REQUIRED SUPPLEMENTARY INFORMATION

CITY OF CHICAGO, ILLINOIS

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS
Last Five Fiscal Years (dollars are in thousands)

Municipal Employees': 2019 2018 2017 2016 2015

Total pension liability
Service cost ................................................... $ 228,465 $ 223,528 $ 572,534 $ 619,743 $ 226,816
Interest .......................................................... 1,159,253 1,123,348 915,711 878,369 909,067
Benefit changes ............................................ - - - - 2,140,009
Differences between expected and
actual experience ..................................... 16,676 95,540 (177,755) (127,119) (109,835)
Assumption changes ..................................... - - (7,431,191) (578,920) 8,711,755
Benefit payments including refunds .............. (952,652) (916,198) (888,174) (859,672) (826,036)
Pension plan administrative expense ............ - - - - -
Net change in total pension liability .......... $ 451,742 $ 526,218 $ (7,008,875) $ (67,599) $ 11,051,776

Total pension liability - beginning ...................... 16,808,614 16,282,396 23,291,271 23,358,870 12,307,094
Total pension liability - ending (a) ..................... $ 17,260,356 $ 16,808,614 $ 16,282,396 $ 23,291,271 $ 23,358,870

Plan fiduciary net position

Contributions-employer ................................. $ 418,269 $ 349,574 $ 261,764 $ 149,718 $ 149,225
Contributions-employee ................................ 146,645 138,400 134,765 130,391 131,428
Net investment income .................................. 560,940 (204,975) 610,515 281,419 114,025
Benefit payments including refunds
of employee contribution .......................... (952,652) (916,198) (888,174) (859,672) (826,036)
Administrative expenses ............................... (6,740) (6,639) (6,473) (7,056) (6,701)
Other ............................................................. - - 5,394 - -
Net change in plan fiduciary net position ...... $ 166,462 $ (639,838) $ 117,791 $ (305,200) $ (438,059)

Plan fiduciary net position - beginning .............. 3,914,180 4,554,018 4,436,227 4,741,427 5,179,486
Plan fiduciary net position - ending (b) .............. $ 4,080,642 $ 3,914,180 $ 4,554,018 $ 4,436,227 $ 4,741,427

Net pension liability - ending (a)-(b) ......... $ 13,179,714 $ 12,894,434 $ 11,728,378 $ 18,855,044 $ 18,617,443

Plan fiduciary net position as a percentage

of the total pension liability .......................... 23.64 % 23.29 % 27.97 % 19.05 % 20.30 %

Covered payroll* ............................................... $ 1,802,790 $ 1,734,596 $ 1,686,533 $ 1,646,939 $ 1,643,481

Employer's net pension liability as a

percentage of covered payroll ..................... 731.07 % 743.37 % 695.41 % 1,144.85 % 1,132.81 %

*Covered payroll is the amount in force as of the actuarial valuation date and likely differs from actual payroll paid during fiscal year.

Note:
Beginning with fiscal year 2015, the City will accumulate ten years of data.

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