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Chicago’s Next School Crisis: Pension Fund Is Running Dry
New York Times reports The Chicago Teachers’ Pension Fund has about $10 billion in assets, but is paying out more than $1 billion in benefits a year — much more than it has been taking in.

(New York Times) What many Chicago residents may not realize is that their school district also has been paying $130 million a year to cover most of the pension contributions required of the teachers, a practice known as a “pickup,” which became a flash point last year in the collective bargaining battle in Wisconsin. Wisconsin’s public workers have agreed to make their own contributions, as a concession.  Read more.

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