Busted: 45-year-old mortality data hid some pensions’ debt – WP Original

By: Mark Glennon*   If you were obligated to pay pensioners for their entire lives, would you estimate how much you would need using life expectancies from the 1960s for people born between 1914 and 1918?   Jean Lotus, a reporter at the Forest Park Review, just published a splendid article about a few Illinois municipalities recently doing just that. Outdated mortality tables are one way for governments to hide their pension problems from voters.   For more than a decade up to a couple years ago, according to the article, the actuary for Forest Park and some other cities,

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Why Moneythink’s Ted Gonder is Going Back to High School – Michigan Ave. Mag.

With his charitable start-up Moneythink, 24-year-old Ted Gonder aims to wipe out financial illiteracy in Chicago and beyond. Read more at http://michiganavemag.com/personalities/articles/what-founder-of-moneythink-ted-gonder-is-teaching-teens#9FhvpoqUGKztB1wz.99 http://michiganavemag.com/personalities/articles/what-founder-of-moneythink-ted-gonder-is-teaching-teens

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Judge to Allow Chicago Spire to Shop for Investors – WSJ

A bankruptcy judge signed off on a deal to allow the developer of the Chicago Spire to shop around for investors who might be willing to challenge one proposal to take the stalled project out of Chapter 11. http://online.wsj.com/articles/judge-to-allow-chicago-spire-to-shop-for-investors-1410368084

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It won’t be easy for City Council to get rid of inspector general – Early & Often

Getting rid of the City Council’s handpicked IG will not be as simple as lining up the 26 votes needed to shift the power to the city’s Inspector General Joe Ferguson. The ordinance that created the Legislative Inspector General clearly states that Faisal Khan can be removed before his four-year term expires in over a year “only for cause.” http://politics.suntimes.com/article/chicago/it-wont-be-easy-city-council-get-rid-inspector-general/tue-09092014-144pm

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City may borrow money to cover Chicago police back pay – Tribune

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