Firefighters’ Pension Governance & Investment Policies
March 18, 2022
The New Orleans Firefighters’ Pension and Relief Fund (NOFFPF) provides retirement, disability, and survivor benefits for local firefighters. The entity had a prior history of poor investment performance, including consistently negative overall returns for several years and the use of alternative investments such as a local golf course, films, and hedge funds. In recent years, the NOFFPF showed signs of improved financial stability and governance. However, after years of poor performance, compounded by conflict between the NOFFPF and the City of New Orleans (City) over benefit obligations, the fund remained significantly underfunded compared to other public pension plans.