Crain's Chicago Business
This article discuses an upcoming $550 million contribution to the City of Chicago’s police and fire pension funds. The City’s 2014 Annual Financial Analysis, released July 31, interprets language in the 2011 pension law such that the increased contribution is not payable until 2016. The Civic Federation said this gives the City 16 months to negotiate and pass a pension deal before difficult tax hikes or spending cuts are needed.