Freeport Fire Pension Fund Overview

General Information

The Freeport Fire Pension Fund manages pension liabilities for firefighters in the City of Freeport, Illinois. It has historically dealt with underfunding, as evidenced by an unfunded actuarial accrued liability of $50.7 million prior to 2020. The fund has engaged in financial strategies, such as issuing Pension Obligation Bonds, to manage its liabilities and improve its funding ratio.