Press Detail

Emanuel budget puts off day of reckoning on police, fire pensions

Posted on October 16, 2014

Chicago Tribune

This article reviews the FY2015 Budget Announcement from Chicago Mayor Rahm Emanuel. The spending plan is built on the assumption that the Illinois General Assembly will enact pension reform for the City’s police and fire pension funds before the City’s required annual pension contribution increases by $550 million in 2016. The Civic Federation said the City needs an alternate plan for addressing the underfunded pension systems.