Detroit Has Just 9,700 Workers but 21,000 Retirees Drawing Benefits

Is this Chicago's or Illinois' future?

Detroit’s pensioners are right.

The city’s financial problems aren’t their fault, nor is the city’s deep budget hole caused by the checks it issues to retirees, most of whom get about $1,600 a month.

But it is true that the funds are not generating enough income to keep pace with the projected number of retirees and structural costs of the system over the next 30 years.

So why is this a problem now?

Read more.

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Filed under: Chicago

Tags: Detroit financial crisis

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