(Bloomberg) -- The Chicago Transit Authority retirement plan had a $1.5 billion hole in its stash of assets in 2007. At the height of a four-year bull market, it didn’t have enough cash on hand to pay its retirees through 2013, meaning it was underfunded to the tune of 62 percent.
CTA's Hidden Pension Fiasco
The CTA is still paying its pensions, but its budget gap is getting bigger and bigger.
Wednesday, Mar 4, 2009 Updated at 7:45 AM CDT