Gov. J.B. Pritzker’s municipal pension consolidation plan hits a snag – Chicago Tribune

Illinois Municipal League Executive Director Brad Cole contends the amendment would shut out municipal governments from intervening in benefit allocation proceedings at the local level. In cases where benefits are abused, that could lead to a greater burden on their budgets and taxpayers, he said. Cole called language that was introduced Monday a “midnight provision that penalizes the taxpayer, the person we’re trying to support.” He said he communicated his stance to Pritzker earlier Tuesday that he described as “unwavering.”

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US stock markets up 200%, yet Illinois pension hole deepens 75%

Despite a tripling in the value of the S&P 500 index since July 2009, Illinois’ pension shortfall has worsened by 75 percent during the same period. The warning this trend provides is stark: if pension debts in Illinois continue to grow during a period of remarkable stock market returns, imagine how those funds will fare when the next recession inevitably hits.

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