More than 70 Belleville-area school retirees are pension millionaires By Vincent Caruso 12/10/2018 Pension payouts collected by the Belleville area’s top-earning school retirees underscore the need to reform Illinois’ unaffordable pension system. TAGS: Belleville, Belleville School District 118, Belleville Township School District 201, municipal pensions, pension guarantee, pensions, property taxes, St. Clair County, taxes
Steel manufacturer shutters Illinois plant, takes 100 jobs to Indiana By Janelle Cammenga 12/08/2018 Alliance Steel Corp. will move 100 jobs to Gary, Indiana, with plans to add 30 more. TAGS: manufacturing, outmigration, property taxes, taxes, workers compensation
Carterville passes largest property tax hike in city history to pay for pensions By Vincent Caruso 12/06/2018 Pension costs now consume nearly 70 percent of the city’s annual property tax levy. It may not be enough. TAGS: municipal pensions, pension guarantee, pensions, property taxes, taxes
Chicago anticipated to be nation’s weakest major housing market in 2019 By Orphe Divounguy, Bryce Hill 12/06/2018 A study by realtor.com ranks the Chicago region’s housing market slowest of 100 U.S. metro areas for 2019. That stat could be fixed, or made worse. TAGS: Chicago, Cook County, home price index, housing, property taxes, taxes
Rock Island County hikes property taxes by nearly 12 percent By Janelle Cammenga 12/05/2018 County board members narrowly voted to hike the county’s property tax levy by nearly 12 percent to make up for a $500,000 shortfall. TAGS: property taxes, Rock Island County, taxes
Highland Park to hike property tax levy nearly $1M to pay for pensions 12/04/2018 Citing public safety pension costs, the city is expected to approve another increase to its property tax levy. TAGS: Highland Park, municipal pensions, pension guarantee, pensions, property taxes, taxes
Geneseo hikes property taxes by 10 percent to pay for pensions By Janelle Cammenga 11/30/2018 The city of Geneseo hiked its property tax levy by nearly 10 percent to pay for police pensions. TAGS: Geneseo, municipal pensions, pension guarantee, pensions, property taxes, taxes
Norridge hikes property taxes by more than 35 percent to pay for pensions By Vincent Caruso 11/27/2018 Pressured by police pension costs, Norridge trustees voted to hike the village’s property tax levy by more than 35 percent. TAGS: municipal pensions, Norridge, Norridge-Harwood Heights, pension guarantee, pensions, property taxes, taxes
More than 19,000 Illinois government retirees receive pensions over $100K By Janelle Cammenga 11/21/2018 The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career. TAGS: GARS: General Assembly Retirement System, IMRF: Illinois Municipal Retirement Fund, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System
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