Chicago’s budget deficit threatened by pension bill that awaits Gov. JB Pritzker’s signature – WGNTV (Chicago)

“One thing to consider is the finances of the city of Chicago; how will they pay for it? Another thing to consider is these are our policemen, these are our first responders, and we want to make sure that they’re well taken care of,” Pritzker said.
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Felix
10 months ago

… And another thing to consider is that the city is broke. Hair on fire. Stop settling lawsuits and let a bankruptcy judge decide what bills to pay.

Deb
10 months ago

IL needs pension reform. But this will never happen since this is how Democrats buy votes.

PPF
10 months ago
Reply to  Deb

Yes, true legal pension reform. Dedicated actuarial payments that wouldn’t allow the state or cities to short pension payments.

Da Judge
10 months ago
Reply to  PPF

PPF,

No, pension reform that does not let Illinois public sector union Dem stooges steal from Illinois taxpayers!!

Da Judge

PPF
10 months ago
Reply to  Da Judge

That’s not reform. That’s just stealing from what others have already earned. The law doesn’t allow that.

Da Illinois Supreme Court and the US and Illinois Constitution.

Felix
10 months ago
Reply to  PPF

Under long-standing constitutional principles: 1) courts can’t force Legislature to appropriate money and 2) a current legislature can’t force future legislatures to continue funding at any particular level. Remedy is to sue for any missed payments. To sue Chicago, get in line behind victims of police abuse and transit workers and teachers striking for pay increases and immigrants seeking food, housing and water under United Nations human rights dictates. What jury in Chicago would award one month’s pension to a retired superintendent in his 50’s with his s.e.g. showing freshly implanted incisors? My advice to retired educators is to get… Read more »

PPF
10 months ago
Reply to  Felix

I agree that courts can’t force a particular level of funding. I have addressed this issue multiple times when people try to blame unions for “allowing” the state to short pensions. I’ve also brought it up to point out why unions will never negotiate for a smaller pension for guaranteed contributions. Such deals, like what was done in NJ, have no teeth to force funding at a certain level. What the courts do have the power to do is demand that the comptroller pay certain bills. FYI, it won’t be done by a jury but rather a judge or judges.… Read more »

Felix
10 months ago
Reply to  PPF

For me the issue is what happens when there’s a default. Who’s the defendant? How do thousands of claimants get sorted out? Class action with x cents on the dollar so the lawyers get their fee? New lawsuit when another default occurs a month later? Pay lawyers out of dwindling pension assets or union treasury? Instead: Probably a bankruptcy with vested actives joining in to claim a share from those already retired? Lawsuits against fiduciaries living and dead who did nothing? Before the lawyers get it all put everyone in a social security type bailout and wait for dozens more… Read more »

Felix
10 months ago
Reply to  PPF

If it’s a suit on a contract right I think the US Constitution guarantees jury trial. I’d welcome authority to the contrary. Pensions include trusts of course so “equity” jurisdiction could apply but if trust assets are gone I’m guessing the litigation will involve contract rights.

PPF
10 months ago
Reply to  Felix

It wouldn’t be a Jury trial Felix. It also wouldn’t be fought individually or on a monthly basis. The Illinois Court of Claims does not offer a jury trial. This would be a legal issue decided by judges. Think injunctive relief compelling payment. Before a pension fund ever ran dry you would see a lawsuit demanding payment. This would come from unions, members and possibly the fund itself. While the courts have said pensioners do not have a right to a certain level of funding they do have a right to be paid. If a pension fund ran so low… Read more »

Felix
10 months ago
Reply to  PPF

Underwood et al vs Chicago (2023) was filed in Cook County Circuit Court. The case involved pensions. Update your research. It’s not that easy to violate the US Constitution. 12 good citizens of Chicago will determine whether essential services should be curtailed to fatten pension millionaires.

Also, it appears that statute of limitations precludes going after funding that should have occurred > 5 years ago.

But the “victims” may be able to sue fiduciaries for negligence or imprudence or other torts. Then we can see how an elected union-funded judge rules.

Felix
10 months ago
Reply to  PPF

BTW, it’s much harder to buy a jury!

PPF
10 months ago
Reply to  Felix

It’s really hard when there isn’t a jury.

Felix
10 months ago
Reply to  PPF

… And much more expensive when it comes to deep pocket jurists.

Leaving Soon, just not soon enough
10 months ago

Raise taxes, it is how it is always done. If the taxpayer does not like it the only choice is to move to another state. Illinois has chased lots of people out of state so why should it change now?

Da Judge
10 months ago

Great quote from a tax cheat who removed toilet(s) from one of his mansions to lower his property taxes!!

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