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CTA, unions did their part, now it's Springfield's turn.(Chicago Transit Authority )(Viewpoint essay)
Crain's Chicago Business, July, 2007
It's Springfield's move on transit. Leaders of the Chicago Transit Authority and the city's transit union took a big step last week toward averting a CTA meltdown in September. A deal they cut on pension and health care benefits goes a long way toward plugging the agency's budget gap. The new CTA president, Ron Huberman, did something his predecessors couldn't bring themselves to do: put the issue of generous medical and pension benefits on the table in union talks.
Union bosses, recognizing that the CTA crisis is real, agreed to significant concessions. The result was an agreement that requires CTA workers to contribute 3% of their pay toward health insurance premiums and doubles their pension contribution to 6% of salary. These concessions represent a...
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