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Summary and audio linked here.
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
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Audio and summary
This is a “favorite son” bill for a few that harms many.This is designed for people who have maxed out on their pension benefits but who want to keep working. Their contributions will no longer be available to meet the obligations of the pension fund (as they are now) but instead are redirected to individual member accounts. The “DROP” benefit redirects employee contributions to the pension fund to a separate account that solely benefits the individual member who elects to participate in DROP. It requires payment of interest/earnings at the same rate fund assets receive; however, if the fund return… Read more »