Chicago Municipal Employees Annuity Fund
public plan · City of Chicago · Springfield, IL
CRITICAL
F
Pension Health Score
28/100
Funding Status29% Funded
0%80% threshold100%
$5.5B
Total Assets
$18.9B
Total Liabilities
$13.4B
Unfunded Liability
64,857
Participants
Funding History
What This Means for You
Chicago Municipal Employees Annuity Fund is significantly underfunded at 29%, with $13.4B in unfunded liabilities affecting 64,857 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 | $5.5B | $18.9B | 29.3% | $379.2M |
| 2024 | $5.3B | $19.6B | 27.1% | $362.9M |
| 2023 | $5.3B | $21.1B | 25.1% | $356.4M |
| 2022 | $4.8B | $21.7B | 22.2% | $374.7M |
| 2021 | $4.6B | $15.1B | 30.6% | $272.0M |