Question: Explain the difference between a defined benefit and defined contribution pension plan. Then examine the City of Chicagos Police and Firefighters Pension Funds. Explain what

Explain the difference between a defined benefit and defined contribution pension plan. Then examine the City of Chicagos Police and Firefighters Pension Funds. Explain what type of plan they are and what are the problems they currently face. How did they get into the situation they find themselves in today?

https://chipabf.org/fund-reports/

https://www.fabf.org/FinanceInfo.html

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