Chicago Park District
Paying down the pension shortfall (budget payment minus normal cost)
Exact amount: $53,913,236.00
FY2026
LeftoverDerived: the budgeted payment minus the employer normal cost. Segal valuation 12/31/2025 ([private source] page 10): employer normal cost incl. admin $9,419,176; total normal cost incl. admin $28,131,361; ADC (board policy) $88,904,199; expected employer contribution $63,332,412. Remainder toward unfunded liability is derived. Split by who the Park Employees' fund pays (2025 benefit dollars by group). The first group alone is about 83 percent. Administrative costs ($1,976,961 in 2025) are not benefits and are left out of the shares.
The Park District sends one payment set by law to its pension fund, and the fund pays about 2,700 retirees.
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All items
| Box | Amount | % of this budget |
|---|---|---|
| Pensions for retired workers (2,125 retirees) · Our estimate | $44,574,897.30 | 82.7% |
| Pensions for surviving spouses (574 people) · Our estimate | $7,618,898.98 | 14.1% |
| Refunds to workers who left · Our estimate | $1,396,656.44 | 2.6% |
| Disability benefits · Our estimate | $210,245.27 | 0.4% |
| Death benefits · Our estimate | $111,182.87 | 0.2% |
| Benefits for children of workers who died (2 children) · Our estimate | $1,355.14 | <0.1% |
Sources
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