S31 E09: Pension Costs & The Financial Crunch on Cities
Season 31 Episode 9 | 26m 12s | Video has closed captioning.
Illinois sets pension benefit levels for municipal police and fire retirees, but the cities must pay those benefits. Those costs are increasing at what mayors call unsustainable rates. The increases, earlier retirements and longer life spans put a strain on municipal budgets. The mayor of Peoria and city managers of Galesburg, Normal and Peoria discuss new lobbying efforts to lessen pension costs.
Aired: 09/06/18
