East St. Louis and Illinois' Pension Intercept

Shrinking local tax revenues as a result of COVID-19 means hundreds of Illinois municipalities are likely to underfund their public safety pension plans this year. That’s sure to push many of the state’s 643 local pensions closer to insolvency. More than 200 of those plans were less than 50 percent funded even before the pandemic hit.

That may soon pit two sets of local government officials against each other: pension fund trustees who are responsible for keeping the funds healthy vs. city officials who've underfunded pensions so they can have enough cash to pay for their active public safety workers and other services.

Learn more – https://wirepoints.org/will-covid-19-lead-to-pension-intercepts-and-cuts-to-core-city-services-across-illinois-wirepoints-special-report/

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