Why Chicago’s pension reform could survive – Opinion – Chicago Tribune

Comment: This makes an important point that perhaps we had overlooked — that the proposal for Chicago would make the city directly liable for the pensions. That indeed would make them distinguishable, but it warrants a closer look at the “reform” elements of the bill. Changing the pensions from nonrecourse to recourse for the city is a massive give-away. More likely, this author has it wrong. In any event, this highlights an important issue: What, if any, entity is on the hook if pensions aren’t paid? The state is for its five pensions, but the answer is unclear for many

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