Civic Federation President Laurence Msall

The Fran Spielman Show · Oct 4, 2022 · 34m

Mayor Lori Lightfoot’s $242 million pension pre-payment plan will prevent Chicago’s four cash-strapped pension funds from having to “sell assets in a down market,” but it cannot let Springfield off the hook, the Civic Federation president said Tuesday.

Laurence Msall said state law was used to create the police, fire, laborers and municipal employees pension funds and the Il. General Assembly dictates “who the members are, what their contribution levels must be and what benefits” those retired city employees receive.