© 2024 WNIJ and WNIU
Northern Public Radio
801 N 1st St.
DeKalb, IL 60115
815-753-9000
Northern Public Radio
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
WNIJ's summary of news items around our state.

Illinois Supreme Court Throws Out Plan To Save Chicago's Pension Systems

"Courtroom One Gavel" by Flickr User Beth Cortez-Neavel / (CC BY 2.0)

Justices had some harsh words Thursday for city officials in a ruling.

For years, the City of Chicago skipped putting money into pension funds. And now, attorneys say two pension accounts will run out of money in a decade.

Mayor Emanuel had come to an agreement with several unions to reduce employee benefits to make sure they even have a retirement account, but Illinois Supreme Court justices said the state constitution won’t let them do that.

Justice Mary Jane Theis writes: The city has been on notice since the ratification of the 1970 Constitution that the benefits of membership must be paid in full.

That is,  the city has known for 46 years it has to put money into its pensions.

Related Stories