City of Chicago
Advance payment: City pays more than State law requires
$72.2 million
Exact amount: $72,249,824.00
Calendar year 2026
Under the City's Pension Management Policy (2022) the City budgets extra payments on top of the State-law minimum so the shortfall does not grow. The valuation lists the extras actually paid and assumes no more in its projections.
This is money the City chooses to pay on top of what the law requires, so the fund has more savings and the shortfall grows more slowly, and it goes into the fund as one payment.
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