Brother Eric, Union Steward

Guest Blog by David Marden      “The General Assembly finds that the financial health of the Chicago Transit Authority Retirement Plan has a direct impact on public safety throughout the City of Chicago.” Executive Summary Every day, headlines warn Chicago residents about the dangers of crime on our streets. News coverage often focuses on isolated acts of violence or disorder, yet far less attention is given to decisions made in boardrooms and government offices that can affect the safety and financial security of millions of people for decades. When pension policies allow a select group of individuals to receive benefits that differ substantially from the rules applied to the workforce as a whole, the consequences extend far beyond the retirement system. Decisions that increase long-term pension liabilities without corresponding funding obligations can shift costs onto future employees, taxpayers, and the riding public. At the CTA, the financial consequences of past pens...