Chicago Sun-Times
This article discusses a proposal for the City of Chicago to issue $10 billion in pension obligations bonds, which is currently under consideration by the Mayor's Office. Bond proceeds would go toward the City's $28 billion unfunded pension liability, theoretically resulting in savings if the investment into the pension funds recieved a higher return than the interest paid on the bonds. Civic Federation Laurence Msall called the potential issuance an “enormous amount of borrowing” and said that the plan needs to be publicly vetted, considering the high level of risk.