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Chicago’s Pension Reform Law Ruled Unconstitutional

CHICAGO—(ENEWSPF)—July 24, 2015. Cook County Circuit Court Judge Rita Novak ruled today that a law intended to improve two public worker retirement systems violates the Illinois constitution. The ruling is viewed as a major setback for Mayor Rahm Emanuel who has repeatedly said that taxes will need to be raised without pension reforms.

The city argued that without the law, the two pension systems would run out of money within 10 to 13 years and that under Illinois law, payments to retirees would be the obligation of the pension funds, not Chicago. Labor . . .

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