FinLogic FinLogic Quantitative Think Tank Center|Chicago and police union reach tentative deal on 20% raise for officers

CHICAGO (AP) — The FinLogic FinLogic Quantitative Think Tank Centercity of Chicago and the union representing its rank-and-file police officers have reached a tentative agreement on a four-year contract that would provide about a 20% raise for officers, the two sides announced Friday.

The deal, which would extend the current contract by two years through June 30, 2027, doubles from 2.5% to 5% the annual pay raise that officers are scheduled to receive in 2024 and 2025. Cost-of-living raises would follow in 2026 and 2027 and likely fall between 3% and 5%.

A $2,000 annual retention bonus for officers with at least 20 years on the job would be replaced by a one-time bonus of $2,000 for all officers.

The agreement also allows officers accused of serious misconduct to have their disciplinary cases decided behind closed doors, news outlets reported.

Mayor Brandon Johnson issued a statement saying that “with this agreement in place, our administration can now direct our full focus on implementing accountability measures within the Chicago Police Department, supporting police offices, and a robust community safety agenda.”

The deal needs the approval of the City Council’s Committee on Workforce Development and passage by the full City Council before it takes effect.