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Worst of the Worst Funded at Less than 1/2% Prairie State Wire has ranked the 100 worst funded pensions in Illinois in an article that can be found here. Taxing districts in Cook County awarded 42 of 100 spots on … Continue reading
Category Archives: Pension
Annual Investment Return Estimates Not Included in Reporting The Prairie State Wire published an article on the Rankings of the 100 best funded pension systems. McHenry Township Firefighters should have no worries about fund solvency with funding at 515% of … Continue reading
A press release from State Senator Dan McConchie: McConchie: New, disturbing report demonstrates the dire need for pension reform in Illinois Springfield, IL… With Tuesday’s release of Fitch Ratings’ 2017 state pension report, State Sen. Dan McConchie (R-Hawthorn Woods) says … Continue reading
Further evidence that McHenry County Board Chairman Jack Franks cares nothing about eliminating IMRF pensions for countywide officials is the cancellation of tomorrow’s Human Relations Committee meeting. The first indication was that Franks introduced no bill to abolish such elected … Continue reading
The McHenry County Board tabled discussion on eliminating pensions for countywide elected officials without discussion from anyone except Chairman Jack Franks. No discussion. Just a hurried voice vote. But immediately after County Board member Mike Walkup gave an explanation of … Continue reading
Getting questions about how much Bob and Anna May Miller are receiving in pension payments from the Illinois Municipal Retirement Fund. The answer is Robert Miller retired effective 6/1/2017 with 44 years and 7 months of IMRF service credit. He … Continue reading
Former McHenry County Board member and District 6 candidate Ersel Schuster’s take-away from last Thursday’s Committee of the Whole meeting: Transparency? A very telling, and otherwise interesting bit of information surfaced during the 10/12/17 McHenry County Board’s Committee of the … Continue reading
A press release from McHenry County Board members Craig Wilcox, who is running for the GOP nomination for State Senate: Wilcox: Alternative Pension Solution More Binding McHENRY, IL – Retired Air Force Colonel and current McHenry County Board Member Craig … Continue reading
In an October 2, 2017, letter from Illinois Municipal Retirement Fund Executive Director Louis Kosiba, McHenry County Board Chairman Jack Franks is told that removing countywide elected officials is unconstitutional “It cannot be abrogated by a belief that a certain … Continue reading
In the Human Resources Committee this morning the most ballyhooed issue was one from McHenry County Board Chairman Jack Franks to eliminate pensions for those countywide officials specifically mentioned in the 1970 State Constitution. Franks proposal, of course, got coverage … Continue reading
v In another attempt to grab headlines, McHenry County Board Chairman Jack Franks has proposed a resolution to prevent current countywide elected officials from participating in the Illinois Municipal Retirement Fund pension program According to the Will County State’s Attorney’s … Continue reading
Appearing apparently from the head of McHenry County Board Chairman Jack Franks is a resolution for next Wednesday’s Human Resources Committee that would end pensions for all countywide officials. Franks certainly wants citizens to think that he led, whether he … Continue reading
Cary Grade School Board President Scott Coffey suggested looking at the Woodstock School District’s “Other Post Employment Benefit Costs” in a comment under Susan Handelsman’s cost-benefit analysis of keeping Clay Academy, a special education facility, open. I asked for an … Continue reading
A press release from State Rep. David McSweeney: McSweeney Pension Abuse Bill Now Law Springfield, IL – Legislation State Rep. David McSweeney (R-Barrington Hills) sponsored as a response to the Fox Lake scandal involving Lt. Charles Gliniewicz was signed into … Continue reading
Here’s a pension bill (House Bill 418) that Governor Bruce Rauner just signed. Amends the Downstate Police Article of the Illinois Pension Code. Provides that if a person who is receiving a police pension becomes employed as a chief of … Continue reading
It’s probably not a big surprise that most readers of newspapers–the paper ones–tend to be older than the average citizen. So, it was a surprise when the Daily Herald featured an article today about why taxing retirement income is a … Continue reading
Pensions bills are full of stuff that would not withstand the light of day. That’s why I voted against the vast majority of them. One of the things I noticed while reading some of them was that lobbyists were included. … Continue reading
Appearing on his web page is the following: Chicago Messes Its Bed, Then Asks Us To Clean It Up Posted on July 28, 2017 by Steve Reick The big issue in Springfield this week is the school funding bill, SB1, … Continue reading
Looking at former Algonquin Township Road Commissioner Bob Miller’s township American Express credit card statements is getting curiouser and curiouser (with apologies to Lewis Carroll). First it was an expensive purse found on a credit card statement attached to the … Continue reading
From Cary Elementary School District 26 Board President: Given the financial challenges facing D-155 over the next few years, it is imperative that the Board be led by those that will meet those challenges in a fiscally responsible manner. D-155, … Continue reading