Chicago pensions

Attorneys for the City of Chicago say city employees will be worse off if Supreme Court justices strike down their pension plan.

A Cook County judge sided with unions in ruling against changes Mayor Rahm Emanuel wants to make to city employees’ retirement benefits.

In the city’s appeal to the Illinois Supreme Court, attorneys write that the two pension funds will run out of money within 13 years without changes. They argue employees may sue the city to put money into the pensions.

Quinn Signs Chicago Pension Measure

Jun 10, 2014
state of Illinois

Illinois Governor Pat Quinn has signed a bill that reduces the retirement benefits of some City of Chicago employees.

Quinn signed the controversial pension bill in private.

But he released a statement saying he was quote - “dismayed by the ill-advised attempt” to have lawmakers impose a tax increase on Chicago residents.

An earlier version of the measure called on Chicago’s city council to raise property taxes - but that was removed from the final version.

Chicago Pension Measure Headed To Quinn's Desk

Apr 9, 2014

A bill to cut retirement benefits for some City of Chicago employees has made its way to the governor’s desk. But it’s not clear whether he will sign it.

In one day - the Illinois State House and Senate approved a measure affecting more than 56,000 city laborers and municipal workers.

Chicago Mayor Rahm Emanuel sounded optimistic when he spoke to reporters after the plan cleared the state legislature Tuesday.