Chicago Municipal Employees' Annuity & Benefit Fund returned a net 1.3% for the year ended June 30.
The $3.4 billion pension fund's net return fell short of its policy benchmark return of 2.1%, according to an investment report posted on the pension fund's website.
For the three, five and 10 years ended June 30, the pension fund returned an annualized net 4.1%, 5% and 7.8%, respectively, compared with their respective benchmarks of 5.2%, 5.6% and 7.7%.
The pension fund returned a net 3.5% for the year ended June 30, 2019.
The pension fund's fiscal year ends Dec. 31.