Illinois Court Strikes Down Chicago Pension Reforms, Deepening City’s Financial Crisis
Via Cadwalader.com, By The Associated Press, Cadwalader.com, July 29, 2015, On July 24, 2015, Judge Rita M. Novak of the Circuit Court of Cook County, Illinois struck down recently enacted legislation designed to shore up two of the City of Chicago’s severely underfunded pension plans by, among other things, reducing benefits.1 Judge Novak viewed as controlling a decision by the Illinois Supreme Court from May … Continue reading Illinois Court Strikes Down Chicago Pension Reforms, Deepening City’s Financial Crisis