IMRF should not be used as a model for Chicago

By Benjamin VanMetre
A key tenet of the current Chicago pension reform proposal, which is headed to Gov. Quinn’s desk, is an Illinois Municipal Retirement Fund-style funding mechanism that seeks to guarantee that pension payments are made to Chicago’s funds each year. The mechanism allows the state to divert millions of dollars away from the city and into Chicago pension...

TAGS: IMRF: Illinois Municipal Retirement Fund

Decatur’s out-of-control pension costs

Our recent comprehensive report, “The crisis hits home: Illinois’ local pension problem,” reviewed the fiscal health of Illinois’ 114 largest cities to measure the impact of pension costs on taxpayers, city services and the security of city-worker pensions. Decatur received one of the lowest scores as a result of out-of-control pension costs. Here’s why: Taxpayers...

TAGS: decatur, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pensions

Naperville considers pension double-dipping transparency reform

By Brian Costin
Most public employees in Illinois receive a single pension upon retirement. But some workers don’t just get one pension – they get two or three. This is made possible by either working multiple government jobs at the same time, or retiring from one public job and beginning a second within a different pension system. Both...

TAGS: IMRF: Illinois Municipal Retirement Fund, naperville, pensions, Social Security, transparency, TRS: Teachers’ Retirement System