Press Detail

Chicago pension overhaul would boost tax revenue by $750 million

Posted on April 03, 2014

Crain's Chicago Business

This article discusses the City of Chicago’s plan to restore 90% funded levels to its Municipal and Laborers pension funds by 2054 through a combination of property tax increases, increased employee contributions and lower cost-of-living increases for retirees. The Civic Federation said the plan strikes a reasonable balance of shared sacrifice among taxpayers, employees and retirees to stabilize the City’s finances.