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October 22, 2014, 10:20 am
970 WMAY News

Aldermen Criticize Report Putting City on Top of Worst Funded Pensions

A report putting the City of Springfield on the top of a list of Illinois cities outside of Chicago as having the worst funded pensions is being characterized as inaccurate and biased.


Alderman Joe McMenamin, who has long urged for the city to address the unfunded pension issue, featured a report from the Illinois Policy Institute during the committee of the whole Tuesday.


The report claims that Springfield taxpayers pay 4 times more for worker pensions than workers do and that all the property tax the city collects goes towards pensions.


Budget Director Bill McCarty says the report is skewed because it includes numbers from City Water Light and Power, which is not part of the corporate fund. Several other aldermen also questioned why the report didn’t go through the Mayor’s office first.


McMenamin says that the city needed to hear an outside voice on the pension issue.

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