(last updated 3/1/2011)
The above chart tracks the combined balances of the City of Grand Rapids’ two pension systems (Police and General). The red line on the left axis tracks the total value of the pension funds and the right axis tracks the S&P 500 stock index.
I’ve also added a blue line tracking the hypothetical value of the combined pension systems if the city had simply invested in long-term US Government bonds.
As of 12/31/2010, the city’s pension fund balances are 14% below their peak of $766 million in September of 2007.
Please note that the chart is quarterly before 2009 as this is the time period in which the city has published its pension balances. After that date, they have been publishing them on a monthly basis.
For the source of this information, please visit the City of Grand Rapids Retirement Systems home page.
For more information on the imminent implosion of the city’s finances due to the unsustainable pension plans, see the following Grand Rapids Pundit posts: