Chicago’s pension crisis worsens with investment losses

City Hall’s working group seeking long-term solutions to the city’s pension crisis has its work cut out. (Sun-Times file)

It’s a good thing Mayor Brandon Johnson established his own “working group” to find long-term solutions to Chicago’s pension crisis. The mountain is getting steeper to climb.

Chicago’s unfunded pension liability rose by 5.4% in 2022 — from $33.6 billion to $35.4 billion — after stock market losses suffered by the four city employee pension funds.