The state-approved benefit change for some Chicago firefighters adds $180 million to the city’s unfunded tab and $700 million to contributions over 30 years.
Federal prosecutors have been investigating the financial transactions of the D.C. Retirement Board, which manages the city’s $10 billion pension fund for retired teachers, police officers and firefighters.
A managing director and senior consultant with investment consulting firm Verus is planning to retire at the end of 2022 after more than 35 years in the industry.