Chicago’s 2020 budget proposal was never truly balanced
Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.
Fixing Illinois pension crisis by amending nation’s most-restrictive pension law is legal, effective
Illinois is home to one of the worst pension crises in the country.1 At 39% funded, according to the nonpartisan Pew Charitable Trusts, Illinois has the worst pension funding ratio of any state.2 By contrast, neighboring Wisconsin’s pension system is 103% funded.3 In fiscal year 2022, Illinois’ total general funds pension costs, including pension bond...
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