-
Mayor Lori Lightfoot says the city can manage through 2020 and will wait for the 2020 session to resurrect requests.
November 15 -
The state will pool the assets of 650 public safety pension funds outside Chicago into two new funds: one for police and one for firefighters.
November 14 -
The unfunded liabilities rose to $137 billion in fiscal 2019 from $134 billion, and the state will have to contribute $600 million more in fiscal 2021.
November 5 -
The Illinois city faces garnishment of state funds to make up for pension shortfalls, threatening its ability to deliver core services, Moody's said.
November 1 -
The Chicago Park District would phase in actuarially determined pension payments under a funding plan that still needs state legislative approval.
October 31 -
The ruling is credit negative but the district has a large budget and revenue-raising flexibility to absorb the liability, Moody's Investors Service says.
October 31 -
Illinois lawmakers wrapped up the first half of their annual fall veto session leaving tough legislation for the second half, beginning Nov. 12.
October 30 -
Though the market may view Chicago's budget as heading in the right direction, relying on the state is a gamble that's a concern for aldermen, too.
October 29 -
Optimistic investment assumptions are the primary cause of public-sector pension plan underfunding, according to a report by Hilltop Securities.
October 29 -
The proposed settlement, filed in federal district court in New York late last week, would bring to a close the SEC’s case against Navnoor Kang, Deborah Kelley and Gregg Schonhorn.
October 28