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Chicago Pension Compromise Would Boost Contributions
Pensions & Investments Link to more items from this source
Apr. 1, 2014
"The deal with the unions is intended to improve funding for the municipal plan, which is 38% funded, and the laborers plan, which is 58% funded. Workers participating in the two plans would see their contributions rise 0.5% each of the next five years to 11% of pay from the current 8.5%. The deal also would increase the city's contribution to the two pension funds by a fixed amount each year until 2020, when the city would have to put in the amount required by actuaries to have 90% funding for both plans."

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