AEG Senior Consultant Jason Horwitz shared his thoughts on Chicago’s pensions in an op-ed for Crain’s Chicago Business. His article references Anderson Economic Group’s 2014 report: Proposed Reforms to Chicago Pensions, What’s At Stake and How Much it Will Cost.
“Nearly two years ago, Mayor Rahm Emanuel convinced the state legislature to pass reforms to more responsibly fund city pensions. Thursday, the Illinois Supreme Court upheld the Cook County Circuit Court ruling that the reforms were unconstitutional. Meanwhile, two years of continued underfunding have gone by and another potential solution has been eliminated. While it will be costly, the city must try again with a reform that they are confident will pass constitutional muster.”