Houlihan v. City of Chicago

Participants in the City of Chicago’s (the City) municipal employees’ pension funds brought this suit as a derivative and class action against the City of Chicago, alleging that the City failed to comply with the requirements of the Illinois Pension Code (the Pension Code) (40 ILCS 5/1 — 101 et seq. (West 1996)) by not paying interest on money collected for the City’s municipal pension funds. The City filed a motion to dismiss plaintiffs’ second amended complaint pursuant to sections 2 — 615 and 2 — 619 of the Illinois Code of Civil Procedure (the Code of Civil Procedure). 735 ILCS 5/2 — 615,…