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Chicago Mayor Bypasses State, Introduces Plan to Raise City Contributions for Two Pension Plans
Pensions & Investments 
June 30, 2017 "The ordinance calls for Chicago's pension contributions to be increased over the next five years, reaching actuarial required levels in budget year 2022, payable in 2023.... The city contribution changes ... formed part of a municipal and laborers' pension reform bill that was passed by the Illinois Legislature in April and is awaiting Gov. Bruce Rauner's signature.... While the city can increase its contributions without a state law change, it does not have the authority to adjust employee contributions or benefits." MORE >> |
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