Statement from President Preckwinkle on the 2011 Cook County Pension Fund Actuary Report

“The Cook County Pension fund released figures today showing that the funded ratios for Cook County and the Forest Preserve District as of December 31, 2011 are 57.5% and 61.6%, respectively.  In 2010, the funding levels were 60.7% and 65.2%, respectively.

“The downward trend of our funding ratios resulting from a recurring structural deficit is a reminder of the glaring need for pension reform at the State level.  We owe it to the employees who have paid into the system and the taxpayers who are frustrated with the status quo to make comprehensive changes that will make the system sustainable.  I urge the members of the General Assembly to move swiftly to enact responsible legislation.”