Raise Taxes or Cut Services? Public Pension At Issue
Here's a notice from the City of Lake Forest regarding public pension funding, an issue that will impact tax payers and which will appear as a public advisory question on the ballot for the Feb. 2 General Primary Election:
The City of Lake Forest supports its police and fire professionals, and preserving public safety is of paramount concern. Like many communities across the state, however, Lake Forest has experienced an exponential increase in required contributions to fund public pensions. This statewide situation threatens the long-term sustainability of the pension funds in the absence of significant new revenues or reductions in services.
Without legislative relief, Lake Forest and many other communities are faced with complex choices, including budget cuts, deferred infrastructure improvements, or an increased burden on taxpayers to fund these pension benefits.
At its Nov. 16 meeting, the Lake Forest City Council approved a resolution to place the following public advisory question on the Feb. 2, 2010, General Primary Election ballot:
“Shall the Illinois General Assembly and the Governor take immediate steps
to implement meaningful pension reform which will relieve the unsustainable burden
on local taxpayers?”
The public forum on Jan. 11 will give residents an opportunity to learn more about this community issue. A panel discussion will explore the causes of the current pension problems in Illinois, as well as opportunities to strengthen the long-term viability of the pension systems. Panel members will include representatives from the Illinois Legislature, police and fire pension boards, and Lake Forest City Council. Questions and comments will be taken from the public following the panel discussion.
The forum will be broadcast live on LFTV channel 17 with rebroadcasts to be scheduled in the future.
Visit the City’s website at www.cityoflakeforest.com/pensions.htm to learn more about the public pension funding issue in Lake Forest and review the City Council resolution. Residents are urged to make an informed choice on Feb. 2.
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