Gov. Pat Quinn signed the Chicago pension reform bill that cuts benefits from the city’s municipal and laborer employees, and increases employees' contributions. There’s a combined $9.4 billion deficit, and Quinn has left it up to the city to figure out how it’s going to be funded. Elizabeth Brackett sits down with Ald. Brendan Reilly, Ald. Michele Smith, and Ald. George A. Cardenasto find out how they plan to come up with the money.

The current Chicago pension law is the result of an accord struck by the mayor and 30 unions representing city workers in two of the four pension systems – municipal and laborers. Some prominent changes include retirement age, and annual adjustment calculations.

Related Links:

Chicago Tonight: Chicago Pension Reform

File Attachments:

SB1922.pdf