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.

 

Click here to read more:

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.

 

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2 years ago

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.

char sui
2 years ago
Reply to  Jeff Carter

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.

Mike
2 years ago

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 »

Mike
2 years ago
Reply to  Mike

Correction.

ECHO, the local special education district, does participate in IMRF.

NB-Chicago
2 years ago
Reply to  Mike

fantastically depressing, thank you!

Mike
2 years ago
Reply to  Mike

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 »

Mike
2 years ago
Reply to  Mike

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 »