Chicago Mayor Rahm Emanuel visited the state Capitol on Tuesday and testified about his proposal to cut pension costs. He wants to raise the retirement age, make city employees contribute more to their pension funds and halt cost-of-living increases for retirees. He also wants the state to contribute pension money for Chicago teachers, as it does now for other teachers across Illinois. Emanuel says that without these changes, Chicago residents could face a 150 percent increase in taxes.
Emanuel urges Illinois lawmakers to take on pension reform
May 9, 2012 By