WBEZ
This article discusses the impending expiration of the ‘pension holiday’ granted to Chicago Public Schools by the Illinois General Assembly and the resulting $400 million increase in the District’s required pension contribution for FY2014. In its FY2013 CPS Budget Analysis, the Civic Federation said CPS may no longer be able to afford its current pension system and strongly urged the District to pursue pension reforms that ensure a greater balance of employee, retiree and taxpayer interests.