Defined Benefit plans covering city employees in Detroit, Chicago, and Philadelphia are on schedule to go broke within this decade.
Using hard numbers from available valuation reports on 25 plans in 17 of the largest US cities and consistent with the methodology used in our study of state plans we conservatively calculate a funded ratio for these plans of 64.46% with 9.63% of assets being paid out annually.
Other Highlights:
Philadelphia is paying out over 20% of it’s money annually to retirees forcing contributions to rise near that level to put off projected bankruptcy until 2018.
Plans in El Paso, San Antonio, Dallas Police & Fire and, surprisingly, Washington, DC, are adequately funded, for now.
Chicago plans, across the board, will run out of money by 2019.
Links to Valuation Reports:
1….New York, New York
….. Employees
……Police
……Teachers
2….Los Angeles, California
….. Employees
3… Chicago, Illinois
……Teachers
4….Houston, Texas
….. Employees
……Police
9… Dallas. Texas
10. San Jose, California
11. Detroit, Michigan
13. San Francisco
15. Austin, Texas
……Fire
……Police
21. Baltimore, Maryland
22. El Paso, Texas
……Fire
……Police
24. Denver, Colorado
26. Milwaukee, Wisconsin
……Police
27. Washington, DC
36. Fresno, California
42. Miami, Florida
57. Cincinnati, Ohio
Burypensions Blog 
Posted by Joel L. Frank on August 16, 2012 at 2:55 pm
New York City teachers/retirees have collectively saved $12 billion in their fixed interest 403(b) accounts. The City borrows this money at an annual interest rate of 7.0 percent. The City could borrow money for one year at 0.5 percent.
Is this the way to run a candy store?
Posted by Michael Riley on December 12, 2016 at 5:36 pm
please review Providence RI http://www.golocalprov.com/politics/riley-lousy-pension-returns-put-one-more-nail-in-providence-coffin
Posted by Michael G Riley on June 25, 2017 at 4:17 pm
Given our 17 % funded ratio & phony assets Providence Rhode Island , the States Capital & most populous city deserves prominence on your list
Mgriley