Press Detail

Why More Illinois Towns Could Follow Harvey’s Fate

Posted on April 20, 2018

Chicago Tonight

This article discusses the withholding of City of Harvey funds by the Illinois Comptroller in response to continued underfunding of Harvey's public safety pensions. Following the intercept, the City laid off nearly half of its police and fire department. The article suggests that the struggles surrounding public pensions in Harvey are mirrored across the State and are indicative of a much larger problem. Civic Federation President Laurence Msall said that the State is ultimately responsible for the pension funds it set up in Harvey and across the state. He recommended the State create a Local Government Protection Authority to provide financial expertise and independent oversight to ailing municipalities.

 

Additional coverage:

CBS Chicago: Police And Firefighter Layoffs In Harvey

Chicago Tribune: Editorial: Bankruptcy 'lite' for Harvey and beyond

The Bond Buyer: Harvey, Illinois' pension debts trigger first-time withholding of state funds