The city’s pensions remain severely underfunded, and mandated payments continue to grow year over year. In 2023, the city will spend $2.6 billion in contributions to its four pension funds — a more than 500% increase in payment contributions from a decade ago. This year’s whopping payment includes an “advanced” pension payment, too, of $242 million. The advanced payment policy, which the city plans to continue in years to come, will save the city $2 billion in the long run, according to the mayor’s administration.