CHICAGO — The treasurer of Cook County, Ill., Tuesday said she was shocked by recent figures showing that the county’s local governments together owe $108 billion — nearly a quarter of which is due to unfunded pension liabilities.

The report marks the first effort in the nation to compile information outlining local government debt, budgets and pension obligations, according to Treasurer Maria Pappas.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.