(Bloomberg) -- Chicago Mayor Rahm Emanuel reached an agreementwith unions on a way to shore up the smallest of the city’sstruggling pension funds, saying it would createa “path to solvency” after a previous overhaul was struck down bythe Illinois Supreme Court.

The city and two unions reached a pact that -- if finalized --would aid a pension that’s set to run out of moneyby 2029.

The deal would require an increase in contributions fromemployees who want to retire as early as 65 and boost Chicago’spayments into the Laborers’ and Retirement Board Employees’ Annuityand Benefit Fund by no less than 30 percent a year over five years,beginning with the contribution due in 2018. The fund serves some8,000 employees, retirees and beneficiaries.

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