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The city's recommended contribution is nearly three-fourths of the police department's current payroll. The city's situation is similar to towns all across the state. Illinois law controls the terms of police pensions.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
IMO if you are a registered Dem in Illinois and esp. Elmhurst they should increase your property taxes by say 50% to pay for these pension liabilities!!
Government does not work for the people, but the people work for the government.
Pensions are a cancer on your family’s standard of living. This is living proof of it.
Governmental pensions are a problem because they are not subject to the ERISA requirements regarding adequate funding, accurate estimation, and contribution and benefit limits. ERISA pension plans, while fading in number, still offer a good, predictable and reasonable source of retirement income. So don’t kill the pension idea, force the same financial controls the government forces upon the ERISA plans on the government plans as a starting effort.