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Peoria pensions causing police, fire layoffs as property tax hike sought

By Joe Barnas
12/15/2020
Emergency services have been cut in Peoria because public pension costs are growing. Voters will be asked whether a property tax hike should fix the problem.

TAGS: firefighter pensions, Peoria, police pensions, property tax

COVID-19 economic hit forces Peoria to cut 45 city jobs, offer buyouts

By Ben Szalinski
06/24/2020
Peoria’s financial problems grew critical from the coronavirus, but the long-term threat of pension debt will remain even after more severe cuts are made.

TAGS: coronavirus, COVID-19, Peoria, recession

Pritzker claims statewide economic growth, but these Illinois metro areas are shedding jobs

By Bryce Hill
02/10/2020
Despite Gov. J.B. Pritzker touting growth in “every major region,” Illinois shed jobs in three metropolitan areas and lagged the national average in seven more.

TAGS: Bloomington, BLS: Bureau of Labor Statistics, budget, Carbondale, Champaign, Chicago, constitutional amendment, economic competitiveness, economic growth, economics, economy, employment, fair tax, flat tax, government spending, graduated income tax, Great Recession, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, income growth, JB Pritzker, job creation, jobs, labor, Madison County, metro areas, Metro East, Moline, pensions, Peoria, population, progressive income tax, recession, Rockford, spending, spending cap, Springfield, St. Clair County, tax burden, tax hikes, tax increase, unemployment, Urbana, working-age

Peoria residents face new property tax fee devoted entirely to pensions

By Ben Szalinski
09/24/2019
The city of Peoria is adding a new fee to residents’ property tax bills to help shore up the city’s public safety pensions.

TAGS: fees, municipal pensions, pension guarantee, pensions, Peoria, taxes

Peoria cuts police and fire, moves toward new property fee to pay for pensions

By Adam Schuster
11/19/2018
The city of Peoria’s decision to eliminate 22 firefighter and 16 police positions came after 27 layoffs earlier this year. Both decisions and a proposed $50-$300 fee are because pension spending is crowding out services.

TAGS: municipal pensions, pension guarantee, pensions, Peoria, property taxes

Moody’s: Illinois pension debt-to-revenue ratio hits all-time high for any state

By Adam Schuster
08/31/2018
According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.

TAGS: bonds, credit rating, debt, employment, harvey, Moody's Investor Service, municipal pensions, pension guarantee, pensions, Peoria, taxes

Illinois’ Gordian knot: Pensions, insolvency and the ‘b word’

By Austin Berg
08/30/2018
If lawmakers continue to balk at building the tools necessary to reform pensions, bankruptcy will be the only way out for communities across the state.

TAGS: bankruptcy, harvey, municipal pensions, pension guarantee, pensions, Peoria

Crowding out: Pension pressure leads to layoffs in Peoria

By Adam Schuster
08/29/2018
The city of Peoria, Illinois sent layoff notices to 27 employees in an effort to fill a budget hole caused by growing pension costs.

TAGS: municipal pensions, pensions, Peoria, property taxes, taxes

20 municipal retirees in Peoria County are pension millionaires

08/16/2018
The average lifetime pension benefit among the county’s 20 highest-earning municipal retirees is more than $1.2 million, while their average total retirement contribution is less than $75,000.

TAGS: 401(k), municipal pensions, pensions, Peoria, property taxes, taxes

Chicago was the only major U.S. city to lose population from 2016 to 2017

By Austin Berg
05/23/2018
In a shrinking state, half of Illinois’ largest cities have shed population since 2010.

TAGS: Belleville, Chicago, Decatur, jobs, Metro East, outmigration, Peoria, population, Rockford, spending, spending cap, U.S. Census Bureau

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Budget + Tax / Research Report

Progressive tax could cost nearly $1,800 a year in home equity


Evidence from Connecticut suggests the progressive income tax could cost Illinois homeowners substantial equity in their homes.

View Report

Report Archive

Jobs + Growth / Your Story

Timothy Carroll

Jobs + Growth / Policy Point

Policy lessons from Illinois’ exodus of people and money

By J. Scott Moody, Wendy Warcholik
07/07/2014
Illinois Policy In the News

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students

By Ted Dabrowski
05/02/2016

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