Pension Payment Debated in Chicago
District seeking break on its contributions.
Faced with one of its biggest budget deficits in 10 years, the Chicago school district wants to reduce contributions to its teacher pension fund.
In an annual speech to a civic group, Chicago schools Chief Executive Officer Arne Duncan said last week he would seek a waiver of state law to allow the district to keep the $10.5 billion pension fund financed at 80 percent of its liabilities, rather than...
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