Pension Debt: Reserve the UHaul now

By:  Diane Benjamin

Bloomington has finally posted the 4/30/19 financial statement.

OPEB = Other Post Employment Benefits

Both Bloomington and Normal are in more debt now because of pensions and OPEB.

Bloomington has almost $231,000,000 in long term debt and growing

Normal has more than $186,000,000 in long term debt and growing.

Illinois isn’t even included, keep in mind they refuse to fix the pension mess.

Those who stay will be paying higher taxes.

Bloomington:

https://www.cityblm.org/home/showdocument?id=23337

PDF page 31:

bloom pensions

All the additional debt is for employee benefits.

Normal:

https://normal.org/DocumentCenter/View/15625/CAFR19-FINAL-DOC

PDF page 83

normal debt

Note the balance at the beginning of the year and the end.  Very little bond debt was paid, the new debt is all from employee benefits.

6 thoughts on “Pension Debt: Reserve the UHaul now

  1. Eventually, those pensions will be completely unsustainable and those folks will not get paid at all. Just like social security,,,the whole thing has been manipulated ripped off and now the system is broke.

    Liked by 3 people

    1. Remember Enron? These state and city pensioners,,,just,,,don’t,,,get,,,it. Keep voting for the same old, same old demonrats that are the worst of the worst that have set you up, let you get comfortable, and will knock you down. Those who betray never stop.

      Liked by 1 person

  2. Just back from a trip WEST, and talked to some friends in Real Estate etc. They told me that EVERY WEEK they have a person/couple/family from Illinois contact them about property to move to. Didn’t REALLY believe it UNTIL, WE were at the tourist visitors center at Hannibal, MO. and the people there told us there isn’t a week goes by that they don’t have someone from IL contact them for realtor information. While we were there a couple who had JUST come from IL was complaining about the roads and HAPPY to be OUT of that state!
    Sound like quality of life??
    Pay attention Tari, council and politicans..

    Liked by 1 person

  3. As I was driving back from a work assignment in South Dakota I had the chance to reflect on the stupidity of JB and Illinois democrats. The glass like surfaces of the roads in South Dakota and Iowa (with the exception of about 20 miles of road construction which were still smoother than Illinois roads) roads that are supported by 30 cents a gallon in state taxes, I wondered why Illinois can ‘t be the same at 55 cents a gallon, or in Bloomington 63 cents (thanks taxing/lying Tari), Then I realized there the money actually got spent on roads and not crap like Connect Transit, BCPA, the Coliseum,
    As I filled up as much as I could at $2.24 a gallon before entering Illinois to be blessed by Illinois across the river at 2.49 again I gave thanks to JB.
    Then I remembered another liar in the democratic past. He promised to spend a trillion dollars to fix the infrastructure with shovel ready jobs. Perhaps if he told the truth maybe roads here would not be so bad. Then I realized the only thing they fixed with the trillion is paying off unions, and election supporters of their cause. Of course that included giving great unsustainable;e pensions. The commercial of Prickster and Madigan being wedded was right on target as I pronounce Illinois citizens Fu**ed.

    Liked by 1 person

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