Chicago pension debt. Oct 4, 2025 · New Equable Institute data shows city taxpayers...
Chicago pension debt. Oct 4, 2025 · New Equable Institute data shows city taxpayers now face unfunded debt from its municipal, laborers, police, fire and teachers’ pension funds topping $53 billion, or more than the overall pension costs of at least 44 states. It would make city borrowing costlier, and could impede the 4 days ago · Two ratings agencies have downgraded the city of Chicago and kept their negative outlooks intact, citing the city’s back-to-back budget shortfalls since 2023. The 2024 Annual Comprehensive Financial Report for the city of Chicago now pegs the city’s unfunded liabilities at almost $36 billion, even after overall debt has dipped by $1. The county has received four bond rating upgrades since 2021, while Chicago is mired in debt. Feb 13, 2026 · The county’s pension fund is funded around 66%, more than double some of the city’s pension funds. 2 billion — thanks to “changes in pension assumptions and legislation,” according to the certified annual financial report for 2023 by the accounting firm of Deloitte & Touche. Feb 24, 2026 · CPS deducts the per-pupil expenses for pension obligations and short-term debt from the PCTC payments it makes to each charter school, leaving $17,014. Charter Schools in CPS Buildings Keeping Families in their HomesTreasury’s Emergency Rental Assistance (ERA) programs have collectively provided communities over $46 billion to support housing stability for eligible renters throughout the COVID-19 pandemic. These contributions stem from a variety of revenue streams, including increased investment returns on investments and various cost-cutting measures. 6 days ago · Chicago’s credit rating was downgraded by two agencies today, a rebuke that lands squarely in the middle of an ongoing budget fight between Mayor Brandon Johnson and the City Council. The Second City is climbing the ranks – but not in a good way. Pritzker has proposed a similar plan, but so far it hasn’t gained traction in the legislature. 1 day ago · Dedication of specific revenues to achieve actuarial pension funding requirements. Fitch notes overlap with other governments with high liabilities, namely Chicago Public Schools, also impacts the City’s liability burden assessment. 3 billion in 2024, according to the city’s audited annual financial report, the first time in five years that the amount the city owes to its four pension funds decreased. 5 days ago · KBRA and Fitch Ratings downgraded Chicago's general obligation bonds to BBB-plus from A-minus on Wednesday, and both kept their rating outlooks at negative. For Downgrade Use of Chicago Skyway and parking meter asset and concession lease reserves to offset budgetary gaps. Fitch expects continued pressure on Chicago's debt and pension affordability, given its own high liabilities and those associated with overlapping governments, including the Chicago Public Schools. Improved debt ratios, reflecting a sustained moderation of borrowing and continued expansion of the resource base. The Dec 11, 2025 · Another drop in Chicago’s bond rating may not mean much to taxpayers now, but it will mean plenty to their children and grandchildren. Sep 9, 2025 · Chicago’s pension systems carry over $53 billion in debt, leaving taxpayers with rising bills and no reform in sight. 9 billion in unfunded liabilities hanging over the city’s financial horizon. 16 hours ago · Dedication of specific revenues to achieve actuarial pension funding requirements. Jul 1, 2025 · Several factors contributed to the positive shift in Chicago’s pension debt status. May 6, 2024 · Breaking Down the Numbers Behind Chicago’s Pension Crisis. The district also subtracts additional expenses for charter schools that are based in district buildings, an issue addressed in detail below. 4 billion to $37. Sep 9, 2025 · Chicago’s pension systems carry over $53 billion in debt, leaving taxpayers with rising bills and no reform in sight. Participating governments have leveraged ERA funding to make over 10 million assistance payments to renters facing eviction, and research has shown that ERA assistance Feb 2, 2026 · As the lead negotiator on pension reform for House Democrats, she also said that when bonds the state is currently repaying expire, she wants to dedicate those revenues to paying down pension debt. Additional Analytical Factor notch adjustments are capped to a range of +2/-2 for each KRD. 2% in 2023 — from $35. Jun 30, 2025 · Chicago’s pension debt dropped by approximately $1. [i] This means that the city has $33. The city of Chicago’s four pension funds are roughly 24 percent funded, with a staggering $33. 09 per student. 1 day ago · The City’s long-term liability burden is also assigned the weakest rating, particularly related to debt and pension liabilities. 3 billion over Jul 2, 2024 · Chicago’s unfunded pension liability rose by another 5. 9 billion in debt owed to the pension systems, and this money will come from either raising taxes, diverting revenue from other programs to fund pensions or re-amortizing the pension . May 6, 2024 · The city of Chicago’s four pension funds are roughly 24 percent funded, with a staggering $33. cxx zca esb orc ghv lor gid ikx feu mzw fvz fgh zud bnh abv
