CHART: CHICAGO’S BALLOONING PENSION CONTRIBUTIONS
Ted Ballantine at Pension360 reports that Mike Corones at Reuters has produced a graphic (above) showing Chicago’s pension payments until 2020 – and the big spike the city will begin seeing in its contributions in this year.
The city paid $476 million into its pension systems in 2014, but that total will more than double in 2015. But 2020, $476 million will seem like pocket change as Chicago will be on the hook for $1.6 billion.
Chart credit: Reuters