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Mayors Call For Pension Reform

Mayors all across the state are chiming in and calling on lawmakers to reform local pension systems.  The Pension Fairness for Illinois Communities Coalition, made up of Illinois municipalities and business leaders, wants to curb increases in police and fire pension obligations that local communities must cover through property taxes.  In Danville, half of the city's property tax collections went toward paying down police and fire pensions this year.  The group is committed to working with Chicago Mayor Rahm Emanuel on lobbying state lawmakers to approve reforms in the upcoming fall veto session, especially as many municipalities are crafting their 2013 budgets.  Many of those budgets may include property tax increases or additional service cuts to cover pension shortfalls.  Members of the PFICC say failing to address the unfunded liabilities will inevitably cost local residents throughout the state.

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