S&P leans on Lightfoot to find pension fix – Crain’s

“We would view any measure that would lower annual contributions into Chicago’s pension systems negatively.  That’s a reference to talk that Lightfoot might seek to lower and move farther into the future the pension-payment ramp adopted at Emanuel’s request.

On the other hand, the New York firm said, “We would view measures that either trim liabilities through benefit reductions or a dedicated revenue stream toward pensions positively.” S&P didn’t get specific, but officials have talked at reviving what now appear to be moribund plans for a Chicago casino that could help pay pension debt or moving to reduce the 3 percent annual compound COLA that about half of the city’s retirees now are scheduled to receive, perhaps by amending the Illinois Constitution.