Tuesday, January 17, 2017

Bloomington City Leaders: Tax Increases Worked

City leaders in Bloomington say their tax increases worked City council members are expected to get a briefing tonight on Bloomington's police and fire pensions. The city's finance director says a 2014 utility tax increase is on track to fully fund retirements for cops and firefighters by the state's deadline in 2041. Illinois law requires all local pensions have 90-percent of the money they need by then. Bloomington will pay about 12-million dollars for pensions next year alone.

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