chicago illinois governor bruce rauner friday veto legislative fix favor chicago mayor rahm emanuel two city struggle pension fund castigate kick-the-can approach financial foot credit rat nation third-largest city slip precipitously unfunded pension liabilities grow 33.8 billion chicago four retirement systems recent account plan pass illinois senate unanimously january clear house overwhelmingly last december would grant state bless alter city pension repayment schedule municipal laborers retirement systems systems project run money come decade depend legislative sign-off city enactment water sewer usage tax telephone surcharge design help get 90 percent fund 40 years city officials acknowledge money need start 2023 payments reach actuarially require level rauner reject package say create payment schedule eventually would necessitate tax increase chicago say need part broad statewide pension fund strategy address illinois 129.8 billion unfunded pension liability another kick-the-can approach pension fund land chicago fiscal crisis first place rauner say prepare statement bill create unsustainable fund schedule lead tax increase without solve real problem spokesman democratic mayor slam republican governor action irresponsible irrational decision instead help secure future taxpayers middle-class retire governor choose hold hostage do social service providers schoolchildren universities across state emanuel spokesman adam collins say statement refer rauner inability broke state budget deal 21 months rauner action leave democrats ability block veto pension bailout pass previous session state general assembly end mid-january governor options approve reject measure city pin hop identical piece legislation pass newly seat state senate late january await action house collins say illinois governor veto chicago pension fix anger city 's mayor