Plan

Miami General and Sanitation Employees

State

Florida

Funded Ratio

73.5%

Assets

$876M

Members

4,134

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

FY2023 data Grade C Public Plans Database

Miami General and Sanitation Employees

Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Miami General and Sanitation Employees — 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 · Florida · General State Plan · Data through FY2023

Financial Health Grade

Underfunded — significant gap between assets and liabilities

Funded Ratio

73.5%

actuarial assets / liabilities

Unfunded Liability

$316M

actuarial shortfall

Total Members

4,134

active + retired + vested

1-Year Return

18.5%

net investment return

10.1pp vs 5-yr avg

5-Year Avg Return

8.3%

annualized, net of fees

ARC Payment

13.7%

of actuarially required contribution

How Miami General and Sanitation Employees Funded Ratio Compares

Plan Funded Ratio 73.5%

National avg

A ratio of 73.5% 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	73.5%	N/A	N/A	N/A
2023	73.5%	$876M	$316M	4,134
2022	76.9%	$782M	$235M	4,110
2021	79.3%	$933M	$244M	4,064
2020	77.6%	$774M	$223M	4,095
2019	81.8%	$734M	$163M	4,131
2018	83.4%	$705M	$140M	4,132
2017	82.7%	$668M	$140M	4,123
2016	81.9%	$618M	$137M	3,960
2015	80.6%	$589M	$142M	3,678
2014	80.9%	$620M	$146M	3,549
2013	77.1%	$590M	$176M	3,523
2012	75.3%	$566M	$185M	3,516
2011	78.6%	$518M	$141M	3,646
2010	81.8%	$554M	$123M	3,641
2009	84.0%	$538M	$102M	3,755
2008	88.0%	$576M	$79M	3,719
2007	88.3%	$694M	$92M	3,616
2006	79.6%	$624M	$160M	3,569
2005	79.2%	$587M	$154M	3,441

What the Data Says About Miami General and Sanitation Employees

Miami General and Sanitation Employees reports a funded ratio of 73.5% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $876M in market assets against an unfunded liability of $316M. As a General State plan operating under Florida sponsorship, it covers 4,134 members (1,875 active contributors, 1,967 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 13.7% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 8.3%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For Florida taxpayers and plan members, the $316M 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 Miami General and Sanitation Employees rely on the full faith and credit of Florida — 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

1,875

Active Members

1,967

Retirees

4,134

Total Members

Plan Details

Plan Type: General State
State: Florida
Market Assets: $876M
ARC Payment: 13.7%

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

Other Florida Plans

All Florida plans →

Related Resources

Pension Guides

Frequently Asked Questions

Is Miami General and Sanitation Employees fully funded?

Miami General and Sanitation Employees has a funded ratio of 73.5% 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 Miami General and Sanitation Employees runs out of money?

Public pension plans like Miami General and Sanitation Employees are backed by the sponsoring government entity — in this case Florida. 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 73.5% mean?

A funded ratio of 73.5% means that Miami General and Sanitation Employees currently has assets equal to 73.5% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $316M. This represents a moderate funding gap that requires ongoing monitoring.

How does Miami General and Sanitation Employees compare to other public pensions?

Miami General and Sanitation Employees is a General State plan in Florida serving 4,134 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Miami General and Sanitation Employees's funded ratio of 73.5% places it near the national average.

How many members does Miami General and Sanitation Employees have?

Miami General and Sanitation Employees covers 4,134 total members, including 1,875 active employees and 1,967 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 Miami General and Sanitation Employees?

Miami General and Sanitation Employees pays 13.7% 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