Chicago-area pension funding gap jumps to $32 billion: report

Reuters

The Civic Federation’s Status of Local Pension Funding Fiscal Year 2011 report released May 21 found an aggregate unfunded liability of $32 billion in the ten Chicago-area public employee pension funds analyzed. The funds experienced sharp funding declines in the last decade to an average actuarial funding level of 50.8% in FY2011, down from 80.3% in FY2002.