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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

93.9%

Total Unfundedi

$3.7M

Annual Employer Costi

$14.2M

44 active / 50 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

6.06%

Covered Payrolli

$363K

Employer Rate Breakdowni

Retirement Normal Costi4.5%
Funding Adjustmenti0.8%
Death Benefiti0.1%
Disabilityi0.0%
Supplemental Benefiti0.6%
Total Employer Ratei6.1%
Member (Employee) Ratei4.5%

Amortization period: 17 years remainingi

Police Pension

STERLING POLICE PENSION FUND

Funded Ratioi

97.1%

Financial Position

Assets (Market)i$30.9M
Accrued Liabilityi$31.8M
Unfunded Liabilityi$935K

Annual Cash Flow

Employer Contributioni$7.1M
Employee Contributioni$206K
Investment Incomei$2.6M
Benefits Paidi$1.7M

Contribution Adequacy

Required: $245KActual: $7.1M+$6.9M

Investments

1-Year Returni+9.5%

Membershipi

24 active24 retired

Fire Pension

STERLING FIREFIGHTERS PENSION FUND

Funded Ratioii

90.6%

Financial Position

Assets (Market)i$26.9M
Accrued Liabilityi$30.0M
Unfunded Liabilityi$2.8M

Annual Cash Flow

Employer Contributioni$7.0M
Employee Contributioni$149K
Investment Incomei$2.4M
Benefits Paidi$1.8M

Contribution Adequacy

Required: $186KActual: $7.0M+$6.9M

Investments

1-Year Returni+10.4%

Membershipi

20 active26 retired