Harvey settlement complicated by prospect of changes to Illinois intercept law – The Bond Buyer

Concern that future changes to Illinois’ pension payment intercept law could interfere with a settlement remains a sticking point in negotiations among the city of Harvey, its public safety pension funds, and revenue bondholders.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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