Springfield city budget shows future pension concerns, officials say – WICS (Springfield)

In order to meet the 2040 requirement of getting up to 90%, the city would have to find other ways to get the money. They said this could be through sales and income taxes.
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Poor Taxpayer
3 years ago

If you own a house take out a huge mortgage and do not pay any property taxes ever. You can put off foreclosure for a long time. Then leave the state and give it the one finger salute.
House values are going to fall big time as Shitfield taxes away the equity.

Pensions Paid First
3 years ago

They need to add more money into the funds. At least they acknowledge the issue.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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