The City of Brooksville Firefighters' Retirement Trust Fund is in the process of terminating its defined benefit plan after the City Council voted to end the plan, and the Board must now determine how to distribute all remaining assets. Minutes from December 3, 2025 and the May 27, 2026 agenda show the Board directing the actuary (Foster & Foster) to calculate each member’s pension value and prepare impact statements, while external advisors (Hotaling Insurance Services/Life Brokerage) have provided a preliminary estimate of roughly $12.16M for fully transferring benefit obligations via individual annuities, alongside discussion of group terminal-funded pension transfer annuities with carriers such as Mutual of Omaha.Key decisions remain open around whether to use individual annuities, a group terminal-funded contract, a blended approach, or IRA rollover options, as well as which A‑rated carrier(s) to select once group quotes are obtained. The Board has also indicated that members should have a choice between annuity and lump sum, which increases the need for participant education, actuarial and legal structuring, and implementation support. This is a commercially relevant pre‑RFP stage for pension de‑risking, annuity placement, participant communications, and related advisory services, especially for firms that can support group annuity bidding, benefit calculations, and transition administration for a relatively small public safety plan.

Board consensus is to offer members a choice between annuity and lump sum; premium tax revenue will still flow to the plan through termination; some assets (e.g., real estate via ARA Core Property Fund) are being liquidated to raise cash for distributions.