About the Fund
Q: How can I get information About the Fund?
A: If this website does not satisfy all of your questions, you may contact us by phone or in writing. Also, if you have a group of firefighters that would like to learn more about the Fund, we would be happy to come to your location and present the materials to your group while answering any questions that they may have.
Q: How many Georgia Firefighters’ Pension Fund participants are there?
A: This can be found in the Annual Report posted on our website.
Q: How many people are receiving GFPF retirement benefits?
A: Please refer to the Annual Report posted on our website.
Q: What is the monthly retirement benefit from the plan?
A: This may be found in the quarterly newsletter or on the website which is subject to change semiannually with a COLA.
Q: Who is eligible to participate in the Fund?
A: Any person who is employed full-time or part-time by a fire department and is certified or a candidate for certification by the Georgia Firefighter Standards and Training Council, or is enrolled as a volunteer firefighter with a volunteer fire department or combination fire department is eligible. See OCGA 47-7-1 for full definitions and further references for fire departments and firefighter certifications. There are not any waiting periods, windows for joining, age requirements or physical/medical limitations.
Q: How is the Georgia Firefighters’ Pension Fund funded?
A: GFPF is primarily funded by a 1% tax on premiums for fire insurance sold here in the State of Georgia. We also collect $15 in monthly dues from each active member of the Fund, which helps cover administrative costs.
Q: What types of investments are made by the Pension Fund?
A: The Fund's allowable investments are governed by OCGA 47-20-83 and OCGA 47-20-84, and consist mainly of publicly traded stocks and bonds.
Q: Who manages the Fund's assets?
A: Professional investment managers manage the assets of the Fund in accordance with investment guidelines established by the Board of Trustees.
Q: Who manages the Fund's day-to-day operations?
A: Day-to-day operations are undertaken and managed by the Executive Director and Staff of full-time employees. The Executive Director receives oversight and supervision from the Board of Trustees.
Q: Does GFPF adjust the benefit payment for inflation?
A: Very few defined benefit plans provide for the benefits to be adjusted each year to reflect the effects of inflation (called the Cost of Living Adjustment, or COLA). We, however, are one of the few plans that do adjust the benefit for COLA's when it is deemed prudent to do so.
Q: When are COLA's decided on?
A: The opportunity for a COLA is reviewed semiannually. The largest determinant is the actuarial soundness of the Fund. After reviewing a status report from the Fund’s actuary, a decision is made by the Board of Trustees, typically in May and November of each year. COLA’s are effective January 1 and July 1, when granted.
Q: How frequently does the Board of Trustees meet?
A: The Executive Director meets with the Board of Trustees once a month to conduct pension business and review operations.
Q: Who are the Board of Trustees?
A: Please see the Board of Trustees page.