Chicago Teachers Pension Fund
public plan · City of Chicago · Chicago, IL
Funding History
What This Means for You
Chicago Teachers Pension Fund is significantly underfunded at 38%, with $17.2B in unfunded liabilities affecting 73,248 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 | $10.4B | $27.6B | 37.6% | $595.1M |
| 2024 | $9.9B | $23.6B | 41.9% | $595.0M |
| 2023 | $9.6B | $22.8B | 42.1% | $744.2M |
| 2022 | $9.5B | $23.9B | 40.0% | $690.1M |
| 2021 | $8.5B | $25.4B | 33.6% | $587.5M |
Frequently Asked Questions
Chicago Teachers Pension Fund is 38% funded, meaning it has 38 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Chicago Teachers Pension Fund has 73,248 total participants, including 45,865 active employees and 27,383 retirees currently receiving benefits.
Chicago Teachers Pension Fund is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.