CHICAGO — The funded ratios of 11 pension funds that cover Chicago, Cook County and statewide municipal workers in Illinois deteriorated in 2011 and collectively carry $37 billion of unfunded obligations, according to a new report.

The Commission on Government Forecasting and Accountability's "Report on the Financial Condition of the Chicago, Cook County, and Illinois Municipal Retirement Fund Systems" comes as state lawmakers are headed back to work this week to tackle pension reforms.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.