Lawmakers vote down pension help for Chicago schools

Jun 23, 2015


Illinois state lawmakers have rejected a plan to give Chicago Public Schools a short-term reprieve from a big pension payment.

 

Chicago Public Schools has to ask Illinois lawmakers in Springfield for permission to delay paying 634 million dollars for teacher pensions. It’s due at the end of this month.

Jesse Ruiz is the interim head of Chicago Public Schools - and wanted to put the payment off for 40 days to find a “permanent solution.”

 

Absent this action today, CPS will be in a position of deciding between paying pensions or operating our schools and jeopardizing the beginning of the school year in September.

Since the measure failed - supporters warned that CPS may have to borrow even more money to pay what it owes the pensions.