SPRINGFIELD, IL- A plan to shore up the pension fund for teachers in Illinois could seriously shortchange cities around the state.
The state's plan to bail out the teachers' pension system could jeopardize local police and fire pensions. A legislative committee was supposed to take up the bill to take away millions of dollars from schools and local governments, but action on that measure has been postponed.
Losing state tax dollars would cost local governments millions. The cities of Danville, Springfield and Decatur call the potential loss of those tax dollars "devastating."
Decatur and other cities say they might have to cut employees if the state cuts off some of its revenue. That state money is also used to fund libraries in Decatur and Springfield.
Most cities say they are in no position to raise taxes to replace those funds.