Matt O'Shea

19th Ward Alderman Matt O'Shea

19th Ward Ald. Matt O’Shea is among the 45 of 50 aldermen who will take about a 5.5-percent pay raise next year.

The aldermen had until Sept. 15 to decline the raise, which is based on the Consumer Price Index (CPI) and inflation, and five made that decision.

According to city records, O’Shea’s salary this year is $113,784, which ties him with two other aldermen for fourth-lowest in the Chicago City Council.

It will increase to about $120,000 beginning Jan. 1.

O’Shea did not respond to multiple requests for comment.

His salary in 2011, when he took office, was $108,086.

There are 31 aldermen with a salary this year of $123,504, the top salary in the City Council.

Marty Quinn, who represents the 13th Ward, has the lowest salary, at $109,812.

The five aldermen not taking the raise were Raymond Lopez (15th), Silvana Tabares (23rd), Felix Cardona (31st), Gilbert Villegas (36th) and Matt Martin (47th).

In 2006, the City Council approved an ordinance that ties yearly salary changes to the CPI, which, according to the U.S. Bureau of Labor Statistics, is “a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.”

As such, salaries can increase or decrease.

As the Chicago Tribune reported, the upcoming raise is the largest, in percentage, for the City Council in more than a decade.

The $6,743 raise for the highest-paid aldermen will be the largest amount in dollars since aldermen passed the ordinance.