Status of Local Pension Funding Fiscal Year 2004: An Evaluation of Ten Local Pension Funds in Cook County

This report provides a trend analysis of indicators that measure the financial health and performance of ten major local government pension funds from 1997 to 2004. It finds a combined $14.4 billion in unfunded liabilities for the ten funds, and makes recommendations on actions that should be taken to slow the downward spiral of pension underfunding.