The Windy City has a $26.5 billion problem — it is short of that amount. That’s a lot of dough for one town. Overseers of the city’s finances haven’t kept up with their payments to the city pension funds, while the investment gurus running the funds haven’t been able to make their projected returns. As a result, city pensions are woefully underfunded — having just 50% of their necessary funds in place. And as if being only half funded on the pensions of your current and future retirees wasn’t enough…
Posted on: Thu, 10 Apr 2014 21:13:02 +0000
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