Chicago Municipal Basics

  • Established 1921
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Chicago Municipal, 2001-2019

Fiscal Year Net Assets (billions)
2001 5.82
2002 5.13
2003 5.92
2004 6.24
2005 6.36
2006 6.84
2007 7.01
2008 4.74
2009 5.17
2010 5.44
2011 5.05
2012 5.18
2013 5.42
2014 5.18
2015 4.74
2016 4.44
2017 4.55
2018 3.91
2019 4.08

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2019

Fiscal Year Chicago Municipal US State and Local Pensions
2001 1.8 2.5
2002 1.8 2.4
2003 1.7 2.4
2004 1.5 2.3
2005 1.5 2.2
2006 1.5 2.1
2007 1.5 2.1
2008 1.4 2.1
2009 1.4 2.0
2010 1.3 1.9
2011 1.4 1.8
2012 1.3 1.7
2013 1.2 1.6
2014 1.2 1.5
2015 1.2 1.5
2016 1.2 1.4
2017 1.2 1.3
2018 1.2 1.3
2019 1.3 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Chicago Municipal, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 9.6 0.0 5.0 6.1
2002 9.5 0.0 4.8 6.7
2003 10.2 1.2 5.7 11.4
2004 11.8 3.4 7.3 15.2
2005 11.0 9.2 9.0 20.3
2006 10.6 11.4 9.3 22.1
2007 8.9 13.0 10.0 21.9
2008 9.5 13.8 10.4 23.3
2009 9.5 17.1 10.2 26.6
2010 10.0 21.4 10.5 31.4
2011 9.1 28.9 12.5 38.1
2012 9.3 34.1 12.9 43.4
2013 9.4 42.5 13.9 51.9
2014 9.3 43.0 14.5 52.3
2015 9.1 32.1 14.9 41.2
2016 9.1 49.3 14.8 58.4
2017 15.5 44.1 15.1 59.6
2018 20.2 40.4 18.1 60.5
2019 23.2 38.8 18.7 62.0

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Chicago Municipal, 2001-2019

Fiscal Year Chicago Municipal National Data
2001 93.3 106.5
2002 84.5 101.1
2003 79.9 94.2
2004 72.0 93.1
2005 68.5 91.1
2006 68.7 90.5
2007 69.1 91.2
2008 64.2 90.2
2009 58.1 83.2
2010 50.8 81.5
2011 45.2 80.4
2012 37.7 78.9
2013 37.0 78.7
2014 40.9 79.0
2015 32.9 78.2
2016 30.5 76.3
2017 27.4 76.4
2018 25.0 76.5
2019 23.3 76.3

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.

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Investments

Asset Allocation for Chicago Municipal, 2019

Category Percent
Equities 47.2
Fixed Income 23.2
Private Equity 3.9
Real Estate 0.0
Cash 4.1
Other 0.0
Commodities 10.6
Hedge Fund 11.1
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.0
Fixed Income 22.8
Private Equity 9.2
Real Estate 8.8
Cash 1.9
Other 0.0
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Chicago Municipal, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 59.0 33.0 2.0 2.0 4.0 0.0 0.0 0.0 0.0
2002 52.5 35.6 1.0 4.0 6.9 0.0 0.0 0.0 0.0
2003 62.0 32.0 1.0 4.0 1.0 0.0 0.0 0.0 0.0
2004 65.0 28.0 2.0 4.0 1.0 0.0 0.0 0.0 0.0
2005 59.0 28.0 3.0 4.0 5.0 0.0 0.0 0.0 0.0
2006 59.0 30.0 3.0 4.0 4.0 0.0 0.0 0.0 0.0
2007 59.0 29.0 3.0 4.0 5.0 0.0 0.0 0.0 0.0
2008 58.4 26.7 4.0 5.0 5.9 0.0 0.0 0.0 0.0
2009 50.0 23.0 4.0 7.0 7.0 0.0 0.0 9.0 0.0
2010 55.8 24.7 3.3 0.0 1.6 0.0 5.0 9.6 0.0
2011 49.1 26.6 4.4 0.0 1.8 0.0 8.2 9.9 0.0
2012 49.2 26.2 4.7 0.0 0.5 0.0 9.0 10.5 0.0
2013 48.8 24.9 4.9 0.0 0.3 0.0 9.4 11.7 0.0
2014 46.0 26.5 5.1 0.0 0.0 1.6 9.9 10.9 0.0
2015 45.2 25.9 5.3 0.0 0.0 2.0 11.4 10.2 0.0
2016 45.8 24.6 5.6 0.0 0.0 2.5 10.7 10.8 0.0
2017 49.0 23.0 4.0 0.0 4.0 0.0 10.0 10.0 0.0
2018 44.0 25.0 5.0 0.0 4.0 0.0 11.0 11.0 0.0
2019 47.2 23.2 3.9 0.0 4.1 0.0 10.6 11.1 0.0

Source: Public Plans Database

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Annual Return as of December 31 for Chicago Municipal, 2001-2019

Fiscal Year Chicago Municipal Assumed return
2001 -2.30 8.00
2002 -9.30 8.00
2003 19.90 8.00
2004 10.60 8.00
2005 6.90 8.00
2006 12.70 8.00
2007 7.30 8.00
2008 -28.20 8.00
2009 19.40 8.00
2010 14.20 8.00
2011 0.00 8.00
2012 12.90 8.00
2013 16.10 7.50
2014 5.10 7.50
2015 1.80 7.50
2016 6.30 7.50
2017 15.10 7.00
2018 -5.70 7.00
2019 16.60 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Chicago Municipal
2001-2019

Fiscal Year Cash Flow Assets
2001 -147.1 5,820.8
2002 -154.5 5,128.2
2003 -167.3 5,922.8
2004 -258.8 6,242.7
2005 -288.2 6,356.9
2006 -294.5 6,841.1
2007 -317.0 7,010.0
2008 -322.3 4,739.6
2009 -352.0 5,166.2
2010 -369.2 5,435.6
2011 -413.9 5,053.2
2012 -459.8 5,182.7
2013 -496.3 5,421.7
2014 -525.5 5,179.5
2015 -552.1 4,741.4
2016 -586.6 4,436.2
2017 -498.1 4,554.0
2018 -434.9 3,914.2
2019 -394.5 4,080.6

Source: Public Plans Database

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Cash Flow as a Percentage of Assets
Chicago Municipal
2001-2019

Fiscal Year Chicago Municipal National Average
2001 -2.5 -2.0
2002 -3.0 -2.7
2003 -2.8 -2.2
2004 -4.1 -1.6
2005 -4.5 -2.0
2006 -4.3 -1.9
2007 -4.5 -2.0
2008 -6.8 -3.0
2009 -6.8 -2.6
2010 -6.8 -2.4
2011 -8.2 -2.7
2012 -8.9 -2.6
2013 -9.2 -2.3
2014 -10.1 -2.3
2015 -11.6 -2.7
2016 -13.2 -2.2
2017 -10.9 -2.7
2018 -11.1 -3.0
2019 -9.7 -3.0

Source: Public Plans Database

National data averages are weighted by plan size.

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2019 Financial Reports

Benefits

Website for Chicago Municipal benefit descriptions.