Monthly Archives: March 2015

The school system tapped borrowed money to make a $634 million, state-mandated fiscal 2015 payment to the Chicago Teachers' Pension Fund by a June 30 deadline. It also announced $200 million in spending cuts last month that include the elimination of 1,400 jobs. Talks with the retirement fund over giving the district a $500 million break on its fiscal 2016 pension payment ended without a deal.