STATEMENT: Treasurer Summers’ Statement on the Illinois Supreme Court Pension Ruling

Chicago City Treasurer Kurt Summers today released the following statement in response to the Illinois Supreme Court’s ruling over state pension reform:

“Despite today’s ruling by the Illinois Supreme Court, Chicago has worked to pass legislation that protects against the insolvency of the municipal and laborers’ funds. In doing so, and in conjunction with the commitment to fully funding the actuarially required contributions, the City’s plan protects both taxpayers and the retirements of 61,000 public employees and retirees. I support and stand with all workers who came together to craft this solution in a fashion that is consistent with our constitutional obligation.”

Treasurer Summers serves as a trustee on four of the City’s public employee pension fund boards which include the Municipal Employees’, Officers, and Officials’ Annuity and Benefit Fund (MEABF); Policemen’s Annuity and Benefit Fund (PABF); Firemen’s Annuity and Benefit Fund (FABF); and the Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund (LABF).