Chicago Sun-Times
Mayor Rahm Emanuel addressed the Illinois House Personnel and Pension Committee on May 8 with a plan to reform the City of Chicago’s pension funds. The Mayor’s proposal includes a five-year increase in retirement age and a ten-year suspension of automatic annual pension benefit increases. The Civic Federation supports the direction of the Mayor’s proposal and the focus on the automatic annual benefit increase which actuaries have identified as one of the most expensive aspects of the pension system.