Rahmbo takes aim at pensions

[marmar]

from the Chicago Tribune:



SPRINGFIELD -- Mayor Rahm Emanuel took his case for reining in soaring pension costs to state lawmakers today, saying change is needed or Chicago's "quality of life will suffer."

Emanuel called for implementing a pause on cost-of-living increases for 10 years to allow the six systems "to catch its breath." He called for boosting employee contributions 1 percent each year for five years and offering employees of limited type of choice of retirement plans.

"The day of reckoning has arrived," Emanuel said, saying taxpayers, retirees and employees want politicians to be honest and "level with them" about the problems.

A rare step for a Chicago mayor, Emanuel personally pitched his ideas for cutting costs to a House pension panel. It's an approach that his immediate predecessor, Richard M. Daley, had not taken, though he made a variety of appearances over the years. ............(more)

The complete piece is at: http://www.chicagotribune.com/news/local/breaking/chi-rahm-emanuel-illinois-pensions,0,6926697.story