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As budget decisions loom, decades of pension shortfalls haunt Illinois and Chicago

Cole Lauterbach  |  May 21, 2020

By Cole Lauterbach, includes “… The city’s pension debt has grown by $7 billion since 2015, according to a Chicago Tribune analysis in late 2019 and is scheduled to cost more than $1 billion annually in the coming years. ‘The latest point that we have is the product of years of effectively not balancing a budget,’ Truth in Accounting Research Director Bill Bergman said. Its annual City Combined Taxpayer Burden report released in April showed Chicago taxpayers shoulder $122,100 in deferred costs from the multiple units of government they reside in.” 

Read the full article on: The Center Square – Illinois

 
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