FABF
Firemen’s Annuity and Benefit Fund of ChicagoCovers sworn members of the Chicago Fire Department. The lowest-funded of the four city funds.
Funded (FY2025)
25.2%
+1.6pp YoY
Market basis
Unfunded Liability
$6.00B
+$0.29B YoY
AAL minus market assets
Market Assets
$2.03B
AAL: $8.03B
Assumed Return
6.75%
Target: 90% by 2055
Assets vs liabilities
1997–2025
Total accrued liability ($8.0B in FY2025) shown as the shaded band. Market value of assets ($2.0B) as the solid line. The dashed line is the actuarial value, which smooths investment gains and losses over a few years.
Source: Public Plans Database
Funded ratio
Market basis (solid), actuarial basis (dashed)
Market-basis funded ratio uses the actual market value of assets on the balance sheet date. The actuarial basis uses a smoothed asset value that dampens short-term market swings. The dashed horizontal line is the statutory funding target.
Source: Public Plans Database