Let’s face it: what are the true prospects for pension reform in Illinois and Chicago?
Once more, from the top, it’s trivial and unhelpful to blame contribution underpayments for the city’s pension woes.
What will it take for Mayor Lightfoot to lead the city towards sustainable pensions?
Here’s where I invite you to share your comments on:
“What’s Worse Funded Than Teamsters’ Central States? Chicago’s Pensions” and the path from 94% to 27% funding for the municipal employees’ plan.
“The Problem With Chicago’s Pensions Is That There Is No Low-Hanging Fruit” (with a self-explanatory title).
“Chicago Pensions: Is There Hope For Reform?” – because we need to be honest about benefit cuts.
“Is Chicago The Next Detroit?” – the differences between the two cities matter.
“Actuary-splaining Chicago’s Pension Liability: A Deeper Dive” – in which I try to explain the crash in funded status for non-experts.
“No, Pension Obligation Bonds Aren’t A Form Of ‘Refinancing’” – don’t be fooled by the politicians!
https://commons.wikimedia.org/wiki/File:20090524_Buildings_along_Chicago_River_line_the_south_border_of_the_Near_North_Side_and_Streeterville_and_the_north_border_of_Chicago_Loop,_Lakeshore_East_and_Illinois_Center.jpg; flickr user mindfrieze [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons
Sales Tax Securitization, anyone?