From Skepticism to Savings: Suburban Pension Consolidation Helps Ease Burden for Illinois Taxpayers – WTTW (Chicago)
Four years into consolidated management, funding for fire pensions improved 11 percent to 67.13 percent, according to records from the Illinois Department of Insurance. Police pensions were more than 63 percent funded in aggregate, improving about 8 percent over a similar time period, records show.
Most of the proposed $16.6 billion 2026 budget is not controversial. The stalemate between Johnson and various factions of the City Council comes down to a few key issues, especially the proposed corporate head tax.
“Prevention, intervention, diversion and enforcement,” the head of the Federal Transit Authority, Marc Molinaro, said. “We want the city, we want the system and we want the state to take seriously this problem, develop an all of the above approach to drive down incidents of assault and provide for operator and rider safety. That’s what we’re seeking. We have every right to ask it.”
Still to be decided is whether Cook County government is on the hook to pay thousands of plaintiffs for the equity they lost.
“Is there a role for CPD? Of course. Is there a role for security to help support our riders? Absolutely. Are there other ways that we can also address the challenges CTA has, particularly around homelessness and mental health? Absolutely. It requires all of it,” Mayor Brandon Johnson said.