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News out of the windy city indicates that Chicago’s unfunded pension liability increased by 5.4% last year, making it a $35.4 billion problem. This marks especially troubled times for The City of Chicago’s four pensions, including: The Firemen’s Annuity & Benefit Fund that is 18% funded, Municipal Employees’ Annuity & Benefit Fund of Chicago at… ....
Alderman urges Chicago pension funds to invest in real estate therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
Ald. Gilbert Villegas is calling for a committee hearing to encourage the city's four pension funds to explore investments that prompt real estate development in the city. ....
Illinois governor signs bill eliminating age limits for Chicago Firemen’s COLAs Illinois governor signs bill eliminating age limits for Chicago Firemen’s COLAs Illinois Gov. J.B. Pritzker Illinois Gov. J.B. Pritzker signed a bill into law Monday to remove age-based restrictions for certain participants in the $863 million Chicago Firemen s Annuity & Benefit Fund to receive annual 3% cost-of-living adjustments. The new law removes the eligibility restriction for participants who retire at age 55 who are born after Jan. 1, 1966. Those participants will now receive a 3% COLA. The Senate voted 37-14 in January to pass the bill, and the Illinois House had passed it 72-40 in April 2019. ....