Chicago Teachers Basics

  • Established 1895
  • Currently open to new hires
  • Plan covers teachers
  • Plan members not covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Chicago Teachers, 2001-2018

Fiscal Year Net Assets (billions)
2001 10.1
2002 9.3
2003 9.2
2004 10.2
2005 10.8
2006 11.4
2007 12.8
2008 11.4
2009 8.4
2010 8.9
2011 10.3
2012 9.4
2013 9.7
2014 10.8
2015 10.7
2016 10.1
2017 10.8
2018 11.1

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Chicago Teachers US State and Local Pensions
2001 2.2 2.7
2002 2.1 2.5
2003 2.0 2.5
2004 1.9 2.3
2005 1.8 2.2
2006 1.6 2.1
2007 1.4 2.1
2008 1.3 2.0
2009 1.3 2.0
2010 1.4 1.9
2011 1.2 1.8
2012 1.2 1.7
2013 1.1 1.7
2014 1.1 1.6
2015 1.1 1.6
2016 1.0 1.6
2017 1.0 1.5
2018 1.0 1.5

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Chicago Teachers, 2001-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 4.6 6.6 9.7 11.2 11.2
2002 4.4 5.8 9.9 10.2 10.2
2003 4.6 4.8 11.3 9.4 9.4
2004 4.4 7.1 13.8 11.5 11.5
2005 3.8 9.4 14.4 13.2 13.2
2006 6.1 10.8 14.4 16.9 16.9
2007 5.6 11.1 14.5 16.7 16.7
2008 8.6 6.6 14.0 15.2 15.2
2009 9.9 4.7 14.3 14.6 14.6
2010 13.8 3.1 17.1 16.9 16.9
2011 6.9 13.7 18.3 20.6 20.6
2012 6.2 16.7 20.3 22.9 22.9
2013 6.4 19.8 20.9 26.1 26.1
2014 26.2 6.0 20.1 32.2 32.2
2015 28.3 3.7 20.4 32.0 32.0
2016 27.8 5.0 20.2 32.9 32.9
2017 34.7 0.4 21.2 35.2 35.2
2018 37.0 3.4 22.9 40.4 40.4

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Chicago Teachers, 2001-2018

Fiscal Year Chicago Teachers National Data
2001 100.0 91.0
2002 96.3 82.6
2003 92.0 77.3
2004 85.8 78.4
2005 79.0 77.2
2006 78.0 78.0
2007 80.1 80.7
2008 79.4 78.7
2009 73.3 70.1
2010 66.9 66.7
2011 59.7 65.8
2012 53.9 63.3
2013 49.5 63.7
2014 51.5 64.7
2015 51.9 65.1
2016 52.4 63.1
2017 50.1 63.8
2018 47.9 63.6

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Chicago Teachers, 2018

Category Percent
Equities 60.1
Fixed Income 22.5
Private Equity 2.8
Real Estate 8.3
Cash 4.2
Other 0.0
Commodities 2.1
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.4
Fixed Income 21.8
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.1
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Chicago Teachers, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 58.6 28.4 0.9 7.5 4.6 0.0 0.0 0.0 0.0
2002 55.5 31.7 0.9 8.4 3.5 0.0 0.0 0.0 0.0
2003 56.0 30.5 1.2 7.9 4.4 0.0 0.0 0.0 0.0
2004 61.9 26.0 1.4 6.9 3.8 0.0 0.0 0.0 0.0
2005 62.1 24.9 1.8 7.6 3.6 0.0 0.0 0.0 0.0
2006 62.3 23.4 2.3 8.4 3.6 0.0 0.0 0.0 0.0
2007 65.2 20.8 2.4 8.2 3.4 0.0 0.0 0.0 0.0
2008 60.8 22.2 2.6 10.1 4.3 0.0 0.0 0.0 0.0
2009 55.3 24.5 2.8 8.7 5.7 0.0 3.0 0.0 0.0
2010 57.1 20.8 2.9 8.6 6.4 0.0 2.6 1.6 0.0
2011 61.0 17.3 3.1 9.5 4.8 0.0 2.6 1.7 0.0
2012 55.8 19.9 2.9 10.6 5.8 0.0 3.2 1.8 0.0
2013 60.0 17.3 2.8 10.7 5.5 0.0 3.4 0.3 0.0
2014 59.0 18.3 2.7 9.2 8.3 0.0 2.2 0.3 0.0
2015 60.4 19.6 3.1 11.0 3.6 0.0 2.0 0.3 0.0
2016 53.9 20.2 2.8 10.3 10.1 0.0 2.4 0.3 0.0
2017 62.8 19.9 2.8 8.6 3.5 0.0 2.4 0.0 0.0
2018 60.1 22.5 2.8 8.3 4.2 0.0 2.1 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for Chicago Teachers, 2001-2018

Fiscal Year Chicago Teachers Assumed return
2001 -1.47 8.00
2002 -3.28 8.00
2003 4.00 8.00
2004 15.00 8.00
2005 10.80 8.00
2006 10.70 8.00
2007 17.70 8.00
2008 -5.30 8.00
2009 -22.40 8.00
2010 13.40 8.00
2011 24.80 8.00
2012 0.60 8.00
2013 13.30 7.75
2014 18.40 7.75
2015 3.50 7.75
2016 0.50 7.75
2017 13.60 7.75
2018 9.00 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Chicago Teachers
2001-2018

Fiscal Year Cash Flow Assets
2001 -286.3 10,111.5
2002 -420.6 9,287.7
2003 -396.9 9,203.3
2004 -437.0 10,244.3
2005 -502.0 10,777.9
2006 -543.9 11,387.5
2007 -562.7 12,772.6
2008 -595.3 11,438.5
2009 -598.1 8,376.0
2010 -536.0 8,947.5
2011 -758.0 10,312.8
2012 -837.8 9,437.3
2013 -937.6 9,674.2
2014 -543.6 10,815.7
2015 -508.4 10,690.0
2016 -570.2 10,093.1
2017 -553.3 10,793.2
2018 -565.1 11,104.8

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Chicago Teachers
2001-2018

Fiscal Year Chicago Teachers National Average
2001 -2.8 -0.9
2002 -4.5 -1.5
2003 -4.3 -1.6
2004 -4.3 -0.5
2005 -4.7 -2.0
2006 -4.8 -2.1
2007 -4.4 -2.1
2008 -5.2 -1.9
2009 -7.1 -3.4
2010 -6.0 -3.3
2011 -7.4 -3.2
2012 -8.9 -3.8
2013 -9.7 -3.7
2014 -5.0 -3.4
2015 -4.8 -3.2
2016 -5.6 -3.4
2017 -5.1 -2.9
2018 -5.1 -2.8

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for Chicago Teachers benefit descriptions.