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Chicago Police Pension Goes Bust

Armstrong Economics – by Martin Armstrong

Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services (LGIS). At the end of 2020, LGIS estimates that the Policemen’s Annuity and Benefit Fund of Chicago will have less than $150 million in assets to pay $928 million promised to 14,133 retirees the following year.  

This is the fate of state and local pension funds. There is a storm gathering on the horizon and of course these state and local governments will be raising taxes to try to stay afloat. The system is collapsing and it is totally unsustainable. This is the very same crisis that destroyed the Roman Empire.

Armstrong Economics

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6 Responses to Chicago Police Pension Goes Bust

  1. Grump says:

    Maybe they should have got a real job

  2. tc says:

    Uh oh. Looks like it’s time for a fake terrorist attack or fake lone wolf wingnut attack in Chicago. Some cops may have to fake their deaths on this one.
    Whatever it is that happens, it will be designed to pull and tug at the hearts and minds and purse strings and bank accounts of the stupid people.
    We’ll hear things like, “Please, help our heroes in uniform in their time of need.” and GoFundMe pages will be set up in their names. Anything to get the donations rolling in and their pension fund padded.
    When it happens, I will buy more ammo.

  3. Enemy of the State says:

    Stay the F outa this state
    They will be fleecing the public at a much faster and more furious pace now more than ever before

    They need us and our money to further their agenda and their financial security
    Let them suck it dry and have sand pounded in their As*ses
    Give these beotches nothing

  4. FarmerDave says:

    This is what happens in a police state. Those with money and means have left the decrepited state and gone to more friendly places in the country, leaving behind the police and the gang-bangers. Oh boo-hoo, there will be no money for my retirement because gang-bangers don’t pay taxes. Watch for a mass exit of pigs from the state to start feeding on other states and causing the same hate and discontent where ever they go. Let the gang-bangers have Chicago and fence it off until they kill each other, then ship the last one back to El Salvador.

  5. Enemy of the State says:

    Poof
    And it’s gone ….
    see , you bastards been played too

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