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Analysis of Daley passing Chicago pension crisis off to Emanuel

Fran SpielmanThe Chicago Sun-Times

Aug 03, 2016

This article originally appeared in the Chicago Sun-Times.

Eight years ago, then-Mayor Richard M. Daley created a 32-member commission drawn from labor, business and banking to confront a problem that threatened to choke future generations of Chicago taxpayers: underfunded city employee pension funds.

Daley said then that the comprehensive solution he was seeking could include everything from benefit reductions and increased employee contributions to a higher retirement age and a shift away from “defined benefit” pension plans and toward the “defined contributions” or 401(k) plans favored by private industry.

“I hope it’s controversial. It has to be. If it’s not controversial, then…

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