CTA pension liability isn’t the only one
Posted by taxpayer on March 26, 2007
A February Civic Federation report(pdf), which I just encountered, reviews the year-end 2005 status of ten pension funds serving local gov’t employees in Chicago and Cook County, including CTA. Total unfunded liabilities: $16,486,000,000. And of course this doesn’t include any of the inadequately-funded State pension funds, nor suburban funds.
So some solution will have to be found for public pension funds, and I see no reason why transit riders should pay any more than other taxpayers for unwise decisions made by those they elected.
