Suffredin- Changing County Government  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
  Cook County was created on January 15, 1831 and named after Daniel P. Cook, Member of Congress and the first Attorney from the State of Illinois.
   
     
     
     



Study: Local Government Pension Debt At More Than $27 Billion

Monday, June 25, 2012

CHICAGO (CBS) — The Chicago area’s pension programs for government employees are underfunded by a whopping $27.4 billion, according to a new report from a local watchdog group.

The Civic Federation says several factors contribute to the massive problem.

“For years the local governments were contributing less than the actuaries report is the cost of the program,” explained Civic Federation President Laurence Msall.

Other factors: “Like everyone else involved in the stock market, the pension funds saw loss of investments over the last few years,” he said.

Msall also said the ratio of working government employees to pension beneficiaries is heading in the wrong direction.

“We have more people taking out of the pension programs, and less people paying into them,” he said.

Msall said the annual study looked at 10 pension programs, affecting 123,000 employees and 100,000 retirees, including the city of Chicago, Cook County government, Chicago Public Schools, Chicago Park District, Chicago Transit Authority, Cook County Forest Preserve District, and Metropolitan Water Reclamation District of Greater Chicago.

The report presents several solutions to help the mayor, county board president, union leaders, and lawmakers stabilize the pension program.

“We also have to get real in terms of reducing the cost of these programs, even with the benefit changes reducing the automatic increase,” Msall said.

He explained employees who’ve been retired for a year automatically receive a compounded three-percent annual increase — which, over 17 years, can double a retirement benefit.

“That has an enormous cost,” he said.

Msall also said Gov. Pat Quinn’s proposal to increase the retirement age to 67 and require state employees to contribute more to their pensions are also part of the solution — and the group is calling on elected officials and unions to take action.



Recent Headlines

Preteens out of detention before trial under new ordinance
Friday, September 14, 2018
Chicago Daily Law Bulletin

Cook County Board bars detention of youth under 13 years old
Thursday, September 13, 2018
Injustice Watch

Preteens accused of crimes won't be locked up at Cook County juvenile center
Thursday, September 13, 2018
Chicago Sun-Times

Slowik: Cook County offers residents last chance to comment on strategic plan
Thursday, September 13, 2018
Daily Southtown

Settlement over Cook County's 2007 decision to cut inmates' dental care will cost nearly $5.3 million
Wednesday, September 12, 2018
Chicago Tribune

Anti-patronage Shakman pact requiring federal oversight of Cook County hiring, firing to end
Friday, August 31, 2018
Chicago Tribune

1st District upholds merit board in firing of deputy
Thursday, August 30, 2018
Chicago Daily Law Bulletin

Neighborhood program helps Cook County residents buy homes
Sunday, August 26, 2018
Chicago Sun-Times

Judge upholds Cook County firearm, ammunition taxes
Thursday, August 23, 2018
Chicago Daily Law Bulletin

Editorial: E-filing should make Cook County courts more accessible. It doesn't
Wednesday, August 22, 2018
Chicago Tribune

Cook County tax incentive could pave way for Wingstop, Dunkin' Donuts on Elgin's Summit Street
Tuesday, August 21, 2018
Chicago Tribune

Editorial: What happened to the elk?
Friday, August 10, 2018
Chicago Tribune

Wells Fargo to offer $15,000 grants to potential Cook County homebuyers
Thursday, August 09, 2018
Chicago Tribune

Suit alleges Cook County detainees secretly monitored in bathrooms in holding cells at courthouses
Wednesday, August 08, 2018
Chicago Tribune

Half the elk at Busse Woods died last year, and officials aren’t sure why
Tuesday, August 07, 2018
Chicago Tribune

A letter from Dr. Jay Shannon regarding gun violence and Stroger Hospital
Tuesday, August 07, 2018
Special to suffredin.org

As Evanston adapts to minimum wage hike, nearby towns say they have no plan to join in
Tuesday, August 07, 2018
Chicago Tribune

Lawsuit could blast a $250 million hole in county budget
Monday, August 06, 2018
Crain's Chicago Business

Pappas: Automatic refunds of $19.5 million going to 53,000 homeowners because of property tax cuts
Monday, August 06, 2018
Special to suffredin.org

Thousands of Cook County homeowners to receive property tax refunds
Monday, August 06, 2018
Chicago Sun-Times

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP