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IPFS News Link • Pensions

With Pension Advice Like This, Chicago And Illinois Are Doomed

• https://www.zerohedge.com by Mark Glennon

That's Amanda Kass, writing in Crain's. Her advice:

The best course of action for the near term is for both Illinois and Chicago to make the payments required under current law. Only after the downward trend in the pension systems' finances has been reversed should lawmakers even consider extending the repayment schedules and/or lowering the funding targets.

That may seem harmless, but hold on. What would it mean to continue making payments required under current law until pensions get to treadwater status – when "the downward trend in our pensions reverses?


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