Quincy receives ‘F’ grade for its local pension crisis

From WIREPOINTS

Illinoisans are suffering from more than just the nation’s worst state-level pension mess. For most residents, another problem hits much closer to home: Illinois’ local pension crisis.

Wirepoints has quantified the negative impact of local pension costs by examining the finances of Illinois municipalities from 2003 to 2019. To allow for a like-for-like comparison, coverage was restricted to the 175 cities, excluding Chicago, that have their own independent police, firefighter, and Illinois Municipal Retirement (IMRF) pension funds.

Wirepoints found that while just seven of the 175 measured cities received an F grade in 2003, that number had grown to 102 cities by 2019.