City Hall dubs Rauner ‘Gov. Gridlock’ for pension bill stance – Chicago Sun-Times

A bill to help salvage two city worker pension funds now heads to the governor, who has vowed not to sign it without pension reform. It provides for taxpayers and government employees putting more money into retirement systems that cover laborers and municipal workers. The Illinois House passed the bill in December. But Gov. Bruce Rauner won’t support the bill without pension reform. Comment: Good for Rauner, but the scary part here is that Sen. Radogno is apparently negotiating on behalf of GOP against Dem Cullerton. Radogno has never understood pensions. Cullerton does, and he’s a union tool. He will

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The ‘Pension Palace’ For Illinois Lawmakers 2016 – Forbes

Illinois lawmakers have one of the sweetest retirement deals on planet earth. It’s supposed to be a ‘part-time’ job in the general assembly, but now taxpayer funded legislator pension costs exceed most base salaries. Last year, taxpayers paid a whopping $71,818 per legislator ($15.8 million in FY2015) to fund their ‘golden parachute’ retirement plans.

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Downtown Chicago office vacancy rate drops again – Crain’s

Downtown office landlords continued to distance themselves from the depths of the recession at the end of 2016, with the vacancy rate dropping to its lowest level in nearly 16 years. Now those building owners will find out if the rally has legs in 2017, as they brace for the impact of several new towers under construction or recently completed.

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Chicago, New York in Worst Financial Shape Among Large US Cities – The Fiscal Times

“Chicago’s position at the bottom of the ranking is no surprise to anyone who follows municipal finance. The Windy City has become a poster child for financial mismanagement, having suffered a series of ratings downgrades in recent years. Aside from having thin reserves and large volumes of outstanding debt, Chicago is notorious for its underfunded pension plans.”

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