Actuary reports show gradual funding improvement for Evanston police and fire pensions; city keeps 6.5% assumption for now

City actuarial reports presented to the Finance & Budget Committee showed modest year‑over‑year improvements in both Evanston pension plans but reaffirmed remaining long‑term liability and the need to maintain recommended contributions.

Heidi Andorfer, the actuary who presented the police and fire valuations, led the committee through the one‑page summaries that front‑load funded status, contribution requirements and plan experience. For the police fund, she reported an actual accrued liability and an unfunded accrued liability of roughly $130.6 million and a funded ratio of 59.5%. For the fire fund the funded ratio was 53.6% with an unfunded accrued liability of about $111.1 million. Andorfer said both funds benefited from favorable five‑year smoothed investment returns and from the city’s…