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No surprise: Pension woes weigh heavily on Chicago’s balance sheet

JULY 9, 2019 | by Yvette Shields | THE BOND BUYER

“Chicago’s net unfunded pension burden rose by $2 billion to $30 billion in 2018 and the funded status eroded to a collective 24% ratio from 26%. Rising pension contribution requirements and how to fund them weigh heavily on Mayor Lori Lightfoot’s new administration. There was also some good news tucked in the city’s 2018 comprehensive annual financial report, released Friday, and the recently released pension fund CAFRs.”

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