pension funding

Cook County Budget Relies on Reserves as Officials Confront Lasting Shortfalls (Chicago, IL) — Cook County’s proposed budget would spare residents a tax increase and...

The Republican attorney and small-business owner says the office should challenge questionable spending, prioritize essential-service payments and answer to taxpayers rather than political leaders. #election #illinois #comptroller

County officials attributed the balanced proposal to 15 years of fiscal discipline, which allowed local government to absorb severe external financial shocks, including federal funding rollbacks and court-ordered revenue freezes. #cookcounty

Aldermen voted 46-3 Tuesday to approve the transfer of Chicago Parking Meters LLC to New York-based infrastructure investment firm Stonepeak Partners, clearing the way for a $2.53 billion transaction after months of negotiations over concessions for the city. #parking #chicago

According to the Civic Federation, the legislation is projected to increase required city contributions to the Police and Fire pension systems by approximately $8.4 billion between 2025 and 2055, representing about $1.7 billion in present value. #pension #civicfederation #chicago

The alternative budget also includes a roughly $1 billion sweep of tax-increment-financing dollars to Chicago Public Schools. #chicago #budget #thecentersquare