12 employees reported this benefit
The future of the pension is uncertain, payments are likely to rise and benefits drop as the city addresses their finance troubles.
You have to work here for a very long time for your pension to matter. Sure you can acquire a lifetime pension with 10 years of service at age 60, but depending upon your salary, you probably won't make much. I think one acquires 2.4% for each year of service (up to 80% of the final salary), and they use your last 4 years of service to determine how much your pension will be (for life). If you can endure the City of Chicago for 30+ years you deserve the deserve some sort of compensation.