Chicago pension debt: $18,000 per person

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moneyThe City of Chicago is swimming in pension debt.

A new study by the investment research company Morningstar finds, the city’s pension liability amounts to more than $18,500 for every person in the city.

That’s twice as bad as the next most debt-ridden city, New York.

The Civic Federation says the figure doesn’t include the pensions debts of the CTA, Chicago Park District, Cook County Forest Preserve and Metropolitan Water Reclamation District.

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