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  4. /Milan
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Showing latest fiscal year with year-over-year changes. Full pension history available with a paid plan. View plans →

Pension Funds — FY 2024i

Source

Combined Funded Ratioi

80.5%

Total Unfundedi

$3.6M

Annual Employer Costi

$1.1M

16 active / 14 retired across all fundsi

Funded Ratio Trendi

Employer Contributions Over Timei

IMRF — General Employeesi

IMRF covers non-public-safety employees (2026 rates). System-wide funded ratio: 95.8%(Well-Funded)

Employer Ratei

5.75%

Covered Payrolli

$28K

Employer Rate Breakdowni

Retirement Normal Costi5.0%
Death Benefiti0.1%
Disabilityi0.0%
Supplemental Benefiti0.6%
Total Employer Ratei5.8%
Member (Employee) Ratei4.5%

Amortization period: 17 years remainingi

Police Pension

MILAN POLICE PENSION FUND

Funded Ratioi

80.5%

Financial Position

Assets (Market)i$14.6M
Accrued Liabilityi$18.6M
Unfunded Liabilityi$3.6M

Annual Cash Flow

Employer Contributioni$1.1M
Employee Contributioni$564K
Investment Incomei$1.2M
Benefits Paidi$854K

Contribution Adequacy

Required: $401KActual: $1.1M+$670K

Investments

1-Year Returni+9.1%

Membershipi

16 active14 retired