Ted talked with Perri Small of WVON Radio on Wednesday about Harvey’s lack of options. It’s trapped by the one-size-fits-all state laws that rob every Illinois municipality of local control.
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Harvey, the first domino in Illinois: Data shows 400 other pension funds could trigger garnishment
Danville is another municipality struggling to survive with state laws weighing it down.
Hopefully, all media will get the message, in Illinois, too.
Ted joined Tom Miller of WJPF to talk about Illinois’ highest-in-the-nation property taxes, why lawmakers don’t want to touch the tax’s cost drivers, just how much Illinoisans’ tax burden has grown over the decades, why Gov. Pritzker failed to meet his promise to reform property taxes, and more.
Illinois’ dismal education numbers – especially for minority students – are embarrassing to politicians and officials. But rather than admit there’s a problem with Illinois’ education system, they attack the state’s own standards for being “too high,” instead.
Ted joined Dan and Amy to talk about the free speech controversy brewing in Wilmette due to the city’s refusal to fly a religious freedom flag, the city’s left-wing excesses and the growing culture war, the latest money spent on the illegal immigrant crisis, and more.
Weekly crime statistics from the Chicago Police Department: Report through 4/14/2024.
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If I was a property owner here, I’d arrange it so I paid my mortgage and interest, but skip paying any property taxes until they get a financially stable way forward.
But since most of these are lower socio-economic households, they are most likely paying to a mortgage service company and that company will pay the taxes rather than see the house go into foreclosure. White privilege showing.
A caller to the taped radio show segment mentioned that the Harvey Public Library is proposing to cut back its hours of service. The Harvey Public Library participates in the IMRF pension fund and is not part of the City but a standalone property taxing district. They City of Harvey participates in IMRF, and has a Downstate Police and a Downstate Fire Pension Fund. But what other public sector pension funds are Harvey property taxpayers and income taxpayers responsible for? First on the list is the Harvey Park District (IMRF). Next are public schools. In addition to TRS, most public… Read more »
Correction.
ECHO, the local special education district, does participate in IMRF.
fantastically depressing, thank you!
Here is another obvious addition to the list of units of government in Harvey with public sector pensions. The township unit of government. Thornton Township and Bremen Township contain parts of Harvey and both participate in IMRF. To clarify, and this applies to only certain townships in Cook County, there is a distinction between a township unit of government, and the Township Township School Treasurer. The Township School Treasurer is separate and distinct from the Township. The Township School Treasurer performs the treasury function (including investments) for a group of local school districts. And here’s another correction. The Bremen Township… Read more »
Here is another addition to the list of governments in Harvey with public sector pensions. The South Cook County Mosquito Abatement District has its own pension plan. “”The South Cook County Mosquito Abatement District Restated Pension Plan (the “Plan”) is a single-employer governmental plan as defined in Internal Revenue Code Section 414(d).”” http://www.govwiki.info/pdfs/Special%20District/IL%20South%20Cook%20Mosquito%20Abatement%20District%202015.pdf The pension is 71% funded as of 2017 per the Cook County Treasurer website. Per the 2017 Actuarial Valuation Report: “Funding Policy contributions (Annual Required Contributions) were developed based upon an interest assumption of 3.75% and a 25 year amortization of unfunded actuarial accrued liabilities.” “Employee Contributions”… Read more »