Philadelphia Municipal Retirement System
public plan · City of Philadelphia · Pittsburgh, PA
ACTIVE
D
Pension Health Score
38/100
Funding Status49% Funded
0%80% threshold100%
$5.0B
Total Assets
$10.3B
Total Liabilities
$5.2B
Unfunded Liability
64,812
Participants
Funding History
What This Means for You
Philadelphia Municipal Retirement System is significantly underfunded at 49%, with $5.2B in unfunded liabilities affecting 64,812 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. 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 | $5.0B | $10.3B | 48.8% | $245.3M |
| 2024 | $4.9B | $10.4B | 47.5% | $176.5M |
| 2023 | $4.8B | $10.1B | 47.1% | $195.0M |
| 2022 | $4.4B | $10.8B | 40.9% | $209.4M |
| 2021 | $4.2B | $7.8B | 53.6% | $229.3M |