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CTA pension liability isn’t the only one

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.

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