“We would view any measure that would lower annual contributions into Chicago’s pension systems negatively. That’s a reference to talk that Lightfoot might seek to lower and move farther into the future the pension-payment ramp adopted at Emanuel’s request.

On the other hand, the New York firm said, “We would view measures that either trim liabilities through benefit reductions or a dedicated revenue stream toward pensions positively.” S&P didn’t get specific, but officials have talked at reviving what now appear to be moribund plans for a Chicago casino that could help pay pension debt or moving to reduce the

A pension actuary’s perspective.