As we discussed at
last night's SSCIA monthly meeting,
Illinois' Pension Problem still hangs heavy over our head, affecting the
State and City's credit rating, ability to sell bonds and of course trickling
down to our ability to mortgage our purchases.
The City has its own problems.
Mayor Rahm Emanuel is taking another step to whittle down the
city's obligations by settling contracts with unions on a piece meal
basis. The Sun Times reports that he is
close to a deal with two pension funds representing building trades and white collar
employees. The Il General Assembly must
approve the agreement. Speculation is that this potential settlement would put pressure on the police and fire
unions to settle for less.
Not all unions have the same terms and benefits such as
health and retirement age so they negotiate separately.
No comments:
Post a Comment