Chicago's pensions to dry up in 7 years

Chicago City Wire reports:

The Municipal Employees' Annuity and Benefit Fund of Chicago will run out of movingmoney by the year 2024, according to a model developed by actuary Mary Pat Campbell....

Using data from Truth in Accounting, Pension Tsunami, Wirepoints, and the conservative blog The Other McCain, Campbell based her cash flow model on the last 10 years of government contributions. What she found was that growth rate over that time has been approximately 4 percent, but contributions have not been enough to maintain the fund past 2024.

I wonder how many Chicago pensioners are still hanging around Chicago or are hightailing it out to greener pastures that actually have functioning governments?

Read why Americans need to learn about the nation's most ignored war.

Find out what freelance editorial services I can provide for you.

Comments

Leave a comment

Leave a comment

  • Advertisement:
  • Advertisement:
  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Visit my new website

    I'm a freelance writer, editor and author. I can help you with a wide variety of projects. Check out my new website at www.dennisbyrne.net

  • Subscribe to The Barbershop

    Enter your email address:

    Delivered by FeedBurner

  • Dennis Byrne’s Facebook Fan Page

  • Like me on Facebook

  • Our National Debt

  • Twitter

  • Tags

  • Recent Comments

  • /Users/dennisby/Desktop/trailer.mp4
  • Advertisement: