PensionCheck Online | FPPA

The Official Blog of the Fire & Police Pension Association

by

On your marks, get set, go! FPPA was off to the races in 2024, a year of accomplishments, new heights, and teamwork at its finest. This year, we hit the ground running with a great win at the capitol and hit some solid splits throughout the year throughout the year, delivering useful enhancements to the Member Account Portal and a second round of One Time Lump Sum payments to retirees. But what we really did in 2024 was truly hit our stride in administering the Statewide Retirement Plan, now completed its second full year.

As you might expect in a state with a growing population, economy, and more than three dozen Olympic athletes in the 2024 Olympics, FPPA has kept pace: Investment returns remain strong, Plan contributions and retirement benefits paid were the most for a single year, and FPPA processed the second most retirements in our history.

That said, let’s take a look at some podium-worthy movements from the past 12 months at the Fire & Police Pension Association.

Member and Employer Contributions

Three firefighters sit on the front bumper of a fire truck. The firefighter on the left is smiling, while the one in the center has arms crossed and looks down, and the one on the right is leaning slightly forward. The background features a red fire truck with the word "Evergreen" is slightly visible. Overlaying the image, bold white text reads "MEMBER & EMPLOYER CONTRIBUTIONS." Below, a blue curved shape contains additional white text: "We received $404.1 million in payroll contributions to fund Plan benefits."

This year, the Employer Solutions team processed almost 7,500 payroll files, totaling $404.1 million in contributions into FPPA’s plans.

Benefits Paid

A senior couple walks hand-in-hand along a scenic path beside a turquoise lake, smiling at each other. Traditional wooden houses are visible in the background, surrounded by lush greenery. Below the image, a blue banner with bold white text reads "BENEFITS PAID." Additional white text underneath states, "We paid $299.1 million to 11,452 retirees."

We paid monthly retirement benefits to 11,452 retirees, totaling nearly $300 million. This included $4.8 million in One-Time Lump Sum payments to Statewide Retirement Plan payees.

Benefit Approvals

A scenic landscape of snow-capped mountains and lush green forests under a partly cloudy blue sky. Above the image, a blue banner with bold white text reads "BENEFITS APPROVALS." Additional white text underneath states, "We processed 361 Member retirements and disability benefits."

In 2024, the Benefit Administration team processed 287 Member retirements (second most all time) and 74 Death & Disability Plan benefits (third most all time). In the past decade, this team has processed 1,290 Member retirements.

State Funding Success

An image of the Colorado State Capitol building golden dome. Below the image, bold white text reads "STATE FUNDING SUCCESS." Additional white text says, "SWDD bill secures $2.05 million annually over 35 years to improve Plan funding."

This year, an FPPA-sponsored bill passed the legislature and was signed by the governor. The legislation secured $2.05 million per year over 35 years to fulfill the state’s obligation to fund a portion of the Statewide Death & Disability Plan.

Investment Performance

An investment performance graphic featuring four seedlings in increasing stages of grown in green containers, growing smallest to largest from left to right, illustrating investment growth over time. Bold white text at the top reads "INVESTMENT PERFORMANCE" Additional text underneath states "We achieved a 10.03% return in the Long-Term Pool."

FPPA’s long-term investment pool achieved a 10.03% annual return. This boosted the pool’s average return since 1980 to 9.19%.

RAP on MAP Goes Live

Two men engage in deep conversation in an inventory room. They are sitting at a conference table with various documents and a laptop spread in front of them. Bold white text underneath reads "RAP ON MAP GOES LIVE." Additional white text underneath reads, "We launched the online retirement application in September. 78 Members applied online (27%) between launch and December 31."

FPPA’s long-awaited online retirement application launched this fall. In between launch and the end of the year, 78 Members (27% of 2024’s benefit applications) applied for retirement using the new tool.

Stakeholder Connections

Iconography at the top of the image is a laptop with a cursor in the middle within a circle. Bold white text reads, "STAKEHOLDER CONNECTIONS." Additional white text states, "We spent 526 days on phone calls and Zoom meetings engaging with stakeholders."

Between Zoom meetings and phone calls, our staff spent 526 days (1.44 years) engaging with stakeholders in 2024.

FPPA on the Road

Image of Adams County Fire department building facade with an American flag waving out front. A firefighter stands outside the building. Bold white text reads, "FPPA ON THE ROAD." Additional white text states, "We traveled 29,000 miles across Colorado, visiting 98 police and fire departments."

FPPA’s Relationship Management team crisscrossed the state this year, logging 29,000 miles to visit our Members. This included stops at nearly 100 fire and police departments.

The Next Lap: What’s Coming in 2025

While continuing to keep pace and going for gold in the new year, our Members and other stakeholders have much to look forward to, including:

  • New 75% payment options in the Statewide Retirement Plan (already live!)
  • An updated corporate website
  • New tools available online, including the annual Verification of Eligibility process