This information is for informational purposes only and does not constitute professional advice, consult a qualified professional before acting on it. See our editorial standards & corrections policy, the typed corrections pathway, the methodology behind these numbers, or report a data error. Data current as of July 2026.

Compiled by PlainPension · July 23, 2026