Illinois Municipal Retirement Fund
Recent News About Illinois Municipal Retirement Fund
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Analysis: Illinois Municipal Retirement Fund would go bankrupt in 10 years without taxpayer subsidy
Without members and taxpayers subsidizing its revenue, the Illinois Municipal Retirement Fund would have lost $3,767,711,758 in 2018, according to a McHenry Times analysis of the latest data reported to the Illinois Department of Insurance Pension Division.
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Senate passes Rep. McSweeney-sponsored bill
State Rep. David McSweeney (R-Barrington Hills) expressed his gratitude following the Illinois Senate’s bipartisan approval of a measure he sponsored that will add sick days to the requirements of publicly disclosed payouts for certain Illinois Municipal Retirement Fund employees.
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From Prairie State Wire
Spain proposal would consolidate police, fire pension funds
Declining asset to accountability ratios, employer contributions and skyrocketing unfunded liability could be alleviated by consolidating downstate police and firefighter pension funds, according to Rep. Ryan Spain (R-Peoria).
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Rankings: 100 best funded pensions in Illinois
McHenry, Huntley and Spring Grove have government pension funds with the highest funding levels in Illinois, according to the Illinois Department of Insurance.
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Outgoing Algonquin road commissioner takes home $47K in sick leave
Bob Miller, outgoing Algonquin Township highway commissioner, slapped the administration with a parting gift — a bill for more than $47,000 in unused sick leave, according to the McHenry County Blog.
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$999 million out, $90 million in: Chicago pension funds see the abyss, shrug it off
In 2015, the City of Chicago’s two employee pension funds paid out $999 million to 29,286 retirees.
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Algonquin Township’s Miller contributed $102K to pension, could collect more than $3 million
Over 45 years on the Algonquin Township payroll, Highway Commissioner Robert Miller contributed just more than $100,000 into his pension.
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Woodstock City Council to consider auditing services contract
The Woodstock City Council will discuss a report from City Manager Roscoe Stelford outlining several items on the agenda for the council meeting at 7 p.m. Tuesday.