By Andrew R. Schwartz | Published November 18, 2021 | Posted in Public Pensions | Tagged Tags: COVID-19, intercept claims, pension fund assets | Comments Off on As Illinois Public Pension Crisis Continues, More Intercept Cases Are Likely
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As Illinois Public Pension Crisis Continues, More Intercept Cases Are Likely
Illinois’ municipal public safety pensions remain drastically underfunded, according to recent studies. The disparity shows no sign of abating, as municipal tax revenues that finance the pensions have fallen during the COVID-19 pandemic. Threatened with insolvency, pension trustees throughout the state may need to use the state’s powerful “pension intercept” law to obtain the needed Read More
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Can the Coronavirus Pandemic Excuse Performance of Contractual Obligations?
COVID-19 has had a devastating impact on the U.S. economy, and no less so in the Chicago area. Social distancing guidelines and other restrictions have caused downscaling and other disruption that may leave businesses unable to perform their contractual obligations in whole or in part. When faced with a claimed breach of contract, it may Read More
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