Funded Ratio
33.5%
actuarial assets / liabilities
Plan
Chicago Laborers
State
Illinois
Funded Ratio
33.5%
Assets
$1.18B
Members
7,623
Health Grade: F — Critical — deeply underfunded, potential for benefit cuts
FY2023 data Grade F Public Plans Database
Chicago Laborers
Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for Chicago Laborers — sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.
F
Financial Health Grade
Critical — deeply underfunded, potential for benefit cuts
Unfunded Liability
$2.35B
actuarial shortfall
Total Members
7,623
active + retired + vested
1-Year Return
12.5%
net investment return
4.6pp vs 5-yr avg
5-Year Avg Return
7.9%
annualized, net of fees
ARC Payment
222.0%
of actuarially required contribution
How Chicago Laborers Funded Ratio Compares
Plan Funded Ratio 33.5%
National avg
A ratio of 33.5% compared against the national public-pension average of 73.5%.
Healthy Threshold
Plans above 80% are generally considered adequately funded by NASRA standards.
Participant Composition
The active-to-retiree ratio is a leading indicator of long-term plan sustainability — plans with more retirees than active contributors face mounting cash-flow pressure as benefit payments outpace incoming contributions.
Investment Policy Mix
Public pension plans report their asset allocation in Form 5500 Schedule H Part I disclosures. Equity-heavy mixes capture market upside but introduce volatility; fixed-income tilts protect funded status during downturns at the cost of long-run return.
Historical Funded Ratio
| Year | Funded Ratio |
|---|---|
| 2024 | N/A |
| 2023 | 33.5% |
| 2022 | 20.3% |
| 2021 | 14.3% |
| 2020 | 12.2% |
| 2019 | 11.3% |
| 2018 | 10.6% |
| 2017 | 9.6% |
| 2016 | 8.3% |
| 2015 | 7.9% |
| 2014 | 8.4% |
| 2013 | 7.3% |
| 2012 | 6.2% |
| 2011 | 5.8% |
| 2010 | 5.0% |
| 2009 | 5.7% |
| 2008 | 8.1% |
| 2007 | N/A |
| 2006 | 7.3% |
| 2005 | N/A |
What the Data Says About Chicago Laborers
Chicago Laborers reports a funded ratio of 33.5% as of fiscal year 2023, earning a financial health grade of F in the Public Plans Database. The plan holds $1.18B in market assets against an unfunded liability of $2.35B. As a General State plan operating under Illinois sponsorship, it covers 7,623 members (2,643 active contributors, 3,583 retirees drawing benefits). These figures aggregate from Form 5500 filings submitted to the Department of Labor and actuarial valuations reported through NASRA.
A funded ratio below 60% reflects significant underfunding relative to the national average of 72–75%, which typically triggers escalating employer contributions or legislative reform conversations. Employer contributions covered 222.0% of the Annual Required Contribution in the most recent reporting cycle, while the plan posted a 5-year average investment return of 7.9%. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.
For Illinois taxpayers and plan members, the $2.35B unfunded gap represents the actuarial shortfall that must eventually be closed through a combination of contributions, investment returns, or benefit modifications. Unlike private-sector pensions governed by ERISA and backstopped by the PBGC, public plans like Chicago Laborers rely on the full faith and credit of Illinois — meaning funding shortfalls flow through to state and local budgets rather than a federal insurance program. This information summarizes official Public Plans Database disclosures and is provided for research and educational purposes only. It is not financial, legal, or retirement-planning advice; active and retired members with specific benefit questions should consult their plan administrator directly.
Membership
2,643
Active Members
3,583
Retirees
7,623
Total Members
Plan Details
- Plan Type
- General State
- State
- Illinois
- Market Assets
- $1.18B
- ARC Payment
- 222.0%
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Other Illinois Plans
- Chicago Municipal Employees 101.2%
- Chicago Police 97.6%
- Illinois State Universities Retirement System 95.8%
- Illinois State Retirement Systems 93.3%
- Illinois Teachers Retirement System 85.4%
Related Resources
Frequently Asked Questions
Is Chicago Laborers fully funded?
Chicago Laborers has a funded ratio of 33.5% as of FY2023, earning a health grade of F. A funded ratio of 100% means the plan has enough assets to cover all projected liabilities. Ratios above 80% are generally considered adequately funded; ratios below 60% indicate significant underfunding and risk to future benefits.
What happens if Chicago Laborers runs out of money?
Public pension plans like Chicago Laborers are backed by the sponsoring government entity — in this case Illinois. If a plan's assets are insufficient, the state or local government is typically required to make up the difference through increased contributions, benefit adjustments, or tax measures. Unlike private pensions, public pensions are not insured by the PBGC, but they do carry the full faith and credit of the sponsoring government.
What does a funded ratio of 33.5% mean?
A funded ratio of 33.5% means that Chicago Laborers currently has assets equal to 33.5% of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at $2.35B. This level of underfunding typically requires corrective action such as increased contributions or benefit restructuring.
How does Chicago Laborers compare to other public pensions?
Chicago Laborers is a General State plan in Illinois serving 7,623 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. Chicago Laborers's funded ratio of 33.5% places it below the national average, indicating elevated fiscal pressure.
How many members does Chicago Laborers have?
Chicago Laborers covers 7,623 total members, including 2,643 active employees and 3,583 retirees currently receiving benefits. The ratio of active members to retirees is a key indicator of plan sustainability — when the number of retirees grows relative to active contributors, funding pressure increases.
What is the ARC payment percentage for Chicago Laborers?
Chicago Laborers pays 222.0% of its Annual Required Contribution (ARC). Meeting or exceeding 100% of ARC means the plan is fully contributing what actuaries recommend, which supports long-term funding stability. Employer contribution patterns are tracked annually in the Public Plans Database.
Related
Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by Kiznis Studio Editorial
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the Public Plans Database (PPD). Consult a qualified professional before making decisions based on this data.
Read our methodology — how this data is sourced, computed, and verified.
All federal data sources used on this page
- U.S. Census Bureau ACS — demographic + housing + income data. census.gov/programs-surveys/acs
- BLS Occupational Employment and Wage Statistics (OEWS) — wage + employment by occupation. bls.gov/oes
- BEA Regional Economic Accounts — GDP + personal income by state/metro. bea.gov/data/regional
- U.S. Census Bureau County Business Patterns — establishment + employment by industry. census.gov/cbp
- IRS Statistics of Income (SOI) — tax-return aggregate data. irs.gov/statistics
- data.gov — U.S. federal open-data portal — discovery layer for additional federal sources. data.gov