Your property taxes pay for government workers’ guaranteed salaries, benefits and pensions while you get no such guarantees – Wirepoints on with Jeff Daly of WZUS Decatur Radio
Ted joined Jeff Daly to discuss why Illinois’ property taxes are such a national outlier, why Illinoisans are forced to pay the high, guaranteed salaries, benefits and pensions of the government class, why Illinoisans aren’t getting their money’s worth for what they pay, the teachers unions’ influence over elections, and more.
Pension Plan – Discount Rate – Net Pension Liability (Unfunded Liability) – Percent Funded.
IMRF & IMRF SLEP, Oak Park allocation – 7.49% – 8,502,275 – 92%.
Oak Park Downstate Police – 6.75% – $82,300,309 – 50%.
Oak Park Downstate Fire – 6.75% – $75,026,514 – 37%.
Total – $165,829,198.
Only one employee is in IMRF SLEP.
IMRF is a multi-employer pension plan.
Downstate Police and Downstate Fire are single employer pension plans.
source: Oak Park CAFR, FY ending 12/31/2015.