State Employees Retirement System of Illinois (SERS) vs Chicago Teachers Pension Fund
Side-by-side pension health comparison from DOL and public plan data
State Employees Retirement System of Illinois (SERS) (D) and Chicago Teachers Pension Fund (D) are close on the LakeQuality rubric. Funding ratios sit at 40% and 43% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Chicago Teachers Pension Fund has a stronger Pension Health Score of 44/100 (D) compared to State Employees Retirement System of Illinois (SERS) at 40/100 (D). Funding ratios differ by 2.4 percentage points (42.8% vs 40.4%). Chicago Teachers Pension Fund covers 69,000 participants.
| Metric | State Employees Retirement System of Illinois (SERS) | Chicago Teachers Pension Fund |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 40/100 (D) | 44/100 (D)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 40.4% | 42.8%* |
| Total Assets | $19.8B | $12.4B |
| Total Liabilities | $49.0B | $29.0B* |
| Unfunded Liability | $29.2B | $16.6B* |
| Participants | 152,000 | 69,000 |
| 1-Year Investment Return | 4.5% | 4.6%* |
| Plan Type | public | public |
| PBGC Risk Level | critical | critical |
| Sponsor | State of Illinois | City of Chicago |
Chicago Teachers Pension Fund has a stronger Pension Health Score of 44/100 (D) compared to State Employees Retirement System of Illinois (SERS) at 40/100 (D). Funding ratios differ by 2.4 percentage points (42.8% vs 40.4%). Chicago Teachers Pension Fund covers 69,000 participants.
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