Chicago’s Pension Debt Continues to Rise, Increasing $1.1B in 2020: City Analysis – WTTW (Chicago)

Chief Financial Officer Jennie Huang Bennett said that growth was “fully anticipated” because the city is now required to contribute to its pension funds based on actuarial estimates. That requirement, which took full effect in 2020, has helped balloon the city’s structural deficit.
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P. T. Bombast
4 years ago

Cognitive dissonance: when we understand public employee expectations but can’t afford to meet them. Everyone expects to do everything because politicians have promised us it would or could happen. Retired public employees are going to get hurt because the money is going to run out. While unions are supposed to represent only active employees, the unions fight and help elect politicians who continue to make these promises. Rather than everybody including taxpayers and voters and retirees being hurt [as in a lawsuit where all parties are bleeding legal fees] why not sit down and settle this? Wouldn’t that be better… Read more »

Abe`s Ghost
4 years ago

Tell again where`s the casino

Alphabet Soup
4 years ago

looks like a tax hike on Chicago residents can’t be too far off…

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