New York City Fire Department Pension Fund Subchapter 2

The New York Fire Department Pension Fund, Subchapter 2 (FIRE) was established pursuant to Local Law No. 53, enacted July 14, 1941. 

This Fund was established to provide qualified members and their beneficiaries with retirement, disability and death benefits, primarily based on salary and length of service.  The main financial objective of the Fund is therefore to ensure a level of funding through contributions and increased investment income that will support payment of these benefits.

Excerpted from:  New York Fire Department Pension Fund,   Comprehensive Annual Financial Report , June 30, 1998