Late Property Tax Bills Delaying Additional Pension Payment, Chicago Officials Say

Layoffs on table due to budget shortfall, Chicago Mayor Brandon Johnson administration officials say – Chicago Tribune/Yahoo

"There's no way to do it without hitting CPD. They're the highest wage earners in the city and they also, percentage wise, have one of the largest workforces," Budget Director Annette Guzman said. Budget officials also revealed that extra payments to help shore up the city's grossly underfunded public pensions are being threatened by late property tax billing.

Layoffs on table due to budget shortfall, Chicago Mayor Brandon Johnson administration officials say

Chicago Mayor Brandon Johnson's budget team put city employee layoffs on the table Thursday to help close a budget deficit they said could reach $90 million through the end of this year.

Chicago's top mayoral aides pull back on promise to make second half of pension advance in full

Acting Chief Financial Officer Steve Mahr said the city is conducting an analysis to determine when and how much it can afford to pay of the $130 million that remains on the $260 million pension advance at the center of the budget battle.

Late Property Tax Bills Delaying Additional Pension Payment, Chicago Officials Say

An analysis is ongoing to determine when — and how much — Chicago can afford to send to its pension funds in addition to the $2.85 billion that state law requires the city to contribute this year, officials said.

Chicago’s top mayoral aides pull back on promise to make second half of pension advance in full

The $16.7 billion budget approved by a City Council majority that rejected Mayor Brandon Johnson’s corporate head tax required the city to make a full $260 million advance pension payment to stave off another costly reduction in Chicago’s bond rating. The Johnson administration ignored that mandate, made a half payment of $130 million in January, and promised to pay the other half in the second quarter of this year. Now that second installment i…