Chicago pension law ruling expected

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

CHICAGO -- A judge will rule Friday on the constitutionality of a state law aimed at stabilizing two of Chicago's struggling pension funds.

The law that took effect this year, reduced cost-of-living increases and requires workers to pay more.

The city also had to increase its contribution to the municipal and laborers' pension funds.

The city says if the law is voided, the two systems would run out of money within 10 to 13 years.

Opponents cited a state Supreme Court ruling from a similar case in May. It says Illinois' constitution protects public sector workers from pension benefit cuts.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

1 Comment

  • joe

    We all know the ruling. PAY, PAY, PAY. I say let the pensions run dry. No one wants to compromise on the unsustainable pension obligations. And, the taxpayers pay the price.