Legal Challenge of the Effort to Reduce Chicago Pension Obligations

From the Illinois Supreme Court –– We hear the oral arguments in the case that challenged the effort of the Emanuel administration to reduce the cost of Chicago pensions. The IL Supreme Court earlier ruled the state can’t reduce existing pension benefits for state employees. In this case,  Chicago’s Corp Counsel Steve Patton argues the city’s unions agreed that pension adjustments would be made, to avoid a collapse of the pension fund.