“For Chicago to get what it wants, Illinois must get what it needs,” the governor said.

“We don’t have the money to simply bail out Chicago. That’s not an option.”

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5 years ago

Taxpayers have no desire to bail out pensions in Illinois or Chicago. The 40 word pension sentence added to the Illinois State Constitution on December 15, 1970, resulted in legislative pension and retiree healthcare benefit hikes to underfunded pensions, and bigger salaries, not better funded pensions. “Membership in any pension or retirement system of the State, any unit of local government or school district, or any agency or instrumentality thereof, shall be an enforceable contractual relationship, the benefits of which shall not be diminished or impaired.” That sentence allowed an unlimited number of laws to be passed to hike pension… Read more »