A federal lawsuit has been filed against Cook County and its employee pension fund claiming they violated federal law by failing to allow a U.S. Army Reserve member to contribute to her pension while serving in the armed forces.
The Chicago City Council is urging the city’s largest employee pension fund to divest itself from companies that do business with Iran’s energy sector.
Illinois’ public employee pension funds are in trouble. The state’s largest retirement account is financially strapped, and many say it cannot go on unless big changes are made.
Exactly two weeks before former Gov. Rod Blagojevich is scheduled to report to prison, a federal judge has ordered that nearly $22,000 be seized from Blagojevich’s state pension fund to pay off the fines and penalties that were part of his sentence on corruption charges.
Cook County Treasurer Maria Pappas is pushing the County Board to pass an ordinance requiring all local taxing districts to reveal their pension fund shortfalls.