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

By Vincent Caruso

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

Illinois’ metro areas shed 3,600 jobs in March

By Bryce Hill

04/30/2018

Seven metro areas across the state lost jobs over the month.

TAGS: Bloomington, Champaign, decatur, Elgin, IDES: Illinois Department of Employment Security, jobs, labor force participation rate, peoria, quad cities, rockford, Springfield, unemployment

Wave of local tax and fee increases sweeping Illinois

By Brendan Bakala

10/16/2017

Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast-food restaurant to catching up on rising pension costs.

TAGS: Bloomington, consolidation, fees, local government, local government consolidation, municipal pensions, naperville, New Lenox, Oswego, pensions, peoria, property taxes, sales tax, taxes, TIF: Tax Increment Financing, Wheaton

More than 250 Peoria city employees receive over $150K in compensation

By Brendan Bakala

09/12/2017

Lucrative compensation for government workers stands in stark contrast to the city’s budgetary struggles and a flagging local economy.

TAGS: local government, municipal government, pensions, peoria, property taxes

Chicago only major U.S. city to lose population from 2015 to 2016

By Michael Lucci

05/25/2017

While major headlines broke over news that Chicago was the only one of America’s largest 20 cities to shrink from July 2015 to July 2016, most of Illinois’ other cities with 50,000 people or more also lost population.

TAGS: Berwyn, Champaign, Chicago, Cicero, decatur, Oak Park, outmigration, peoria, population, U.S. Census Bureau