MEABF

Municipal Employees’ Annuity and Benefit Fund of Chicago

Covers non-uniformed municipal employees of the City of Chicago. The largest of the four city funds by membership.

Overview Assets & liabilities Cashflow

Funded (FY2025)

28.2%

+2.8pp YoY

Market basis

Unfunded Liability

$14.77B

$-0.38B YoY

AAL minus market assets

Market Assets

$5.79B

AAL: $20.56B

Assumed Return

6.75%

Target: 90% by 2058

Assets vs liabilities

1997–2025

Total accrued liability ($20.6B in FY2025) shown as the shaded band. Market value of assets ($5.8B) 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