Chicago Firefighters Pension Fund
public plan · City of Chicago · Rockford, IL
CRITICAL
D
Pension Health Score
38/100
Funding Status19% Funded
0%80% threshold100%
$1.6B
Total Assets
$8.3B
Total Liabilities
$6.7B
Unfunded Liability
14,043
Participants
Funding History
What This Means for You
Chicago Firefighters Pension Fund is significantly underfunded at 19%, with $6.7B in unfunded liabilities affecting 14,043 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. The PBGC has flagged this plan as critical status. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $1.6B | $8.3B | 19.3% | $95.7M |
| 2024 | $1.6B | $10.4B | 15.1% | $76.9M |
| 2023 | $1.5B | $8.5B | 17.8% | $79.3M |
| 2022 | $1.5B | $18.6B | 7.9% | $70.7M |
| 2021 | $1.3B | $12.7B | 10.6% | $88.4M |