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September 2, 2014, 6:46 pm
970 WMAY News

Commercial Club of Chicago Has Harsh Words About Pension Crisis


A group that has been pushing for significant reforms of Illinois’s public pensions now says it may be too late to fix the problem.

 

The Civic Committee of the Commercial Club of Chicago calls the pension mess “unfixable,” but says the state still needs to make major changes to its pension funds… including cuts in the benefits that current retirees receive.

 

Former Illinois Attorney General Tyrone Fahner says without drastic action, the state will have to take away from other vital services to pay for pensions… and the pension funds will still go bankrupt in a matter of years anyway.

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