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Chicago pension law struck down by court

from Chief Investment Officer

A circuit court judge has ruled that a 2014 law that altered the Park Employees’ Annuity and Benefit Fund of Chicago was unconstitutional because it reduced benefits by increasing the retirement eligibility age and lowering cost-of-living increases and disability benefits. The judge also ordered that the Chicago Park District return the higher retirement contributions workers made between Jan. 1, 2015 through March 23, 2018. more

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