What is the city's annual contribution percentage to the FPPA plan for each firefighter?

What is the city's annual contribution percentage to the FPPA plan for each firefighter?

• A. 0.5%
• B. 1.25%
• C. 2.5%
• D. 3%

Answer: (B)

The city's annual contribution percentage to the Fire and Police Pension Association (FPPA) plan for each firefighter is 1.25%. This percentage represents the financial commitment made by the city towards the retirement benefits of its firefighters, ensuring that they have adequate support upon retirement. Understanding how this contribution integrates with the overall pension funding is crucial. The contribution not only helps in sustaining the pension fund but also supports the long-term benefits that firefighters rely on after their years of service. A lower contribution percentage would suggest a more limited financial commitment from the city, which could have adverse effects on the pension fund's health and the future retirement security of the firefighters.

The city's annual contribution percentage to the Fire and Police Pension Association (FPPA) plan for each firefighter is 1.25%. This percentage represents the financial commitment made by the city towards the retirement benefits of its firefighters, ensuring that they have adequate support upon retirement.

Understanding how this contribution integrates with the overall pension funding is crucial. The contribution not only helps in sustaining the pension fund but also supports the long-term benefits that firefighters rely on after their years of service. A lower contribution percentage would suggest a more limited financial commitment from the city, which could have adverse effects on the pension fund's health and the future retirement security of the firefighters.