Public Safety Pension Debt -- An Emerging Public Policy Problem

"Unfortunately, however, the pension systems for all Illinois municipal police and firefighters, even including Chicago, are not financially sound. Even more worrisome, their pensions are becoming less secure with each passing year. Illinois police officers and firefighters, especially the younger ones, ought to be worried about the fiscal health of their pension funds. As the nation learned when New York City went bankrupt in the 1970s, employee pension funds are not exempt from the negative changes that accompany municipal bankruptcy."

"Illinois Police Officers And Fire Fighters: How Good Are Their Pensions?"
James M. Banovetz and Dawn S. Peters
NIU Center for Governmental Studies

COGFA Publishes Report on Police and Fire Pension Funds
Posted on Tuesday January 12, 2010
The Commission on Governmental Forecasting and Accountability (COGFA) released an analysis of the fiscal health of 5 downstate and suburban police and 5 downstate and suburban fire fighter pension funds. The 105-page report is a result of the 2008 pension reform legislation introduced and championed by the Illinois Municipal League. The IML has provided a summary of the report. More

Taxpayer Contributions and Funded Ratios in COGFA Municipal Pension Report
Posted on Tuesday January 12, 2010
An analysis of the COGFA report on 10 downstate and suburban municipal police and fire fighter pension funds provides some critical data about the relationship between the funded ratio and employer (taxpayer) contributions into the funds. Specifically, the study demonstrates that each of the local governments included in the analysis experienced a decline in their funded ratio despite significant increases in the annual employer contribution. More

Updated Pension "Key Findings" for 2010
Posted on Monday March 08, 2010
The IML has updated our pension research to include an additional four years of data from the Illinois Department of Insurance. The health of the pension funds continues to deteriorate despite the allocation of additional financial resources. More

IML Pension Agenda for 2010
Posted on Tuesday February 09, 2010
The IML has been pursuing municipal public safety pension reforms for several years. A number of IML backed reforms have been enacted into law, however, municipal pension funds are suffering further financial deterioration. Additional bills are being pursued for changes to downstate and suburban municipal police and firefighter pension systems. More

COGFA Pension Study in the News
Posted on Tuesday January 12, 2010
The Illinois Commission on Governmental Forecasting and Accountability (COGFA) published a report on the financial condition of several municipal police and fire fighter pension funds. The report is generating attention in the media. The IML has provided links to the coverage. More

The IML Public Policy Pension Page is intended to serve as a leading resource to educate municipal officials, state leaders and the residents of Illinois' cities, villages and towns about the looming challenge to achieve and maintain financial stability within Illinois' municipal public safety pension funds. Achieving pension fund stability will also insure that scarce municipal budgetary resources are available to meet other important obligations of growing communities with diverse needs.