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Chicago Still Needs to Reform Pension System
Pensions & Investments Dec. 5, 2013 "The state's pension reform deal may offer both a political and actuarial template for further action, but the intricate adjustments in benefits, contribution levels and other details aren't directly transferable to Chicago's plans. The same is true for Cook County's pension liabilities, which are significant but not as severe as the city's. Without reform, it would take roughly a 35% increase in property taxes to meet required pension contributions for all local governments in the Chicago area[.]" |
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