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* This was introduced very late in the game and it’s probably going nowhere in the Senate, which is run by an Emanuel pal…
As Mayor Emanuel continues to look for ways to prevent the city’s largest worker pension fund from going broke before the decade’s out, the folks who run the fund have sent the city a legislative message: just pay up.
The Municipal Employees Annuity and Benefit Fund of Chicago got Illinois Rep. Elaine Nekritz, D-Northbrook, to introduce legislation Tuesday that calls for the city to ramp up its contributions to the fund, which is nearly $10 billion in the hole.
Under the proposal, the city would be given 40 years to bring the fund up to 90 percent funding, under the threat of reduced state funding for failure to do so. It does not reduce benefits, as did an earlier Emanuel plan that the Illinois Supreme Court struck down in March. […]
But Emanuel has said he’s still looking for a way to soften the blow on taxpayers when it comes to city workers and laborers. And the administration issued a chilly statement Tuesday in response to the bill: “Introducing and passing legislation that requires scheduled pension contributions from the city without also identifying a dedicated revenue source is irresponsible.”
* Strong opposition by the retailers along with a couple of pledged supporters who didn’t show up for the vote killed this one off…
Legislation that would allow municipalities to share confidential taxpayer information with third-party vendors in order to correct errors from the Department of Revenue was defeated in the Illinois Senate by one vote Tuesday.
This marks the second time in a week the bill has fallen short of passage.
The legislation would give third-party vendors access to information so long as they entered into confidentiality agreements with municipalities. Vendors could then use the information to discover and collect tax revenue that may have been reported to the wrong community by the Department of Revenue.
“Financial advisers may have abilities and software to provide checks and balances with the Department of Revenue,” said Sen. Michael Hastings, D-Tinley Park, the bill’s sponsor. “Time and time again, the Department of Revenue makes multiple mistakes allocating money that municipalities aren’t entitled to.”
* I think we’ve discussed this one before…
As of Tuesday, a bill was making its way through the Illinois statehouse that, if signed into law, would make it easier for ex-offenders to get an occupational license in barbering, cosmetology, roofing, and funeral home directing. The bill would bar the IDFPR from denying occupational license applications to people with a criminal record if their conviction wasn’t “directly related” to the profession. It would also require IDFPR to issue a written decision if it did reject an applicant on the basis of their criminal record, as well as mandate a yearly report from the department on those decisions.
The bill wouldn’t do anything for the the dozens of other professions, like insurance, that require a license in the state. Illinois Representative Marcus Evans is sponsoring the bill in the house.
“We have these four categories which will provide more opportunities, and I think hopefully we can build on that,” he said. “Going through the legislative process you can’t always get everything you want. But as long as we are moving in the right direction I am reasonably satisfied. And hopefully we can get more in the future.”
After Tony Graham was denied his insurance producer’s license, he was unemployed for a while. He almost lost his house. But he eventually found work: driving for the rideshare service Uber.
The bill is on 3rd Reading in the Senate.
* Related…
* Emanuel Airbnb rules stall as aldermen say they won’t be rushed on ever-shifting measure
posted by Rich Miller
Wednesday, May 18, 16 @ 11:34 am
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Why is everyone so gung ho to soften the blow on the taxpayers? Every penny of underfunded pension liability was used by the legislature in some way during the past that resulted in lower taxes for those same taxpayers.
It is like being behind on the mortgage, and insisting that the bank lower its interest rates and reduce the principal because we wouldn’t want fiscal reality to hurt too much.
Comment by Anon Wednesday, May 18, 16 @ 11:46 am
when left to its own devices it seemd gov short funds its pensions then expects the employees to pay it.
we need a law that directs payment to these funds first, without a sep apropriation, and subtracts that payment from any money going to the body in question regardless of source. should apply to the state as well.
But 90% is a ridiculous lvl. you teallt only needs these funds up to 70-80 at most to be self sufficient. this isnt its a wonderful life with a run on the banks where every account has to be paid out in total immediately.
Comment by Ghost Wednesday, May 18, 16 @ 12:23 pm
Thank you, Rep. Nekritz! Indeed, the best idea to solve the city of Chicago’s pension ‘crisis” (including not allowing the pension funds to go broke, if that’s true) has been there all along: just pay what you’re supposed to! Mayor Emanuel and others have spent SO MUCH TIME trying to get around the contract or find ways to wiggle out of it. Why doesn’t the Mayor find a way to “soften the blow” to the city workers who have already paid into the fund? Not paying your obligations (ones that you’ve known about for a LONG time) is what I’d call “irresponsible,” Mr. Mayor.
Comment by Christopher Wednesday, May 18, 16 @ 2:53 pm
- Why is everyone so gung ho to soften the blow on the taxpayers? -
I love coming here to CapFax and reading the comments. Lets me know *exactly* what that state employee I just shared a laugh with actually thinks of me. Quite instructive.
Comment by JB13 Wednesday, May 18, 16 @ 3:08 pm
Default is looming get ready public sector.
Comment by Tone Thursday, May 19, 16 @ 2:37 am