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Emanuel Reaches Deal With Police Union to Fix Pensions

Posted on February 20, 2013

Bloomberg

This article discusses a contract agreement reached between the City of Chicago and the Chicago Police Sergeants’ Association. The agreement increases employee pension contributions and the retirement age while reducing automatic annual benefit increases and calling for 90 percent funding of the City’s public safety pension funds by 2040. The Civic Federation’s Status of Local Pension Funding report found that the Chicago Police pension fund was only 40 percent funded in FY2010.