• HOME :
  • NEWS :
  • CROWDING OUT: CHICAGO PENSION FUND DEMANDS INTERCEPT OF STATE MONEY

Crowding out: Chicago pension fund demands intercept of state money

SEPTEMBER 20, 2018 | by Adam Schuster | ILLINOIS POLICY INSTITUTE

“… Under the pension intercept law, the Illinois comptroller must withhold state funds owed to a local government once a pension fund makes a claim for pension payments owed. For most municipalities, the comptroller can intercept all money owed to local entities from the state – including sales and income tax collections on behalf of municipalities – but for the city of Chicago, the comptroller can only withhold grant money from the state.”

VIEW LESS