Serious question.
Is there any reason that a concerned member, perhaps even a concerned Board Member, can't file a lawsuit against the City of Chicago for failing to live up to its pension obligations as per state law?
We recall a few months ago that an actual Pension Board (perhaps in New York?) either sued or won a judgment against a municipality that said the Defendant was in violation of a contract and the law by not fully funding its obligations.
We don't see how the City keeps getting away with underfunding all these pensions for years, even decades, in violation of who knows how many rules that exist to prevent such an occurrence.
We'd happily kick in to fund that lawsuit. So would a bunch of almost-retirees who are nervous about whether or not the pension will exist in under 10 years. So would a bunch of retirees who aren't looking forward to eating cat food the rest of their lives.
Is there any reason that a concerned member, perhaps even a concerned Board Member, can't file a lawsuit against the City of Chicago for failing to live up to its pension obligations as per state law?
We recall a few months ago that an actual Pension Board (perhaps in New York?) either sued or won a judgment against a municipality that said the Defendant was in violation of a contract and the law by not fully funding its obligations.
We don't see how the City keeps getting away with underfunding all these pensions for years, even decades, in violation of who knows how many rules that exist to prevent such an occurrence.
We'd happily kick in to fund that lawsuit. So would a bunch of almost-retirees who are nervous about whether or not the pension will exist in under 10 years. So would a bunch of retirees who aren't looking forward to eating cat food the rest of their lives.
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