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Archive for the ‘Pension Funding’ Category

BCFPD

The Barrington Countryside Fire Protection District (BCFPD) Board of Trustees has two meetings scheduled tonight beginning at 6:00 PM at 22222 N. Pepper Road in Lake Barrington. The first is a special meeting, and a copy of their agenda can be found here.

The second is their regular monthly meeting beginning at 6:30 PM. Topics on their agenda include:

  • Promotions Of Battalion Chief Erik Mandel, Captain Timothy Buhler, Captain Timothy Christenberry and Lieutenant Matthew Campbell
  • 2023 Tax Levy Discussion and Determination
  • Discussion On Entering into Memorandum of Understanding with The Long Grove Fire Protection District Regarding Utilization of a District Tender
  • Pierce/MacQueen Warranty Extension Proposal for E5
  • Presentation Of BCFPD Artifacts by Retired Assistant Chief Lenn Grant, and
  • Ambulance Bill

A copy of that agenda can be found here.

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11.16.23 BOT Graphic

11.16.23 BOT Audio

Our Village Board of Trustees will be conducting their regular monthly meeting this evening beginning at 6:30 PM. Topics on their agenda include:

  • ENGINEERING PRESENTATION – Trotter and Associates, Inc.
  • Levy and Assessment of Taxes for the Fiscal Year Beginning January 1, 2023 and Ending December 31, 2023 – Draft
  • [Vote] A Resolution Adopting a Regular Meeting Calendar for 2024 Resolution 2 23 –, and
  • [Vote] An Ordinance Regarding the Illinois Paid Leave For All Workers Act Ordinance 23 –

A copy of their agenda can be viewed and downloaded here.

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220 BOE 2324

The District 220 Board of Education meets this evening at 7:00 PM at the District Administration Center, 515 W. Main Street. Topics on their agenda include:

  • Informational Reports (Seen here)
  • Consideration to Approve Revised Personnel Report (Seen here)
  • Motion and Approval of Resolution Authorizing Social Media Litigation
  • Motion to Approve Professional Development for B. Altshuler, L. Collister-Lazzari, E. Chan Ding, and D. Clopto (Only?)
  • Changes to 2024-25 Academic Calendar
  • Framework 220
  • School Improvement (See here), and
  • Fine, Visual, and Performing Arts Discussion*

A copy of the agenda can be viewed here. The meeting will be live-streamed on the district YouTube channel.

* “District 220 Board plans to seek community feedback about new fine, visual & performing arts spaces at BHS

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VBH Entrance

Our Village Board of Trustees will be conducting their regular monthly meeting beginning at 6:30 PM. Topics on their agenda include:

  • [Vote] A Resolution Authorizing the Acceptance of a Quote for Repair of the Cement Driveway on the Grounds of the Village Hall for the Village of Barrington Hills Resolution 23 –
  • [Vote] Resolution Adopting the 2017 McHenry County Natural Hazards Mitigation Plan by the Village of Barrington Hills Resolution 23 –
  • [Vote] Remote Participation Rules (Primarily applies to Strauss and Hills)

A copy of their agenda can be viewed and downloaded here.

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BCFPD Photo

The Barrington Countryside Fire Protection District (BCFPD) Board of Trustees meets tonight at 6:30 PM at 22222 N. Pepper Road in Lake Barrington.  Topics on their agenda include:

  • Audit Review by Eccezion
  • Discussion and possible approval of Employee Longevity Pay Schedule proposal.
  • Discussion pertaining to 2023 Tax Levy
  • Resolution appointing Chief Motisi as Agent for IMRF for BCFPD, and
  • Discussion pertaining to Ambulance Bill

A copy of their agenda can be viewed here.

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MM RR

Illinois state Rep. Martin McLaughlin, R-Barrington Hills |BlueRoomStream

Illinois has seen an exodus of residents over the past several years. Some say the outmigration is contributing to the state’s growing pension problems.

Illinois currently spends about $10 billion a year on public pensions, and the state’s five systems have an unfunded liability of at least $140 billion. Some Illinois legislators are pushing for more funding for pensions while others have raised concerns of having Tier 2 employees hired after 2011 with fewer promised benefits paying more to support those employees in Tier 1 with more generous benefits.

A recent report from the American Legislative Exchange Council found each man, woman and child in Illinois is on the hook for about $37,000 to pay off public employee pensions, the second highest amount of all states after Alaska.

U.S. Census data shows nationwide, the median household income was $74,755 in 2022, down around 1% from the year before when adjusting for inflation. Illinois is one of 17 states to see its average inflation-adjusted household income decrease in 2022.

Other data from the U.S. Census on state-to-state migration released earlier this year shows that Illinois gained 4,000 residents from nine other states. But about 150,000 left for other states. That means 146,000 Illinoisans on net left in 2021.

Illinois state Rep. Martin McLaughlin, R-Barrington Hills, said the state pension systems suffer when people leave the state.

“We are having a smaller and smaller number of employees supporting the top, and that demographic structure itself is a big problem,” McLaughlin told The Center Square. “That’s not changing because the only way to change that is to grow Illinois’ population, grow Illinois businesses, grow Illinois employees, so they can support those at the top.”

Read more here.

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VBH Entrance

Our Village Board of Trustees will be conducting their regular monthly meeting beginning at 6:30 PM. Topics on their agenda include:

  • [Vote] A Resolution Authorizing the Execution of a Contract With Corrective Asphalt Materials LLC (CAM) For Pavement Rejuvenation and CRF Application on Select Village Maintained Roads Resolution 23 –
  • [Vote] Ordinance Amending the Village Code to Provide for Regulations Related to the Village’s System of Administrative Adjudication Ordinance 23 –
  • [Vote] An Ordinance Adopting by Reference of the Lake County Watershed Development Ordinance 23 –
  • [Vote] Resolution Honoring Barbara P. Hansen for her Contribution to the Village of Barrington Hills Resolution 23 –

A copy of their agenda can be viewed and downloaded here.

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McLaughlin

Illinois state Rep. Martin McLaughlin, R-Barrington Hills | Greg Bishop – The Center Square

(The Center Square) – A member of the Illinois House Personnel and Pensions Committee is suggesting lawmakers may need to look at other options if they hope to solve the state’s pension crisis.

Illinois currently spends more than $10 billion a year on public pensions, and the state’s five systems have an unfunded liability of at least $140 billion.

House Bill 4098, which has been the center of conversation during the House Personnel and Pensions Committee hearings over the past few months, would allow the Illinois Treasurer and Comptroller to transfer $500 million from the General Revenue Fund to the Pension Unfunded Liability Reduction Fund each fiscal year. Those funds would then be used to make payments into the state’s pension systems.

The committee’s chair, state Rep. Stephanie Kifowit, D-Oswego, said this is the right way to fix the pension crisis.

“This is the first time ever we have had a bill that discusses Tier 2 to this depth,” Kifowit told The Center Square in July. “This truly is momentum going in the right direction.”

Tier 2 pensions are for state employees hired after 2011. Stakeholders say the fewer benefits compared to Tier 1 are problematic and could run afoul of Social Security rules.

New to the House committee, state Rep. Martin McLaughlin, R-Barrington Hills, believes HB4098 goes after the taxpayers instead of addressing the unfunded liabilities.

“Twenty-eight percent of our budget now goes to pensions when most states are at 8%,” McLaughlin told The Center Square. “What is our solution? Move Tier 2 to Tier 1 and give them even more. So our solution is to go after the taxpayers’ wallet.”

Private pensions restructured their pensions years ago, an approach McLaughlin said legislators should consider but won’t.

“They restructured their pensions 10 or 15 years ago. They restructured them because they knew they were going to make sure they were going to get paid is to keep underlying business solvent,” McLaughlin said. “The public pension plans have never, and they will not allow that negotiation to take place. Their job [pension fund stakeholders] is to make sure we can stay solvent, and the only way they believe they can solve it is to constantly tax us. That is a recipe for disaster, which is why everyone is leaving the state.”

Read more here.

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Stantis Flag Ideas

Chicago Tribune editorial cartoonist Scott Stantis’ ideas for a new Illinois flag design. (Scott Stantis/For the Chicago Tribune)

The state is poised to consider designing a new state flag now that the governor has signed legislation to create the Illinois Flag Commission.

With inspiration from a resident, state Sen. Doris Turner, D-Springfield, sponsored Senate Bill 1818, which drew bipartisan support. Gov. J.B. Pritzker signed the bill this month, and now 21 members are being selected to decide whether to update a simple flag from 1915. Once approved, the public will get to share its vision for a new state flag.

“It’s an opportunity for people to learn more about Illinois and put our best foot forward,” Turner told The Center Square.

As flag fever hits several states in the U.S., Turner said that Utah had a huge response to its flag design initiative with about 7,000 proposals and more than 44,000 public comments.

“That just shows you the type of excitement that an exercise like this can really generate,” she said.

Turner predicts a similar response in Illinois with the opportunity for all ages to reflect on the essence of the state. Today’s flag saw a change in 1970 when the name Illinois was added, but the rest reflects the state seal with an eagle grasping a banner.

“The way I look at it is that the state seal belongs to the state. The flag belongs to the people,” she said.

Rather than share her own views on a design, Turner prefers to see what residents are thinking.

“I’m looking at this with a very, very, very open mind, and I’m excited to see what comes through,” she said.

Read more here.

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johnson

The city of Chicago faces a pension crisis, heightened crime and a failing public school system. New Mayor Brandon Johnson has taken no concrete steps to deal with any of it.

When Chicago Mayor Brandon Johnson took office on May 15, he inherited numerous challenges plaguing the city.

According to a survey conducted by Echelon Insights on behalf of the Illinois Policy Institute in February, 75% of Chicagoans were dissatisfied with public safety, with 60% dissatisfied with affordability in the city. Just 33% of Chicagoans were satisfied with public education in the city.

Johnson has had 100 days to begin addressing these issues. To date, he hasn’t started seriously tackling any of it.

Crime

  • Overall crime is up 39% this year.
  • Violence against, and committed by, school-age youth has seen historic increases since COVID-19. The University of Chicago’s Crime Lab just reported a 50% increase in murders of youth 17 years and younger since 2019.

Finances

  • Chicago is facing a projected budget shortfall of between $306 million and $951 million for 2024.
  • Debt service and pension contributions now make up 42% of the city budget, crowding out services.

Read the full 100-day review here.

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