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    Editorial: Chicago can’t afford $3 billion more in pension obligations

    Chicago firefighters, who risk their lives to keep us safe, deserve a decent living and a secure retirement. So, don’t get us wrong when we call out irresponsible legislation moving through Springfield that would add an estimated $3 billion to Chicago’s out-of-control pension obligations over the next three decades. In April, two bills passed out of committee in the General Assembly that would ...
    by Chicago Tribune Editorial Board, Chicago Tribune May 17, 2023 3 minutes
    Firefighters battle a three-alarm fire in an occupied four-story apartment building on Chicago's South Kenwood Avenue on Dec. 6, 2022.

    Chicago firefighters, who risk their lives to keep us safe, deserve a decent living and a secure retirement.

    So, don’t get us wrong when we call out irresponsible legislation moving through Springfield that would add an estimated $3 billion to Chicago’s out-of-control pension obligations over the next three decades.

    In April, two bills passed out of committee in the General Assembly that would boost the pension benefits of Chicago firefighters hired after 2010. One would increase cost-of-living adjustments, and the other would boost the final average salary used in determining a pension.

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