Plan Data | Public Plans Data

Chicago Fire Basics

Established 1931
Currently open to new hires
Plan covers police and/or fire
Plan members not covered by Social Security
Single employer

Assets, Participants, and Benefits

State and local government pension benefits are paid from trust funds to which public employees and their employers contributed while they were working, not from general operating revenues. Trust fund assets are invested and grow over time. The combined value of defined benefit plan assets held by state and local governments as of Q2 2022 decreased to $5.3 trillion, from $5.7 trillion as of Q2 2021 (Federal Reserve Flow of Funds, June 2023). PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Assets at Year-End, Chicago Fire, 2001-2022

Fiscal Year	Net Assets (billions)
2001	1.10
2002	0.91
2003	1.11
2004	1.21
2005	1.27
2006	1.39
2007	1.47
2008	0.91
2009	1.05
2010	1.11
2011	0.99
2012	1.03
2013	1.12
2014	1.04
2015	1.05
2016	1.02
2017	1.13
2018	1.04
2019	1.15
2020	1.31
2021	1.47
2022	1.36

Source: Public Plans Database

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

State and local employees make up around 10-15 percent of the US workforce. About a quarter of public sector workers are covered by a public pension in lieu of Social Security, including nearly half of all teachers and over two-thirds of firefighters and public safety officers. Public employees live in every city and county in the nation; more than 90 percent retire in the same jurisdiction where they worked. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Number of Actives per Annuitant, 2001-2022

Fiscal Year	Chicago Fire	US State and Local Pensions
2001	1.1	2.4
2002	1.1	2.3
2003	1.1	2.2
2004	1.1	2.1
2005	1.1	2.1
2006	1.2	2.0
2007	1.1	2.0
2008	1.2	1.9
2009	1.2	1.9
2010	1.1	1.8
2011	1.1	1.7
2012	1.0	1.6
2013	1.0	1.5
2014	1.0	1.4
2015	1.0	1.4
2016	1.0	1.4
2017	0.9	1.4
2018	0.9	1.3
2019	0.9	1.3
2020	0.9	1.3
2021	0.9	1.2
2022	0.9	1.2

Source: Public Plans Database

National data averages are weighted by plan size.

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

2022 Membership for Chicago Fire

Actives	Beneficiaries	Total Membership
4,767	5,300	10,206

Source: Public Plans Database

Costs

The Annual Required Contribution (ARC) is the amount needed to finance benefits accrued each year, plus the cost to amortize unfunded liabilities from past years, minus required employee contributions. It is a projection that matches a yearly payment amount to a particular amortization period, taking into consideration an assortment of assumptions adopted by the plan. In practice, all plans do not calculate the ARC in the same manner. Assumptions used to calculate the ARC reflect actual plan experience, including investment return , actuarial cost, salary growth, total payroll growth and mortality, as well as an adopted amortization method. These assumptions and methods will differ from one plan another, so caution should be taken when comparing ARC between plans. PPD data covers the period from 2001 to the most recently available plan reports, and the historical charts presented in this page mirror the period for which PPD data are available.

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Chicago Fire, 2001-2022

Fiscal Year	Portion of Employer ARC paid	Portion of Employer ARC left unpaid	US Avg Employer ARC	ARC as a Percent of Payroll
2001	null	null	14.9	null
2002	null	null	13.9	null
2003	null	null	19.0	null
2004	null	null	21.7	null
2005	null	null	23.6	null
2006	null	null	24.9	null
2007	null	null	27.5	null
2008	null	null	28.0	null
2009	null	null	29.3	null
2010	null	null	31.3	null
2011	null	null	33.6	null
2012	null	null	34.1	null
2013	null	null	34.8	null
2014	null	null	34.7	null
2015	50.7	18.8	38.2	69.5
2016	32.2	37.6	37.9	69.8
2017	48.7	30.8	37.2	79.4
2018	54.6	35.6	36.8	90.2
2019	55.9	40.8	36.9	96.7
2020	73.6	19.6	37.6	93.2
2021	70.7	21.0	37.8	91.6
2022	76.0	21.1	38.5	97.0

Note: The employer's annual required contribution as a percent of payroll is calculated by dividing the dollar amount reported in the schedule of employer contributions by the covered payroll reported in the schedule of funding. The U.S. Average Employer data reflects the average for plans of similar type and social Security coverage to the plan.

Source: Public Plans Database

National data averages are weighted by plan size.

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

Actuarial Funding

While funded ratios among pension plans vary substantially, in the aggregate, public pension funding levels rose steadily during the 1990s, due largely to strong returns in global equity markets. Since then, sharp market downturns in 2000-02 and 2008-09 negatively affected asset values and increased unfunded pension liabilities and required contributions. A combination of the market downturns, insufficient contributions (for some plans), and increased benefit levels (also for some plans) resulted in a decline in aggregate funding level between 2001 and 2012, and has since remained relatively stable.

Actuarial Funded Ratio for Chicago Fire, 2001-2022

Fiscal Year	Chicago Fire	National Data
2001	60.2	101.7
2002	57.9	94.8
2003	47.4	89.0
2004	42.3	87.2
2005	41.8	85.4
2006	41.0	85.3
2007	42.8	86.3
2008	40.3	84.4
2009	37.0	78.4
2010	32.8	75.7
2011	28.6	74.3
2012	24.7	72.3
2013	24.0	71.9
2014	22.8	73.2
2015	23.2	73.2
2016	21.3	71.6
2017	20.1	72.1
2018	18.4	72.4
2019	18.2	72.5
2020	19.4	72.7
2021	20.1	76.2
2022	20.8	77.1

Source: Public Plans Database

National data averages are weighted by plan size.

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

Investments

The major asset allocation classes presented in the PPD are generated from the specific asset classes that plans report. For consistent reporting in the PPD, the individual asset classes reported by plans are categorized as one of eight major asset classes: equity, fixed income, real estate, private equity, hedge funds, commodities, misc. alternative assets, cash, and other. For more details on the PPD allocation data please see documentation.

Asset Allocation for Chicago Fire, 2022

Category	Percent
Equities	null
Fixed Income	null
Private Equity	null
Real Estate	null
Cash	null
Other	null
Commodities	null
Hedge Fund	null
Misc. Alternatives	null

Source: Public Plans Database

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

Asset Allocation for State and Local Pensions, 2022

Category	Percent
Equities	42.7
Fixed Income	20.8
Private Equity	13.0
Real Estate	10.2
Cash	2.1
Other	0.6
Commodities	2.3
Hedge Fund	6.5
Misc. Alternatives	1.8

Note: The most recent year of data contains virtually all the plans in the PPD.

Source: Public Plans Database

National data averages are weighted by plan size.

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

Asset allocation for Chicago Fire, 2001-2022

Fiscal Year	Equities	Fixed Income	Private Equity	Real Estate	Cash	Other	Commodities	Hedge Fund	Misc. Alternatives
2001	null	null	null	null	null	null	null	null	null
2002	74.7	24.8	0.0	0.0	0.2	0.0	0.0	0.0	0.3
2003	null	null	null	null	null	null	null	null	null
2004	null	null	null	null	null	null	null	null	null
2005	78.5	18.6	0.0	0.0	0.1	0.0	0.0	0.0	2.8
2006	null	null	null	null	null	null	null	null	null
2007	null	null	null	null	null	null	null	null	null
2008	null	null	null	null	null	null	null	null	null
2009	null	null	null	null	null	null	null	null	null
2010	69.0	24.6	0.0	0.0	0.0	0.0	0.0	0.0	6.4
2011	71.1	21.4	0.0	0.0	0.0	0.0	0.0	0.0	7.5
2012	null	null	null	null	null	null	null	null	null
2013	71.8	22.2	0.0	0.0	0.0	0.0	0.0	0.0	6.0
2014	69.7	24.3	0.0	0.0	0.0	0.0	0.0	0.0	6.0
2015	70.4	24.0	0.0	0.0	0.0	0.0	0.0	0.0	5.6
2016	65.9	28.9	0.0	0.0	0.0	0.0	0.0	0.0	5.2
2017	68.4	27.8	0.0	0.0	0.0	0.0	0.0	0.0	3.8
2018	67.0	25.2	0.0	0.0	0.0	0.0	0.0	0.0	7.8
2019	66.0	25.9	1.0	4.4	0.7	0.0	2.0	0.0	0.0
2020	60.4	23.8	1.2	8.1	0.9	0.0	1.8	0.0	3.8
2021	62.3	22.3	2.0	7.4	1.5	0.0	1.6	0.0	2.9
2022	null	null	null	null	null	null	null	null	null

Source: Public Plans Database

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

Annual Return as of December 31 for Chicago Fire, 2001-2022

Fiscal Year	Chicago Fire	Assumed return
2001	-6.11	8.00
2002	-13.60	8.00
2003	31.50	8.00
2004	14.80	8.00
2005	10.70	8.00
2006	15.50	8.00
2007	12.20	8.00
2008	-36.10	8.00
2009	27.80	8.00
2010	17.70	8.00
2011	-2.00	8.00
2012	16.20	8.00
2013	22.00	8.00
2014	3.90	8.00
2015	0.40	7.50
2016	8.00	7.50
2017	18.30	7.50
2018	-6.20	6.75
2019	21.00	6.75
2020	12.40	6.75
2021	14.90	6.75
2022	-14.20	6.75

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page. The FYE date for the majority of plans is either June 30th or December 31st. Those with FYE dates that do not fall on either of those two dates are compared with the June 30th plans. The PPD average return includes plans that report gross returns and returns net of fees.

Source: Public Plans Database

National data averages are weighted by plan size.

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

Annualized 5-Year Return

Chicago Fire	PPD Sample
4.7	8.3

Annualized 10-Year Return

Chicago Fire	PPD Sample
7.4	8.6

Cash Flows

Cash Flow vs. Total Assets (Millions)
Chicago Fire
2001-2022

Fiscal Year	Cash Flow	Assets
2001	-48.4	1,104.9
2002	-53.7	907.8
2003	-48.3	1,109.6
2004	-67.2	1,206.2
2005	-44.0	1,274.7
2006	-57.7	1,391.5
2007	-71.0	1,469.5
2008	-71.3	914.2
2009	-71.1	1,051.6
2010	-96.4	1,106.1
2011	-89.9	993.8
2012	-100.0	1,032.4
2013	-106.2	1,116.7
2014	-111.6	1,036.0
2015	1.5	1,045.1
2016	-87.0	1,019.0
2017	-33.5	1,126.2
2018	-32.4	1,035.8
2019	-47.6	1,149.8
2020	53.7	1,308.9
2021	28.0	1,466.4
2022	46.9	1,357.7

Source: Public Plans Database

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

2022 Cash Flows for Chicago Fire (millions)

Inflows	Outflows	Investment Gains (losses)	Change in Net Assets
452.2	405.4	-155.6	-108.7

Source: Public Plans Database

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Cash Flow as a Percentage of Assets
Chicago Fire
2001-2022

Fiscal Year	Chicago Fire	National Average
2001	-4.4	-2.2
2002	-5.9	-2.6
2003	-4.4	-2.5
2004	-5.6	-2.6
2005	-3.5	-2.2
2006	-4.1	-2.2
2007	-4.8	-2.3
2008	-7.8	-2.9
2009	-6.8	-3.2
2010	-8.7	-3.2
2011	-9.0	-3.4
2012	-9.7	-3.3
2013	-9.5	-3.1
2014	-10.8	-2.9
2015	0.1	-3.1
2016	-8.5	-3.2
2017	-3.0	-2.9
2018	-3.1	-3.1
2019	-4.1	-3.1
2020	4.1	-2.8
2021	1.9	-2.5
2022	3.5	-2.9

Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.

Source: Public Plans Database

National data averages are weighted by plan size.

Download chart data

Embed chart on your website

Copy this code into your HTML Editor, Blog Post or CMS.

2022 Financial Reports

Benefits

Website for Chicago Fire benefit descriptions.

Advanced Search

Plan Data: Chicago Fire

Chicago Fire Basics

Assets, Participants, and Benefits

Copy this code into your HTML Editor, Blog Post or CMS.

Copy this code into your HTML Editor, Blog Post or CMS.

2022 Membership for Chicago Fire

Costs

Copy this code into your HTML Editor, Blog Post or CMS.

Actuarial Funding

Copy this code into your HTML Editor, Blog Post or CMS.

Investments

Copy this code into your HTML Editor, Blog Post or CMS.

Copy this code into your HTML Editor, Blog Post or CMS.

Copy this code into your HTML Editor, Blog Post or CMS.

Copy this code into your HTML Editor, Blog Post or CMS.

Annualized 5-Year Return

Annualized 10-Year Return

Cash Flows

Copy this code into your HTML Editor, Blog Post or CMS.

2022 Cash Flows for Chicago Fire (millions)

Copy this code into your HTML Editor, Blog Post or CMS.

2022 Financial Reports

Benefits

Contact information (OPTIONAL)