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Peoria Standard

Sunday, December 8, 2019

ILLINOIS STATE HOUSE DISTRICT 87: Butler Resolution Aims to Protect State from Chicago Pension Fund Liabilities

Politics

By Press release submission | Nov 16, 2019

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Illinois State House District 87 issued the following announcement on Nov. 13.

As Illinois Governor J.B. Pritzker pushes for the consolidation of Illinois’ police and firefighter pensions, State Representative Tim Butler (R-Springfield) has filed legislation to protect the state from bearing the liability of Chicago and Cook County’s chronically mismanaged funds. The legislation, House Resolution 600, also protects downstate and suburban pension funds from being consolidated with Chicago and Cook County funds.

“The City of Chicago and Cook County have to stop turning to the taxpayers of Illinois for their failures to manage their own assets,” said Butler. “Likewise, the pension funds of downstate and suburban first responders should not be made to bear the burden of those failures either.”

To protect the state, along with the downstate and suburban police and fire pension funds, HR 600 states, “…We urge Governor Pritzker and the Illinois Pension Consolidation Feasibility Task Force, in further studying the impact of any pension consolidation proposal, to refuse any attempt to consolidate downstate and suburban pension funds with the City of Chicago or Cook County pension funds or any attempt for the State of Illinois to absorb any liability for any City of Chicago or Cook County pension funds.”

Original source can be found here.

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