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Chicago - Mayor Emanuel proposes legalizing marijuana, casino to pay for pensions [View all]
https://wgntv.com/2018/12/12/emanuel-proposes-legalizing-marijuana-casino-to-pay-for-pensions/— Mayor Rahm Emanuel will lay out his recommendations for dealing with city pensions.
He will propose that lawmakers legalize marijuana and allow a casino in the city to help cover the costs.
The Chicago Tribune reports he'll recommend aldermen set up pension obligation bonds to help cut the amount the city owes retirement funds.
The looming pension crisis will require nearly $1 billion in annual retirement payments by 2023.
Sources say he does not plan to borrow money to cover retirement funds
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