Babaamaajimowinan (Telling of news in different places)

Chicago Public Schools' huge pension debt just got $1 billion deeper, new estimates show

Less aggressive investment return estimates have carved an additional $1 billion hole in the severely underfunded pension system for Chicago teachers, reviving questions about how a retirement plan for tens of thousands of public workers can survive without additional money from taxpayers.

Consultants for the Chicago Teachers’ Pension Fund now conclude the system is about $11 billion in the red and faces an even steeper climb to comply with a state law that requires it to be 90 percent funded by 2059, financial documents show.

http://www.chicagotribune.com/news/ct-met-chicago-teachers-pension-fund-update-20180313-story.html

 

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