The Democratic nominee in the Cook County assessor’s race is voicing support for a ban on city aldermen doubling as property tax appeals attorneys, an arrangement that encourages conflicts of interest.
Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.
While often regarded as a duplicative and unnecessary unit of government, former township employees in Illinois have banked more than $273 million in pension benefits since 1998.
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.
Active Des Plaines Park District pensioners – including two pension millionaires – have put taxpayers on the hook for more than $7.6 million in pension payouts since 1996.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.