Protecting Public Pensions

Protecting Public Pensions
"The city of Evanston, Illinois is a suburban municipality located directly north of the city of Chicago and has approximately 74,000 residents.
This city has had a long history of underfunding its police and fire pension plans and it still dealing with these problems today despite prior litigation.
The underfunding of the police and fire pension plans continually worsened with the City now facing a $159 million unfunded accrued liability for the police and fire pension plans with plan assets covering only 42% of the benefits owed.
To put these figures in context, the unfunded liability is about $2,000 per Evanston resident or $4,500 per household."