Lightfoot’s extra pension payments don’t let Springfield off the hook, Civic Federation says

Chicago Mayor Lori Lightfoot’s plan to include additional pension funding in her 2023 city budget won praise from Civic Federation President Laurence Msall, but he also noted the real work to fix the problem should be done in Springfield. (Ashlee Rezin/Sun-Times)

Mayor Lori Lightfoot’s $242 million pension prepayment plan will prevent Chicago’s four cash-strapped pension funds from having to “sell assets in a down market” to meet obligations, but Springfield shouldn’t be let off the hook, the Civic Federation president said Tuesday.

Laurence Msall said state law was used to create the police, fire, laborers and municipal employees pension funds, and the Illinois General Assembly dictates “who the members are, what their contribution levels must be and what benefits” those retired city employees receive.