Unfunded Liability
$714M
actuarial shortfall
FY2023 data · Public Plans Database
Sioux Falls Fire
Funded ratio, unfunded liability, member counts, and 23-year financial history for Sioux Falls Fire, sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.
By PlainPension · · South Dakota · Police & Fire Plan · Data through FY2023
- Funded ratio
- 22.8%
- Health grade
- FLowest reported funded-ratio band in this dataset
- Market assets
- $211M
- Members
- 299
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Sioux Falls Fire is one of 197 public pension plans tracked nationwide; PlainPension's dataset was last refreshed in May 2026, see our methodology for the full source and update cadence.
Total Members
299
active + retired + vested
1-Year Return
14.5%
net investment return
3.7pp vs 5-yr avg
5-Year Avg Return
10.8%
annualized, net of fees
How Sioux Falls Fire Funded Ratio Compares
Plan Funded Ratio 22.8%
National avg
A ratio of 22.8% 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 | 24.4% |
| 2023 | 22.8% |
| 2022 | 20.8% |
| 2021 | 20.1% |
| 2020 | 19.4% |
| 2019 | 18.2% |
| 2018 | 18.4% |
| 2017 | 20.1% |
| 2016 | 21.3% |
| 2015 | 23.2% |
| 2014 | 22.8% |
| 2013 | 24.0% |
| 2012 | 24.7% |
| 2011 | 28.6% |
| 2010 | 32.8% |
| 2009 | 37.0% |
| 2008 | 40.3% |
| 2007 | 42.8% |
| 2006 | 41.0% |
| 2005 | 41.8% |
What the Data Says About Sioux Falls Fire
Sioux Falls Fire reports a funded ratio of 22.8% as of fiscal year 2023, earning a financial health grade of F in the Public Plans Database. The plan holds $211M in market assets against an unfunded liability of $714M. As a Police & Fire plan operating under South Dakota sponsorship, it covers 299 members (103 active contributors, 191 retirees drawing benefits).
Sioux Falls Fire reports assets covering only a small share of its projected obligations, 53 points below the 75.5% national average across tracked plans. A 5-year average investment return of 10.8% factors into the plan's overall trajectory.
For South Dakota taxpayers and plan members, the $714M 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
103
Active Members
191
Retirees
299
Total Members
Plan Details
- Plan Type
- Police & Fire
- State
- South Dakota
- Market Assets
- $211M
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Sioux Falls Fire's 22.8% funded ratio.
Other South Dakota Plans
- South Dakota Retirement System 78.1%
- Sioux Falls ERS 68.8%
Frequently Asked Questions
Is Sioux Falls Fire fully funded?
Sioux Falls Fire has a funded ratio of 22.8% as of FY2023, earning a health grade of F. A funded ratio compares actuarial assets with actuarial accrued liabilities at a reporting date. A value of 100% means those two reported values are equal; it does not forecast benefits, taxes, or investment performance.
What happens if Sioux Falls Fire runs out of money?
Sioux Falls Fire is a public plan in South Dakota. PlainPension reports the source data and does not determine a plan's legal protections, contribution policy, or future benefit decisions.
What does a funded ratio of 22.8% mean?
A funded ratio of 22.8% means that Sioux Falls Fire currently has assets equal to 22.8% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $714M. This level of underfunding typically requires corrective action such as increased contributions or benefit restructuring.
How does Sioux Falls Fire compare to other public pensions?
Sioux Falls Fire is a Police & Fire plan in South Dakota serving 299 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Sioux Falls Fire's funded ratio of 22.8% places it below the national average, indicating elevated fiscal pressure.
How many members does Sioux Falls Fire have?
Sioux Falls Fire covers 299 total members, including 103 active employees and 191 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.