Monmouth is a town of about 9,500 in northwestern Illinois. It has already slashed its general fund by about half over the last decade, and is looking at a property tax increase of nearly 10% for the second year in a row, all while its pension situation worsens further.

Comment: It’s most recent CAFR shows its police and fire pensions are just 50% and 39% funded, and those numbers have declined rapidly over the last ten years.