(The Center Square) – Illinois State Rep. Dan Ugaste, R-Saint Charles, worries Chicago’s newfound plan to divide annual advance supplemental payments for its underfunded pensions into at least two installments could lead to just more mismanagement.
With taxpayers already on the hook for almost $260 million to the city’s four retirement systems as part of the 2026 budget, Mayor Brandon Johnson recently announced his administration would be making a partial payment in January while pushing a second down the line in hopes of loosening cash flow.
Ugaste argues nothing about the new plan gets at the root of what is causing so much stress for taxpayers…