City of Peoria YouTube
Originally published on February 10, 2021 6:51 pm
When it comes to the Peoria area s wishlist for state legislators, there s a lot of needs from road repairs to renewing tax credits. But one item clearly comes in as the top priority. Our number one item that has to be addressed. It needs to be in the largest font on that piece of paper. And it needs to be bold. And it needs to be underlined. And it needs to be, Help us address the pension, said Peoria Mayor Jim Ardis.
Public safety pensions remain the city s largest unfunded liability. City Manager Patrick Urich said in 2008, pension payments accounted for 11 percent of the city s operating budget. That s now ballooned to 20 percent with those obligations continuing to mount in the years to come.