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Pension Intercept Requested for East St. Louis Firefighters’ Fund

For the third time since enactment of the Illinois pension intercept law, a municipal employee pension board seeks to have city monies redirected to replenish long-neglected funds. This time, the East St. Louis Firefighters Pension Fund asks state Comptroller Susana Mendoza to intercept more than $2 million originally slated for the city’s budget. A January Read More

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Chicago Police and Fire Pension Trustees Seek to Intercept Funds

For years, local governments in Illinois have had trouble balancing their budgets. Several struggling local governments have either failed to make public pension fund contributions, or paid far less than what they owe. The shortfall creates financial problems for the police and firefighter pension funds, and may threaten the livelihoods of retirees. Until recently, police Read More

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