The City of Chicago is preparing to make its final case to the Illinois Supreme Court that changes to some of its underfunded pension systems are constitutional.
City attorneys argue their changes to city workers’ retirement benefits prevent the funds from running out of money.
Let’s say the pension funds run out of money. The city thinks unions representing those workers will go back to court - asking a judge to force the city to pay the very pensions that are out of money.
But city attorneys say there’s no guarantee a judge could force the city to find the money - or raise taxes.
In effect - the city says without their changes, there won’t be a pension for these retirees in the future.
Unions argue the state constitution doesn’t allow Chicago to cut benefits.
