Downstate Police and Fire pension benefits were cut in 2010 for anyone hired after January 1, 2011. Part of that bill requires that city’s start paying what they are supposed to in 2016 – So now what are the cities doing after underfunding our pension funds for decades? Trying to get out of paying what they owe, of course!
From the article –
“While some officials question levels of worker benefits, union officials cite recent compromises and blame cities for bad choices in shirking payments.
“Our view is that we’ve already done our part in terms of pension benefit reductions,” said Sean Smoot, director of the Police Benevolent and Protective Association. “While employees pay their mandatory required contributions, for many years employers (did) not.””
Illinois’ next pension issue: Police, fire funds
(AP) “After addressing Illinois’ own employee pension crisis, lawmakers now face an equally challenging task with the state’s cities, as mayors demand help with underfunded police and firefighter pensions before the growing cost “chokes” budgets…