After a long and contentious year of attempts to fix Chicago’s expensive and ailing pension system, leaders have been warned that continuing to not do anything may cost the city an extra $1.5 billion per year in just a few years’ time.

The Chicago Tribune reports that city aldermen received the tough news as part of a lengthy meeting with Mayor Rahm Emanuel and the mayors of many other Illinois cities and towns – a gathering designed to pressure Governor Pat Quinn to take action on substantial state-wide public pension reform.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.