By: Diane Benjamin The below information is from the Illinois Comptroller website: https://tinyurl.com/w25h7sk9 Start with the Total OPEB Liability. In TWO years it increased 42.86%. What is OPEB? Other Post Employment Benefits, in other word promises to retired employees other than a pension. The Town of Normal pays these costs as incurred. Unlike the private […]
By: Diane Benjamin I’ve written many stories about the Illinois Municipal League. This organization works for cities, not the people paying their bills. This is their latest plan: It all sounds wonderful until you look at the facts. All of these funding numbers come from the Comptroller’s website, the latest numbers for Bloomington and Normal […]
By: Diane Benjamin “One of the best-funded pension plans in the country is the nearly 90 percent funded Illinois Municipal Retirement Fund, which has long had the ability to enforce payments into the plan.” IMRF funding isn’t a problem. That’s why pension spiking penalties were enacted, the fund couldn’t afford to pay pensions for employees […]
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 […]
By: Diane Benjamin As of 3/31/17 PDF page 41: http://www.normal.org/DocumentCenter/View/12750 Yes the citizens still owe $87,783,723 for Koos’s Uptown dreams. Police pensions are only 51.76% funded (PDF Page 129) Fire pensions are only 55.53% funded (PDF Page 130) That is why citizens are on the hook for $56,106.352 just for these two pension funds. Obviously the guys […]
