CHICAGO Mayor Johnson Launches Campaign to Close Chicago’s Device Gap- Mayor Brandon Johnson, in partnership with World Business Chicago, announced the launch of a month-long.
the free press says it, quote, sets the stage over the battle for pension reductions, sale of assets and proposed cuts to financial creditors. while each battle will have its own challenges the fights over pension cuts will no doubt be the most controversial of them all. judge rhodes ruled pensions can be cut saying nothing distinguishes pension debt from other types of debt. he also said he won t approve changes to the city s pension plans unless they are, quote, fair and equitable. detroit has over 21,000 municipal retirees, each of whom receives an average of $1600 a month or $19,000 a year. but because these pension pools are underfunded by $3.5 billion, accounting for roughly 1/6 of the city s debts pension plans are probably one of the first items to hit the chopping block. for months unions and pension funds have been aggressively fight the city and foyt to keep pensions safe from bankruptcy cuts. early today while awaiting judge rhodes decision retirees marched