Recently Enacted Changes to the Chicago Park District’s Pension Funding Schedule – Civic Federation

The new law is intended to put the fund on a path to 100% funding by 2057 instead of going insolvent by 2028.
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
The Paraclete
4 years ago

They have as much chance of success as sticking your elbow in your ear!

nixit
4 years ago

Will Tier 2 members be willing to contribute an extra 2% of their salary towards pensions in exchange for being able to retire two years earlier? Many are already 5-10 years in, so an extra 2% for the remainder of their service might be worth it. We’ll see. The third tier of benefits has higher employee contributions of 11% vs. 9% for Tier 1 and 2. However, members of the third tier are able to retire two years earlier with either full benefits (age 65) or reduced benefits (age 60). Members of Tier 2, who were hired between January 1,… Read more »

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE