About

Across Illinois, soaring public safety pension costs are at a crisis level and threatening the future of our communities. Pension Fairness for Illinois Communities is a coalition aimed at bringing fairness to the public safety pension system in order to relieve the burden of escalating public safety pension costs on local taxpayers and ensure sustainable retirement benefits for our public safety employees.

News

November 16, 2010
Illinois Mayors, Business Leaders travel to Springfield to demand immediate legislative relief from escalating public safety pension costs. View the full press release (PDF).

November 9, 2010
Police, fire pensions need legislative 911: The Chicago Sun-Times published an editorial calling on the General Assembly to enact meaningful public safety pension reform during veto session this month following last week's referendum results. Visit our Referendum Tracker to see the outcome of the referenda in all 44 Illinois communities - on average 83% of voters said YES to public safety pension reform.

A Plan for Real and Lasting Change

Pension Fairness Platform

Changes in the Benefits for Future Employees

(Hired On or After January 1, 2011)

Increase the normal retirement age to 60
Provide that the maximum pension would be earned after 35 years of service
Set a pensionable salary cap at $106,800
Set the maximum pension at 72% of final salary
Calculate pensions using an average final salary based upon the highest 8 consecutive years out of the last 10 years
Adjust the annual COLA to the lesser of 3% simple or 50% of the CPI-U
Set the amount of the survivor benefit at 66 2/3% of final average salary

Changes to the Current Pension System

Enact a 30-year rolling amortization period for pension funding
Expand investment authority
Adjust employee contributions upward

Recommended Studies and Reports

COGFA study regarding consolidation of the police and firefighter funds
COGFA study regarding the benefits of investment pooling
COGFA report concerning the financial condition of each of the police and firefighter pension funds
Illinois Department of Insurance authority to conduct special examinations and investigations of individual pension funds