Opinion: Municipal pensions are not the problem – Crain’s*

Municipal Tier Two pensions include local police officers, firefighters and municipal employees. These pension systems differ substantially from the state's pensions, which include the teachers and state employees. Unlike the state pension systems, the municipal pension systems already meet or exceed federal safe harbor standards for the Social Security exemption. Consequently, legislative action should be targeted to account for the nuances of Illinois' complex pension landscape. As the state and municipal pensions are distinct systems, reforms to Tier Two should also be distinct to protect taxpayers from paying the price of unnecessary changes. Tier Two issues within the state systems should be addressed, but not at the cost of upending the fiscally sound municipal pension funds.