Retirement for Chicago Park District Employees, With Full Benefits: Age 58; Reflections on Chicago's Second Triple-Notch Bond Downgrade in Six Months
MishTalk
NOVEMBER 12, 2013
The agency made good on its April 2013 promise to evaluate state and local pension plans on more realistic assumptions. Based on the new Moody’s methodology, which uses more conservative assumptions, Chicago’s 2012 pension shortfall jumps nearly 90 percent, to $36 billion from $19 billion. This is a triple-notch downgrade.
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