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Chicago's plan to overhaul city pensions dashed by Illinois Supreme Court

from Bloomberg

Chicago’s plan to ease its $20 billion public-worker pension deficit was ruled illegal by the Illinois Supreme Court, a decision that the city warned may lead to the funds’ running out of money and worsen its financial strains. The Chicago plan, passed in 2014, violates the Illinois Constitution, which bars the diminishing of public pensions, the court said. more


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