Press Detail

Absent pension reform, city faces $1 billion hole

Posted on August 01, 2013

The Chicago Tribune

This article covers the July 31 release of the City of Chicago’s annual financial analysis, which projects a $1 billion deficit in 2015 if the City’s pension funds aren’t stabilized by major reforms. The Civic Federation said it would be very difficult to cover such a large deficit without tax increases and severe cuts to city services.