pension consolidation

Mary Hansen / NPR Illinois | 91.9 UIS

Many cities across Illinois are struggling to meet required police and fire pension payments. In Springfield, every dollar homeowners pay in real estate taxes goes right back out to cover that cost. Next year, as payments grow, the city needs to come up with an additional $1.5 million dollars.

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Brian Mackey / NPR Illinois

After four decades in the legislature, Senate President John Cullerton announced he'll retire in January. Meanwhile, Chicago Mayor Lori Lightfoot spent a day lobbying in the Capitol, but came away empty handed. And lawmakers approved measures intended to improve the fiscal future of police and fire department pensions.

Blue Room Stream

Illinois lawmakers Wednesday advanced a plan to pool more than 650 downstate and suburban police and fire pension funds. Passing the measure out of both chambers by week’s end is a top priority for Governor J.B. Pritzker.

Pritzker’s office has been arguing for weeks that combining all of those funds would make more money for retired police and firefighters, while cutting fees and reducing the need to raise local property taxes.

Brian Mackey / NPR Illinois 91.9 FM

The second and final week of the Illinois legislature’s fall veto session begins Tuesday. State lawmakers will have just three days to get a number of proposals — big and small — over as many legislative hurdles as possible.


Pictures of Money / via Flickr CC BY 2.0

State lawmakers are now formally considering legislation to pool the resources of nearly 650 local Illinois police and fire department pension funds.