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Pension problems plague Chicago’s fiscal health, new rankings show

Kevin HoffmanReboot Illinois

Jan 13, 2017

With more than $30 billion in unfunded pension debt alone, Chicago’s rankings are scraping the bottom in two new reports on the fiscal condition of the nation’s largest cities.

An analysis by The Fiscal Times of 116 U.S. cities with populations greater than 200,000 ranked Chicago dead last for fiscal strength, largely because of the enormous amount in unfunded pension liabilities saddling the city.

The ranking was compiled using data from cities’ fiscal year 2015 comprehensive annual financial reports and is based on five factors which are weighted:

  • Ratio of general fund balance to expenditures (40 percent)
  • Ratio of long-term obligations — including other post-employment…

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