Chicago should focus on raising revenue rather than cutting employee pensions as City Hall and the state legislature mull reforms to dig out of a multi-billion dollar pension crisis, according to a new report released by a coalition of public workers' unions.

The study, dubbed "The Great Chicago Pension Caper: Neighborhood Destabilization in an Age of Austerity," concluded that cutting pension benefits would hit women and African Americans in disproportionate numbers and send negative economic ripples throughout the communities where they live.

It was released by the We Are One Chicago group, which brings together nine labor groups representing nearly 140,000 city workers, ahead of a rally in the state capital of Springfield today.

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