Overview

• A July 8 memo from Chicago CFO Jill Jaworski to top Pritzker aide Andy Manar projected $11.1 billion in added police and fire pension liabilities through 2055 and warned funding could drop below 20%.
• A July 28 follow-up indicated Manar had not received the memo, as the bill moved to unanimous legislative approval and the governor’s August signature.
• Gov. J.B. Pritzker says Mayor Brandon Johnson never called to oppose or revise the bill, while Johnson’s office says the memo and prior testimony show the state was informed of the city’s concerns.
• A Wall Street ratings agency and watchdog groups warn the measure could deepen Chicago’s projected 2026 deficit of about $1.2 billion and heighten downgrade risk.
• Bill sponsor Sen. Robert Martwick defends the changes as providing parity for Tier 2 first responders and addressing IRS Safe Harbor requirements.