Chicago’s Pension Debt Soared $1.7B in 2019: City Analysis – WTTW (Chicago)

In all, Chicago owes $31.79 billion to its four employee pension funds representing police officers, firefighters, municipal employees and laborers, according to the 2019 Certified Annual Financial Report. That is an increase of nearly 5.6% from 2018.
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Tom Paine's Ghost
3 years ago

The only solution is bankruptcy. The sooner the better.

Old Spartan
3 years ago

Members of those four unions better wake up and not continue to rely on politicians to adequately fund their benefits. Rich Daley screwed it up and left. Rahm made it worse and left. Lori will let it get worse and leave as well. The members and beneficiaries are the ones who are going to get stuck. If union management doesn’t step up and address the problem, who will? If they do nothing, it will be hard to feel sorry for all the little people who get hurt. The numbers are just too big to ever get paid.

Poor Taxpayer
3 years ago

Business are not reopening. Things are going to get UGLY real fast.
Leave Chicago and Illinois as fast as you can.
Anywhere is better, I mean anywhere.
Illinois “Land of Slavery”

Lyn P
3 years ago

And if LL does not get on the bandwagon of encouraging all Chi businesses, large and small, to open full-speed ahead, well, she’ll she may find herself with a new attitude toward the Feds. Won’t that be special.

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