Unfunded Liability
$13.53B
actuarial shortfall
FY2023 data · Public Plans Database
Chicago Public School Teachers Pension and Retirement Fund
Drawing on 23 years of Public Plans Database history (Boston College CRR), this page covers Chicago Public School Teachers Pension and Retirement Fund's funded ratio, unfunded liability, member counts, and investment returns, cross-checked against actuarial valuations.
By PlainPension · · Illinois · Teachers Plan · Data through FY2023
- Funded ratio
- 47.2%
- Health grade
- DLower reported funded ratio in this dataset
- Market assets
- $12.12B
- Members
- 66,245
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Chicago Public School Teachers Pension and Retirement Fund is one of 197 public pension plans tracked nationwide. The plan card reports FY2023 valuation figures; the multi-year table includes FY2024 where PPD published it; this site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.
Total Members
66,245
active + retired + vested
1-Year Return
9.1%
net investment return
0.3pp vs 5-yr avg
5-Year Avg Return
8.8%
annualized, net of fees
How Chicago Public School Teachers Pension and Retirement Fund Funded Ratio Compares
Plan Funded Ratio 47.2%
National avg
A ratio of 47.2% compared against the national public-pension average of 75.5%.
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 their annual CAFR and actuarial valuation. 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 | 48.1% |
| 2023 | 47.2% |
| 2022 | 46.8% |
| 2021 | 47.5% |
| 2020 | 46.7% |
| 2019 | 47.4% |
| 2018 | 47.9% |
| 2017 | 50.1% |
| 2016 | 52.4% |
| 2015 | 51.8% |
| 2014 | 51.5% |
| 2013 | 49.5% |
| 2012 | 53.9% |
| 2011 | 59.7% |
| 2010 | 66.9% |
| 2009 | 73.3% |
| 2008 | 79.4% |
| 2007 | 80.1% |
| 2006 | 78.0% |
| 2005 | 79.0% |
What the Data Says About Chicago Public School Teachers Pension and Retirement Fund
Chicago Public School Teachers Pension and Retirement Fund reports a funded ratio of 47.2% as of fiscal year 2023, earning a financial health grade of D in the Public Plans Database. The plan holds $12.12B in market assets against an unfunded liability of $13.53B. As a Teachers plan operating under Illinois sponsorship, it covers 66,245 members (31,824 active contributors, 27,474 retirees drawing benefits).
Chicago Public School Teachers Pension and Retirement Fund shows a moderate-to-serious funding gap, 28 points below the 75.5% national average across tracked plans. A 5-year average investment return of 8.8% factors into the plan's overall trajectory.
For Illinois taxpayers and plan members, the $13.53B unfunded gap is the actuarial shortfall this plan must close over time.
Where this data comes from + how funding gaps get resolved
These figures come from the Public Plans Database, a collaboration between the Boston College Center for Retirement Research and NASRA that compiles them from each plan's Comprehensive Annual Financial Reports (CAFRs) and actuarial valuations. The relationship between contribution adequacy and investment performance determines whether an unfunded liability narrows or expands year over year, and the gap itself is typically closed through some combination of higher contributions, investment returns, or benefit modifications. See our methodology for how public-pension funding differs from ERISA-backed private plans, and our disclaimer below before acting on this data.
Membership
31,824
Active Members
27,474
Retirees
66,245
Total Members
Plan Details
- Plan Type
- Teachers
- State
- Illinois
- Market Assets
- $12.12B
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Chicago Public School Teachers Pension and Retirement Fund's 47.2% funded ratio.
Other Illinois Plans
- Chicago Municipal Employees 97.3%
- Illinois State Retirement Systems 97.2%
- Illinois State Universities Retirement System 96.6%
- Chicago Police 92.5%
- Illinois Teachers Retirement System 83.7%
Frequently Asked Questions
Is Chicago Public School Teachers Pension and Retirement Fund fully funded?
Chicago Public School Teachers Pension and Retirement Fund has a funded ratio of 47.2% as of FY2023, earning a health grade of D. This ratio summarizes one reported funding measure. It does not substitute for a plan's actuarial valuation, financial statements, or a review of its contribution policy.
What happens if Chicago Public School Teachers Pension and Retirement Fund runs out of money?
Chicago Public School Teachers Pension and Retirement Fund's reported funding data can identify questions for further research. It does not establish how a sponsor will set contributions, benefits, or revenue policy.
What does a funded ratio of 47.2% mean?
A funded ratio of 47.2% means that Chicago Public School Teachers Pension and Retirement Fund currently has assets equal to 47.2% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $13.53B. This level of underfunding typically requires corrective action such as increased contributions or benefit restructuring.
How does Chicago Public School Teachers Pension and Retirement Fund compare to other public pensions?
Chicago Public School Teachers Pension and Retirement Fund is a Teachers plan in Illinois serving 66,245 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Chicago Public School Teachers Pension and Retirement Fund's funded ratio of 47.2% places it below the national average, indicating elevated fiscal pressure.
How many members does Chicago Public School Teachers Pension and Retirement Fund have?
Chicago Public School Teachers Pension and Retirement Fund covers 66,245 total members, including 31,824 active employees and 27,474 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.
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 PlainPension
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.
Data sources used on this page
- Public Plans Database (PPD) - funded ratios, assets, liabilities, and member counts for US state and local public pension plans, maintained by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA. publicplansdata.org
- NASRA - National Association of State Retirement Administrators public-pension actuarial and policy references. nasra.org
Every figure on PlainPension is rendered directly from the Public Plans Database (Boston College Center for Retirement Research), no number is typed in by an editor. This page aggregates this plan's funded ratio, unfunded liability, and multi-year financial history, live from the dataset. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.