“Multiple cities in Illinois are forced to cut police, fire departments and other city services to fund pension plans”

MISH TALK
Bankrupt Illinois Cities Forced To Cut Services To Fund Pensions
by Mish
September 19, 2019

Municipal leaders across Illinois need to demand the following if they want their cities to survive Illinois’ collective crisis: 1) An amendment to the constitution’s pension protection clause so pensions can be reformed and workers’ retirement security saved; 2) The ability to convert pensions to defined contribution plans for workers going forward; 3)A freeze on retirees’ cost-of-living adjustments until pension plans return to health; 4) Public sector collective bargaining reforms so officials can hold the line on new labor contracts,..The troubles brewing in Illinois are all happening during one of the longest economic expansions ever. When the economy and the stock markets inevitably correct, things will only get worse. READ MORE

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