If Chicago Public Schools passes off the pension payment to Chicago, the impact on the city’s finances would be dire. We would end this year with a deficit.

Let’s assume for a minute that your lump sum pension payment begins at 65 and is an estimated $250,000 paid as a single payment. This $250,000 now has to last you for an unknown period, ...

More than 3.2 million Social Security recipients who received pensions from their time as teachers, firefighters, police officers and other public service jobs will soon see a boost in their benefits ...