“The Chicago Teachers’ Pension Fund currently has $14 billion worth of unfunded liabilities and a funded ratio of 48%”
Chicago Mayor Brandon Johnson is currently set to receive a pension worth an estimated $3.8 million through the Chicago Teachers’ Pension Fund and the Municipal Employees Annuity and Benefit Fund.
He qualifies for these benefits thanks to multiple loopholes in the state’s pension code. His pension payout could ultimately be worth far more – maybe $5.53 million – by further leveraging these loopholes after four years in a classroom and his first term as mayor.
NEW: Chicago Mayor Brandon Johnson’s pensions are worth an estimated $3.8 million after only four years as a teacher and one term as mayor.
Projected Chicago area budget deficits for upcoming year
Chicago Public Schools: $505 mil
Chicago Transit: $577 mil
City of Chicago: $982 mil
Cook County: $218 mil
Illinois: $3.2 bilEven Univ off Chicago has $221 million deficit. Each also faces huge unfunded pension debt.
