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Pension Legislation Designed to Force Illinois to Pay for Chicago Pensions

WirePoints 30 November 2016 No Comment

Full text of the bill is linked here. Note pages 17-18 and 44-45. They provide for city contributions to the Municipal and Laborers’ pensions to more than double over the next five years and thereafter to a whatever-it-takes ARC-like amount. And if the city fails to make those contributions the pensions can force the Illinois Comptroller to deduct what’s due out of payments that flow from the state to the city. In other words, contributions will go up to whatever is necessary to pay the pensions and other city needs be damned.



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