While sick leave is necessary for working teachers, letting unpaid sick leave accumulate for the purpose of boosting pensions is an expensive perk that taxpayers cannot afford.View Report
Illinois’ pension laws are forcing the city of Harvey to pay its creditors through short-term negotiated agreements just to meet payroll.
Illinois’ fiscal year 2019 spending plan includes reforms to discourage some irresponsible spending by local governments.
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.
A criminal sexual assault conviction will not interfere with a retired suburban deputy police chief’s $84,000 annual pension.
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.
Police, firemen and other government workers will be laid off to cover pension costs.
The ruling will likely mean higher taxes for Chicagoans.
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.
Village officials are trying to control expenses by cutting staff as growing pension costs continue to gobble up local tax dollars.
The defined-benefit pension system threatens the retirement security of government workers, as well as the pocketbooks of overburdened taxpayers.