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Chicago CFO tries to calm investors after pension veto

from The Bond Buyer

Chicago expects the veto-proof passage by early April of state legislation to save its municipal and laborers' pension funds from insolvency, the city's finance chief told investors Monday. "We are pretty confident or optimistic ... we would have enough votes to override," chief financial officer Carole Brown said in an investor call following Gov. Bruce Rauner's Friday veto of the original legislation written to put in place revised funding formulas for two funds. more

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