Some might assert that another domino — or two — has fallen, while others reply they don’t want to hear about it.
There were two more pension setbacks last week, this time associated with local communities’ often underfunded fire and police pensions. Slowly, the noose is tightening around the necks of taxpayers and public officials statewide, proving once again that ignoring pension woes won’t cause them to go away but, instead, to get worse.
For starters, the city of Peoria, being crushed under the pension costs for firefighters and police officers that are eating up virtually all of its property tax levy, passed a special three-year tax to raise money to cover pension costs. It’s akin to similar action taken in Danville.