Emanuel’s pension bill: $1.1 billion a year


Chicago taxpayers finally know the size of the tax bill they’re getting to stabilize City Hall’s major government pension plans: roughly $1.1 billion a year.

As that number is, it’s only preliminary, with changes going upward a distinct possibility based on factors such as return on investments and the outcome of labor negotiations. And concern is rising in the business community, which will pick up much of the tab and is worried that the tax hikes are starting to take a toll on the city’s economy…