By: Diane Benjamin
Tari Renner was on WJBC this morning with Scott Laughlin. Scott asked Tari about pension funding.
Tari had to mention the pension funding award he accepted several years ago. Pension funding was neglected for many years so Bloomington could do fun stuff like the BCPA and the Coliseum. When Tari was elected the first time, the Council did pass millions more in funding and they raised taxes to pay for it. Other spending can never be cut, it always requires new revenue sources for new spending. (Just like your personal budget!)
I guess Tari missed yesterday’s story: https://blnnews.com/2018/05/15/epidemic-of-at-risk-kids/
Even with millions more going into pensions, the percent funded isn’t increasing. Tari claimed this morning the pensions will be funded 100% by 2040.
Does he not see facts? Funding levels are not increasing:
See this link: Prior year funding levels – Warehouse
Fire pension Funding:
2013 – 53.3%
2012 – 51.4%
2011 – 51.4%
Police pension Funding:
2013 – 51.7%
2011 – 58.2%
Tari? Tari? Facts matter, your massive increase in pensions funding will not guarantee any pensions in the future – PERCENTS are going down!
As of 4/30/17 Bloomington had a Fire pension obligation of $59,397,278
As of 4/30/17 Bloomington had a Police pension obligation of $66,314,753
Tari claimed Bloomington is leading the State in pension funding. If that is true, Illinois is more than doomed – so is your wallet and any police and firemen who think they will collect for decades of retirement.