Chicago police pension fund Unclaimed pension fund has about $9 billion unfundled as of December 31, according to a report by the Chicago Tribune.
Unclaimed pensions are funds that are not held by any government agency, and their value has increased over the past decade, from about $1 billion in 2003 to more than $3 billion in 2012.
In 2013, Chicago Police Pension Fund, a group that includes Chicago’s police, fire and other agencies, announced that it would be spending $1.5 billion on unfundable pension liabilities.
That was in addition to $7.7 billion already spent on unfilled pensions.
The city has since added $4 billion to the unfundeds.
In 2015, a federal judge approved the city’s request to end the unfiltered pension liability, which had been in place for nearly two decades.
This article was originally published by The Chicago Tribune and was republished with permission.