Harvey revenue agreement highlights need for pension reform – or municipal bankruptcy

By Joe Tabor

06/08/2018

Illinois’ pension laws are forcing the city of Harvey to pay its creditors through short-term negotiated agreements just to meet payroll.

TAGS: bankruptcy, corruption, harvey, municipal pensions, pensions

Restrictions on pension spiking a win for Illinois taxpayers

By Adam Schuster

06/06/2018

Illinois’ fiscal year 2019 spending plan includes reforms to discourage some irresponsible spending by local governments.

TAGS: municipal pensions, pensions, spiking, teacher salaries, TRS: Teachers’ Retirement System

Rhode Island city offers dire warning to Illinois municipalities struggling with pension debt

By Joe Tabor

06/06/2018

Central Falls, Rhode Island, filed for bankruptcy largely because of pension debt. If Illinois municipalities can’t meet or lower their pension obligations, they too could face fiscal collapse.

TAGS: bankruptcy, harvey, municipal pensions, pensions, Spending

Retired police official to keep $84K pension despite sexual assault of a minor

By Vincent Caruso

05/21/2018

A criminal sexual assault conviction will not interfere with a retired suburban deputy police chief’s $84,000 annual pension.

TAGS: Lake in the Hills, pensions, police

Round Lake Park’s police pension crisis could result in state intervention

By Brendan Bakala

04/20/2018

Under Illinois law, towns that miss required pension contributions risk state intervention. In 2016, Round Lake Park paid less than 40 percent of its required pension contribution.

TAGS: municipal pensions, pensions, property taxes

Harvey pension crisis leads to mass layoffs

By Adam Schuster

04/11/2018

Police, firemen and other government workers will be laid off to cover pension costs.

TAGS: Edgar Ramp, municipal pensions, pensions, property taxes

Chicago Park District pension reform ruled unconstitutional

By Adam Schuster

04/05/2018

The ruling will likely mean higher taxes for Chicagoans.

TAGS: Chicago, Chicago Park District, COLA, municipal pensions, pensions, property taxes

Alton in negotiations to sell off city sewer system and water treatment plant to pay for pensions

By Brendan Bakala

03/05/2018

Most of the proceeds from the sale of Alton's sewer system and water treatment plant would go toward combined police and fire pension debt of more than $113 million.

TAGS: Metro East, municipal pensions, pensions, property taxes

Mundelein fire department dispute shows weight of growing pension costs

By Brendan Bakala

02/22/2018

Village officials are trying to control expenses by cutting staff as growing pension costs continue to gobble up local tax dollars.

TAGS: Illinois Labor Relations Board, municipal pensions, pensions, property taxes

Broken pension system puts Schaumburg taxpayers on the hook for bad investments

By Austin Berg

02/10/2018

The defined-benefit pension system threatens the retirement security of government workers, as well as the pocketbooks of overburdened taxpayers.

TAGS: 401(k), municipal pensions, pensions, schaumburg