Chicago will seek pension answers over the summer
All constitutional options need to be on the table, state Sen. Robert Martwick said, including fund consolidation, pension obligation bonds, new taxes and more.
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All constitutional options need to be on the table, state Sen. Robert Martwick said, including fund consolidation, pension obligation bonds, new taxes and more.
Legal, fiscal and political challenges abound when Chicago mayors try to fill pension fund gaps.
Some Chicagoans objected to the proposed map because they felt it lacked sufficient Latino representation.
The Democrat-controlled Senate approved the budget with a 34-22 vote on Thursday evening, which will allocate an additional $100 million to higher ed, $85 million for homelessness and $200 million toward pension plans.
Illinois’ pension crisis drives up property taxes across the state and siphons resources away from other critical government services.