Chicago Tribune
This article covers a vote by the Chicago police sergeants union to reject a proposed contract agreed on by the City of Chicago and sergeants union representatives. The proposed contract would have increased employee pension contributions and the retirement age while reducing automatic annual pension benefit increases and calling for 90 percent funding of the City’s public safety pension funds by 2040. The Civic Federation’s Status of Local Pension Funding report found that the Chicago Police pension fund was only 40 percent funded in FY2010.