‘Whistling Past the Graveyard’: An Actuary Looks at the New Chicago Pension Bill – WP Original
By: Mark Glennon* Steven Bourg is an enrolled pension actuary from Maryland. He has been watching events in Illinois and emailing me recently. By sheer coincidence, we discovered that we grew up within a few blocks of each other in Park Forest, a Chicago suburb, at the same time, but we’ve never met. (Must be some virus in the water there that induces hostility to pension scams.) Anyway, he did a quick take on the rough numbers for the bill covering two Chicago pensions — police and fire — that passed the General Assembly this weekend. His view looks