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.
Bloomington City Council approved an ordinance that creates a mandatory business registry with a $50 entrance fee, in addition to hiking 100 permit and licensing fees.
The Chicago firefighters pension fund has filed claims with the Illinois comptroller for $3.3 million in shorted pension contributions, an action that could worsen city finances and service delivery.
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.
Seven former local officials across Rock Island County are taking home pensions in excess of $100,000 a year. And nearly a dozen have already collected $1 million over the course of their retirements.
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.