Report: Chicago Area Must Focus on Pensions

Shields, Yvette
February 2006
Bond Buyer;2/28/2006, Vol. 355 Issue 32328, p1
Trade Publication
The article discusses a new study from a Chicago-based business watchdog group, the Civic Federation of Chicago, recommending that the Chicago and Cook County governments cut benefits for new employees and boost payments to halt the downward spiral of underfunding pensions. The federation recommended that, to stem the rise of unfounded liabilities, local governments halt the practice of granting benefit enhancements in exchange of salary hikes or health benefits unless they are tied to a required contribution that would fully fund the perks.


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