Chicago's unfunded pension liability leads US cities: S&P

Crain's Chicago Business reports:

Chicago’s primary pension funds have the largest unfunded liability and the second largest per capita liability among the nation’s largest cities.

The city’s $7.2 billion unfunded actuarial accrued liabilities landed Chicago at the top of list, well ahead of second place Philadelphia which has $3.7 billion in unfunded liabilities, according to a study released Friday by debt ratings firm Standard & Poor’s.

On a per capita basis, the unfunded liability for Chicago’s pension funds covering city, municipal, police, fire and labor workers is at $2,533, putting it just behind Boston’s leading amount of $3,715.

Eat your heart out Enron.