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Chicago Police Pension Costs Seen Swelling With Proposed Law

  • Measure could add $3 billion to cost through 2055: Chicago CFO
  • Legislation would boost cost-of-living hikes for younger cops
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Photographer: Scott Olson/Getty Images
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Chicago’s police pension obligations could increase by another $3 billion total through 2055 if the state of Illinois passes a proposed law designed to force the city to acknowledge its probable liabilities for annual pay increases to retirees. 

Illinois State Senator Robert Martwick is preparing to push legislation in 2022 to change eligibility restrictions for cost of living adjustments for police retirees, saying current law understates the impact of those costs. The new law would bring rules for police in line with firefighters, and make the city’s future costs more transparent, he said.