SPRINGFIELD, Ill. — A political fight over pension consolidation is brewing ahead of the fall veto session in Springfield.
Governor J.B. Pritzker wants lawmakers to combine 649 local police and fire pension funds into two state-wide funds. The idea is this will save the state money and increase returns.
The head of the Illinois Municipal League says the current system is forcing Illinois mayors to sell off city assets, cut services, and raise taxes.
“When they are willing to sell their assets because they have this cloud hanging over them, its because they are desperate. When you see them raising their property taxes every year, its because they are desperate. When you see them cutting services and eliminating positions of employment, it is because they are desperate. Why do we keep telling them you are on your own. Why don’t we come in and say, ‘lets put it together, lets help everyone. Let’s cut your cost.’”Brad Cole, Illinois Municipal League
To see this interview watch Capitol Connection Sunday at 9 a.m. on WMBD.