Pension Crisis

Civic Federation Backs Emanuel Property Tax Hike, But Has ConcernsA respected financial watchdog group has thrown its support behind Mayor Rahm Emanuel’s budget plan, but it comes with a warning.
Claypool Still Hopeful For Compromise On Pension Bailout From StateChicago Public Schools CEO Forrest Claypool said he’s not discouraged by Illinois House Speaker Michael Madigan’s opposition to a nearly $500 million bailout of the financially-strapped school district.
Judge Rules City's 2014 Pension Overhaul UnconstitutionalThe overhaul approved by lawmakers sought to eliminate a $9.4 billion unfunded pension liability by cutting benefits and increasing contributions. It would affect about 61,000 city employees and retirees.
Local School Councils: "Stop Pointing Fingers" And Fix The CPS BudgetMembers of Local School Councils from around the city have called on local leaders to stop pointing fingers in regard to the Chicago Public Schools' budget situation, and find a way to reverse the budget cuts affecting neighborhood schools.
Emanuel To Rauner: Stop 'Personalizing' Budget And Pension Fight With MadiganA day after Gov. Bruce Rauner told Illinois House Speaker Michael Madigan to either fall in line with his agenda or pass a tax hike on his own, Mayor Rahm Emanuel is warning Rauner that doing so was a bad move.
Teachers Protest CPS Budget Cuts, LayoffsPublic school teachers were raising their voices against Mayor Rahm Emanuel’s leadership of the district; in particular his proposal to help shore up CPS finances by having teachers pay the full cost of their individual pension contributions, most of which is now paid by the district.
Preckwinkle: Sales Tax Hike Necessary To Keep County AfloatCook County Board President Toni Preckwinkle said Tuesday she will present a preliminary budget plan that includes a proposal to increase the county sales tax she spent years rolling back.
Testing, Evaluations Focus Of Negotiations Between CPS, TeachersThe Chicago Public Schools and its teachers face two deadlines on Tuesday: their three-year contract expires at midnight, and a $634 million pension payment is due by the end of the day.
Emanuel Rejects Rauner Plan To Advance $450M To Chicago SchoolsMayor Rahm Emanuel is rejecting Gov. Bruce Rauner's offer to advance $450 million in state funds to help Chicago Public Schools make a $634 million pension payment.
Document: Rauner Plan Would Advance $450M To Chicago SchoolsGov. Bruce Rauner is offering to accelerate state grant payments to help cash-strapped Chicago Public Schools make a $634 million pension contribution, according to a summary of the proposal obtained Sunday by The Associated Press.
Analyst: CPS Has 'No Choice' But To Borrow $1B Amid Cash CrunchA top financial analyst said bond rating agencies probably won’t be troubled by the Chicago Board of Education’s vote to borrow more than $1 billion to help the Chicago Public Schools address a massive budget crunch in the coming year.
House Defeats Delay In CPS Pension PaymentIllinois Democrats' cross-party dispute in the state Capitol turned internal Tuesday when the majority party in the House failed to approve giving cash-strapped Chicago Public Schools a six-week reprieve on making a $634 million pension contribution.
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