Moody's: Chicago Pensions Are Worst In The Nation

Crain's Chicago Business reports:

The city of Chicago is the local government most burdened by unfunded retirement plans in the nation, with a pension debt that's more than eight times annual revenues, according to a new study by Moody's Investors Service.

The city's unfunded pension obligations total of $29.80 billion, based on a three-year average calculated by Moody's. That is 15.9 percent of its property tax base, making it the highest in the nation by that measure as well, according to the report, which tracks the 50 largest local governments based on outstanding debt

Here's the report. The essence of Blue America. No word yet on this story from noted Chicago Public School system lobbyist Loretta Durbin.