Chicago makes massive teachers pension fund payment, Emanuel warns of cuts - The City of Chicago just borrowed over a BILLION DOLLARS and the Chicago Public Schools (CPS) also just borrowed over a BILLION DOLLARS - so this $600,000,000.00 pension payment is just a small percentage of what they just borrowed....

Chicago makes massive teachers pension fund payment, Emanuel warns of cuts

Bill Ruthhart

Mayor Rahm Emanuel directed Chicago Public Schools to meet Tuesday's deadline for a $634 million contribution to Chicago's teachers retirement fund but warned making the state-mandated payment would lead the cash-strapped district to make classroom cuts.

• Changes for teachers bring CPS contract talks to a halt