Mayor Brandon Johnson Reassures Bond Investors on Chicago's Pension Obligations Amidst Budget Shortfalls
Chicago Mayor Brandon Johnson has assured bond investors that his administration will fulfill the city's pension payment obligations by the end of the year. This comes despite earlier uncertainty from the city's former Chief Financial Officer, Steven Mahr, who had hedged on whether the full advance pension payment, budgeted at $260 million, would be made. Johnson's administration had initially proposed lowering the advance payment to $121 million from the previous year's $260 million, but the City Council majority insisted on the full amount. In January, only $130 million of the budgeted amount was paid, with the remainder promised later in the year. Mayor Johnson clarified that the delay was due to Cook County's delayed property tax revenues, emphasizing that the payment is a matter of 'when, not if.' This reassurance was delivered during the city's annual meeting with the investment community, following personnel changes in the finance department, including Mahr's departure and the appointment of Ashlee ... 
