- Note that if I use the city’s December 31, 2021 figure instead of the CRR’s, the four funds had $10.96 billion in assets against $44.65 billion in liabilities for a 24.5% funded rate and $33.70 billion in net liabilities.
- The latest report shows the four funds at $11.12 billion in assets (up 1.5%) against $48.32 billion liabilities (up 8.2%) for a net 23.0% funded rate and the $37.2 billion unfunded pension liability you can see in the news.
Here’s how we got there....
2022 was really bad
From the city’s 2022 Annual Comprehensive Financial Report:
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